Technical analysis for USCrude, XAUUSD, and EURUSD today (17 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 EURUSD is rising in the short-term uptrend. 

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil trend remains down. The price rolled down under resistance (В) 86.05 – 85.56. Therefore, it is relevant to enter short trades with the first target at the low of October 12 and the second target at the low of October 6.

If yesterday’s high is broken through, the short-term trend will turn up, and it will be relevant to buy with a target in the upper Target Zone 91.50 – 90.51.

USCrude trading ideas for today:

Sell according to the pattern in resistance (В) 86.05 – 85.56. TakeProfit: 81.50, 80.65. StopLoss: according to the pattern rules.


Gold forecast for today: XAUUSD analysis

The short-term gold uptrend continues. The market is being corrected now. The price could reach support (А) 1893 – 1889. When the first support zone is tested, one could enter longs with a target at the high of October 13.

If support (A) is broken out, the price will go down to support (В) 1874 – 1868. This is the trend border, and it is also relevant to buy in the zone.

If the price goes above the high of October 13, it will break out the Target Zone 1939 – 1927. If so, the next upside target will be the Gold Zone 1970 – 1966.

XAUUSD trading ideas for today:

  1. Buy according to the pattern at support (А) 1893 – 1889. TakeProfit: 1932. StopLoss: according to the pattern rules.

  2. Buy according to the pattern at support (В) 1874 – 1868. TakeProfit: 1932. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The EURUSD is rising in the short-term uptrend. A buy pattern emerged yesterday. Today, traders could enter a long trade with a target at the high of October 12. If the price consolidates above the indicated high, the next upside target will be the upper Target Zone 1.0765 – 1.0736.

If the price goes below the low of October 13, it will break out support 1.0495 – 1.0481. If so, the short-term trend will turn down, and it will be relevant to sell with a target in the lower Target Zone 1.0351 – 1.0322. 

EURUSD trading ideas for today:

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 EURUSD 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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