Technical analysis of US Crude, XAUUSD, and EURUSD today (18 September 2023)

2023.09.18 2023.09.18
Short-term analysis for oil, gold, and EURUSD for 18.09.2023

Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/

I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.

The gold price was corrected up in the short-term downtrend.

Oil price forecast for today: USCrude analysis

The oil price has broken through the last weekly high and is about to continue trading up in the short term. The upside target is the Godl Zone 92.26 – 91.76. One could enter new purchases in support (A) 87.38 – 87.05 or support (В) 85.73 – 85.23. The first upside target will be today’s high.

It will be relevant to sell when the price breaks out support (B) and consolidates below, as the short-term trend will turn down in this case. 

USCrude trading ideas for today:

1. Buy according to the pattern at support (А) 87.38 – 87.05. TakeProfit: 90.55. StopLoss: according to the pattern rules.

2. Buy according to the pattern at support (В) 85.73 – 85.23. TakeProfit: 90.55. StopLoss: according to the pattern rules.

Gold forecast for today: XAUUSD analysis

The gold price has been corrected up in the short-term downtrend and tested resistance (А) 1930 – 1926. I suggest entering short trades in the first resistance zone with the first target at 1905, and the second downside target is around level 1885.

If the price breaks out resistance (A), the correction will continue up to resistance (B) 1953 – 1947, where it is also relevant to sell with the same targets. 

It will be relevant to buy when the price breaks out level 1953 and consolidates above. 

XAUUSD trading ideas for today:

1. Sell according to the pattern in resistance (А) 1930 – 1926. TakeProfit: 1905. StopLoss: according to the pattern rules.

2. Sell according to the pattern in resistance (В) 1953 – 1947. TakeProfit: 1905. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis  

The EURUSD is trading in the short-term downtrend. The downside target is Target Zone 3, 1.0594 – 1.0574. The price is currently being corrected up. The correction should drive the price up to resistance  (А) 1.0737 – 1.0727. When this zone is tested by the price, one could enter sell trades with the first target at the low of last week. 

If the market breaks out resistance (A), the correction will continue up to resistance (B) 1.0790 – 1.0775, where it is also relevant to sell as it is the downtrend border. 

EURUSD trading ideas for today:

1. Sell according to the pattern in resistance (А) 1.0737 – 1.0727. TakeProfit: 1.0635. StopLoss: according to the pattern rules.

2. Sell according to the pattern in resistance (В) 1.0790 – 1.0775. TakeProfit: 1.0635. StopLoss: according to the pattern rules.

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Price chart of XAUUSD in real time mode