Technical analysis for USCrude, XAUUSD, and EURUSD today (13 October 2023)

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I welcome my fellow traders! I have made a price forecast for USCrude, 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 oil short-term downtrend continued yesterday. 

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The oil short-term downtrend continued yesterday. The market broke through the low of yesterday’s Asian session at the US session. The market could start a correction now. If the correction continues, the oil price will reach the resistance zone of 85.07 – 84.74, where it is relevant to sell with a target at yesterday’s low. 

If yesterday’s low is broken through, the price will reach the next downside target at the low of October 6. If the low of October 6 is broken through, and the price consolidates below, the next downside target will be the Target Zone 77.46 – 76.80.

The trend will turn up, and it will be relevant to buy when the price breaks out level 86.05.

USCrude trading ideas for today:

Sell according to the pattern in the resistance zone of 85.07 – 84.74. TakeProfit: 81.55. StopLoss: according to the pattern rules.


Gold forecast for today: XAUUSD analysis

The gold price is trading down in the short term. The gold traders tried to break out the key resistance zone of 1874 – 1868 yesterday. The price has not consolidated above the zone, and the price rolled down into the resistance zone at the end of the American session. If the price continues declining today, one could enter a short trade with a target at the low of October 6. A part of profits could be taken at the level of 1832.

If the price breaks out resistance (В) 1874 – 1868, the short-term trend will reverse upside. If so, one could enter purchases next week with a target in the upper Target Zone 1939 – 1927.

XAUUSD trading ideas for today:

Sell according to the pattern in resistance (В) 1874 – 1868. TakeProfit: 1832, 1811. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The EURSUD was corrected down in the short-term uptrend. The price tested support (А) 1.0543 – 1.0534 but didn’t consolidate below. The market is going up from support (A) today. If the market continues growing, it should go above yesterday’s high. When the indicated high is broken through, the next upside target will be Target Zone 1.0765 – 1.0736.

If yesterday’s low is broken through, the market will enter support (В) 1.0495 – 1.0481. This is the trend border, where one could also enter purchases.

EURUSD trading ideas for today:

  1. Buy according to the pattern at support (А) 1.0543 – 1.0534. TakeProfit: 1.0636. StopLoss: according to the pattern rules.

  2. Buy according to the pattern at support (В) 1.0495 – 1.0481. TakeProfit: 1.0636. StopLoss: according to the pattern rules.


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Price chart of USCRUDE in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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