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.
Gold is trading in a downward correction.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is correcting upwards and preparing to test resistance (A) 79.99 – 79.66. Once this zone is tested, consider selling the instrument according to the pattern with the target at the May 15 low.
If resistance (A) is broken through today, the correction will likely continue to resistance (B) 81.81 – 81.31. This zone is the border of the short-term bearish trend. Short trades can also be considered from this zone with the target at the May 15 low.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 79.99 – 79.66. TakeProfit: 76.44. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 81.81 – 81.31. TakeProfit: 76.44. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in a downward correction. The possible target of the correction is support (A) 2347 – 2342. After this zone is tested, long trades with the target at the May 16 high can be considered. If the price exceeds the May 16 high, the next bullish target will be within the Target Zone 2422 – 2409.
The trend boundary shifts to 2322 – 2314.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (A) 2347 – 2342. TakeProfit: 2396. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 2322 – 2314. TakeProfit: 2396. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is maintaining a downward correction within its short-term uptrend. The possible downside target is support (A) 1.0811 – 1.0802. Once this area is tested, consider long trades according to the pattern with the target at the May 16 high. If the price settles above this high, the next upside target will be the Gold Zone 1.0945 – 1.0937.
The trend boundary shifts to 1.0769 – 1.0756.
EURUSD trading ideas for today:
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Buy according to the pattern at support (A) 1.0811 – 1.0802. TakeProfit: 1.0893. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 1.0769 – 1.0756. TakeProfit: 1.0893. 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.