Technical analysis for USCrude, XAUUSD, and EURUSD today (30 October 2023)

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I welcome my fellow traders! I have made a price forecast for the 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 trading in the short-term uptrend.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The oil short-term downtrend continues. Last week, the price tested resistance (А) 85.50 – 85.17. The zone was not broken out, and it is relevant to sell with a target at the low of October 25.

If the price goes below the low of October 25, the next downside target will be the lower Target Zone 79.71 – 78.72.

If the price breaks through the high of October 27, the correction will continue up to resistance (В) 87.32 – 86.82. One could enter new sell trades in the second resistance zone as it is the trend border.

USCrude trading ideas for today:

Sell according to the pattern at resistance (В) 87.32 – 86.82. TakeProfit: 82.00. StopLoss: according to the pattern rules.


Gold forecast for today: XAUUSD analysis

The gold price is trading in the short-term uptrend and reached Target Zone 2, 2017 – 2009. If the price continues growing and breaks out the indicated zone, the next upside target will be the Gold Zone 2, 2052 – 2048.

If the TZ 2 is held down by sellers, a descending correction will start. In this case, the market will reach support (А) 1970 – 1966, where one could enter new purchases with a target at the high of October 27.

If support (A) is broken out, the market will reach support (В) 1951 – 1945. One could also enter purchases in the second support zone, as it is the trend border.

XAUUSD trading ideas for today:

  1. Buy according to the pattern at support (А) 1970 – 1966. TakeProfit: 2009. StopLoss: according to the pattern rules.

  2. Buy according to the pattern at support (В) 1951 – 1945. TakeProfit: 2009. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The EURUSD short-term uptrend continues. Last week, the price tested support (В) 1.0550 – 1.0535. The zone has not been broken out, and one could enter new purchases today with a target at the high of October 24. If the price exceeds the indicated high, the next upside target will be the upper Target Zone 1.0765 – 1.0736.

If the price breaks out support (B) and consolidates below, the short-term trend will reverse down. If so, one could enter short trades starting from the next trading day with a target in the lower Target Zone 1.0406 – 1.0377.  

EURUSD trading ideas for today:

Buy according to the pattern in support (В) 1.0550 – 1.0535. TakeProfit: 1.0690. 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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