WIKIFX REPORT: Short-term analysis for oil, gold, and EURUSD for 18.10.2022

You are all welcome to our site and get to read about our recent article in which a price forecast for US Crude, XAUUSD, and EURUSD was made using a combination of margin zones methodology and technical analysis. And Based on the market analysis, we recommend entry signals for intraday traders.

The short-term euro uptrend continues.

The article covers the following subjects:

• Oil price forecast for today: USCrude analysis

• Gold price forecast for today: XAUUSD analysis

• Euro/Dollar forecast for today: EURUSD analysis

Oil price forecast for today: USCrude analysis

Yesterday, traders tried unsuccessfully to break out the Target Zone 85.11 - 84.36.

Also yesterday, traders tested the Additional Zone 85.76 - 85.57 as part of the correction. The zone was held.

Today, the short-term downtrend continues. Looking for sales according to the pattern in the Additional Zone with a target at yesterday's low is a matter of high priority today.

If during the trading the Additional Zone is broken out upside, the correction will continue with the target in the Intermediary Zone 87.82 - 87.45. The IZ serves as a key downtrend resistance, so after reaching it, also look for sales.

USCrude trading ideas for today:

• Sell according to the pattern in Additional Zone 85.76 - 85.57. TakeProfit: 83.77. StopLoss: according to the pattern rules.

• Sell according to the pattern in Intermediary Zone 87.82 - 87.45. TakeProfit: 83.77. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

The short-term gold downtrend continues. Yesterday, the price corrected and reached the Intermediary Zone 1671 - 1668. After reaching the IZ, sellers' reaction occurred, as a result of which the price dropped to the level of 1647.

However, there is no sell pattern at the moment. Wait for a retest of the Intermediary Zone which serves as a resistance, and consider sales according to the pattern with a target at yesterday's low.

If during trading the Intermediary Zone is broken out upside, the trend will reverse up. In this case, starting from the next trading day, look for gold purchases with the target in the upper Target Zone 1702 - 1697.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1671 - 1668. TakeProfit: 1640. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis

The short-term euro uptrend continues. As a result, the Target Zone 0.9865 - 0.9843 was reached. Today watch the Target Zone test. If this resistance is broken out upside, the next target for purchases will be the Gold Zone 0.9960 - 0.9949.

An alternative scenario implies correction development. As part of it, the price may correct either in the Additional Zone 0.9819 - 0.9814, or in the Intermediary Zone 0.9766 - 0.9756. Once these zones are reached, consider purchases with a target at the day's high.

EURUSD trading ideas for today:

• Buy according to the pattern in Additional Zone 0.9819 - 0.9814. TakeProfit: 0.9871. StopLoss: according to the pattern rules.

• Buy according to the pattern in Intermediary Zone 0.9766 - 0.9756. TakeProfit: 0.9871. StopLoss: according to the pattern rules.