Technical analysis of US Crude, XAUUSD, and EURUSD for today (9 August 2022)

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.

Gold continues to trade in a short-term uptrend.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil downtrend continues. Yesterday, the price was corrected and updated Friday’s high. However, traders failed to reach the Intermediary Zone 91.10 – 90.67, which serves as the trend’s border. After reaching it, consider new sales according to the pattern with a target at August 5 low.

An alternative scenario suggests a breakout and price consolidation above the Intermediary Zone. In this case, the short-term trend will reverse up, so consider oil purchases with a target in the upper Target Zone 95.83 – 94.97.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 91.10 – 90.67. TakeProfit: 86.47. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

Gold continues to trade in a short-term uptrend. The growth target is the Target Zone 2, 1817 – 1810. At the moment, the price is correcting.

Today, look for purchases according to the pattern at strong support levels. The nearest strong support level is the Intermediary Zone 1762 – 1759. Wait for the test of the zone, then look for a reversal buy pattern and open a long trade according to this signal in order to update the August 4 high.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1762 – 1759. TakeProfit: 1794. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis

The short-term euro downtrend continues, the main target of which is the lower Target Zone 1.0081 – 1.0060. Last week, the trend key resistance 1.0239 – 1.0228 was tested but unsuccessfully. Therefore, focus on holding sales in this zone and open new ones according to the pattern, with the first target to update the August 3 low.

If during the trading, the Intermediary Zone 1.0239 – 1.0228 is broken out upside and the price closes higher in the American trading session, the short-term trend will reverse up. In this case, from the next trading day, look for euro purchases with the target in the upper Target Zone 1.0355 – 1.0334.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0239 – 1.0228. TakeProfit: 1.0124. StopLoss: according to the pattern rules.

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Price chart of XAUUSD 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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