Home Market Technical analysis of US Crude, XAUUSD, and EURUSD for today (12 August...

Technical analysis of US Crude, XAUUSD, and EURUSD for today (12 August 2022)

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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.

The short-term oil trend reversed up yesterday.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil trend reversed up yesterday. The Intermediary Zone 91.10 – 90.67 was broken out. Now the upper Target Zone 95.83 – 94.97 serves as the target for purchases.

At the moment, oil is trading in a correction and is trying to test the Additional Zone 92.15 – 91.94. After the AZ test, consider a buy pattern and open a long trade with the target at yesterday’s high.

The trend key support is shifting to the zone of 90.00 – 89.57.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 92.15 – 91.94. TakeProfit: 94.25. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 90.00 – 89.57. TakeProfit: 94.25. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Gold traders are accumulating trading positions before continuing the short-term uptrend with the target in the Target Zone 2, 1817 – 1810. At the moment, the price is in the Additional Zone 1791 – 1790, which serves as a strong support level. Consider purchases in the beforementioned AZ according to the pattern with the first target at August 10 high.

The trend key support is in the zone of 1775 – 1772. If the price tests this zone, also consider purchases according to the pattern.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1791 – 1790. TakeProfit: 1807. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1775 – 1772. TakeProfit: 1807. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Euro traders are trying to break out the upper Target Zone 1.0355 – 1.0334 and consolidate the price beyond it. If successful, the next target of the short-term uptrend will be the Gold Zone 1.0451 – 1.0440.

Otherwise, the price will correct in ​​the trend key support of 1.0262 – 1.0252. In this zone, look for new purchases according to the pattern with the first target at August 10 high.

To enter sales and reverse the trend, traders need to consolidate the price below level 1.0252. In this case, starting from the next trading day, it will be possible to consider euro sales with the target in ​​the lower Target Zone 1.0156 – 1.0135.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0262 – 1.0252. TakeProfit: 1.0367. StopLoss: according to the pattern rules.


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Price chart of USCRUDE 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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