USCrude - oil forecast today 03/18/2020
Yesterday was broken Target Zone 2 [28.04 - 27.63]. The next target for oil sales - Target Zone 3 [23.94 - 23.53]. The boundary of the downtrend is shifted to the mark [31.30 - 30.84].
Downward short-term trend in oil. Yesterday, during the trading session it reached Gold Zone [26.97 - 26.74]. Now we see an attempt to break through the zone and to gain a foothold below. If this can be the seller, the next target will be in a downtrend Target Zone 2 [24.64 - 24.18].
New sales to be considered in the correction. Key resistance trend located at elevations [28.74 - 28.51].
USCrude Trading decisions on oil for today:
Sale USCrude patterned by Intermediary Zone [28.74 - 28.51]. TakeProfit: 26.25, Gold Zone [26.97 - 26.74]. StopLoss: according to the rules of the pattern.
XAUUSD - gold forecast today 03/18/2020
Gold is trading in the mid-term downtrend. Yesterday observed correction in the region of Target Zone [1517.2 - 1511.2] and even higher. Now see how XAUUSD price return for the resistance. We continue to consider the sale of gold by pattern with the current prices with a view to a minimum this week.
Go to schedule XAUUSD with additional markup and see that the short-term trend for gold is up. As part of the trend yesterday was achieved Gold Zone [1544.2 - 1541.2]. This zone for a time to stop the rise in prices, and the tool has adjusted to the key support [1524.0 - 1521.0]. Now sellers are trying to break through the Intermediary Zone.
Today I suggest to look for buying the precious metal on the pattern with a view to yesterday's highs and Target Zone 2 [1577.2 - 1571.2].
The alternative - a breakdown of the IZ and consolidation below. In this scenario, we will sell gold to the bottom of Target Zone [1494.0 - 1488.0].
XAUUSD Business Solutions Gold for today:
Buying gold for the pattern of the Intermediary Zone [1524.0 - 1521.0]. TakeProfit: 1553.0, Target Zone 2 [1577.2 - 1571.2]. StopLoss: according to the rules of the pattern.
EURUSD - the euro / dollar forecast today 03/18/2020
On euro downtrend continued yesterday and was broken Target Zone 3 [1.1061 - 1.1046]. The next target for EURUSD Sales Target Zone is a 4 [1.0917 - 1.0902]. Now the Euro is being corrected and is moving towards the key resistance trend [1.1126 - 1.1111].
Together, let us look at the charts of a shorter timeframe. See here, that the short-term trend for the euro downward. Yesterday was broken Gold Zone [1.1003 - 1.0995]. Another aim is to Target Zone 2 [1.0925 - 1.0909].
During the Asian trading session, the quotation went up to the key resistance trend [1.1040 - 1.1033]. We are now seeing the first reaction of sellers. For the euro zone needs sales from the pattern that we will wait to Europe. If it is formed, it will sell the euro.
Alternative option - it is buying EURUSD, but it requires close America above Intermediary Zone.
EURUSD Trading decisions today in the euro dollar:
Selling EURUSD at the pattern of the Intermediary Zone [1.1040 - 1.1033]. TakeProfit: 1.0958, Target Zone 2 [1.0925 - 1.0909]. StopLoss: according to the rules of the pattern.
IZ - Intermediary Zone (intermediate zone): is responsible for the change in the priority direction of price movement.
TZ - Target Zone (target zone): zone which with 75% probability is achieved after a breakdown IZ.
GZ - Gold Zone (Golden Zone): A zone in the medium-term momentum.
All zones are calculated based on the average daily travel tool and margin requirements in the futures market.
Source forecast and market analysis today LiteForex
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