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.
The euro broke through the short-term downtrend’s key resistance yesterday.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has reached the upper Target Zone 75.11 – 74.33.
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XAUUSD: gold is testing the resistance (A) 2647 – 2641 again.
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EURUSD: the short-term downtrend has reversed.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil hit the main bullish target within the short-term uptrend, the Target Zone 75.11 – 74.33. Once this zone was reached, a downward correction started. If the correction continues today, the asset may test the support (A) 71.44 – 71.13.
If the price touches the support (A), one may consider long trades with the first target of 72.79 and the second one of 74.45.
USCrude Trading Ideas for Today:
Buy at support (A) 71.44 – 71.13. TakeProfit: 72.79, 74.45. StopLoss: 70.57.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold met its first bearish target of 2615 after hitting the resistance (A) 2647 – 2641. The price has failed to consolidate below this level, prompting an upward correction. Currently, gold is testing the resistance (A) again within the correction.
If the price remains below the resistance, consider short trades near this zone with the targets of 2615 and 2583. If the asset pierces the resistance (A), the correction will continue to the resistance (B) 2678 – 2670.
XAUUSD Trading Ideas for Today:
Sell at resistance (A) 2647 – 2641. TakeProfit: 2615, 2583. StopLoss: 2659.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro broke through the short-term downtrend’s key resistance 1.0376 – 1.0362. Thus, the downtrend has reversed. Now, the bullish target is the upper Target Zone 1.0527 – 1.0500.
Consider long trades at the strong support (A) 1.0344 – 1.0335 and support (B) 1.0298 – 1.0285 with the main target at yesterday’s high. If the price exceeds this high, the support zones should be shifted.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0344 – 1.0335. TakeProfit: 1.0386, 1.0436. StopLoss: 1.0316.
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Price chart of EURUSD 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.