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 continues to trade in a short-term uptrend.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is maintaining its short-term downtrend.
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XAUUSD: gold may set a new historical high.
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EURUSD: the euro is trading slightly above the Target Zone 1.0794 – 1.0777. An upward correction may start.
Oil price forecast for today: USCrude analysis
Oil continues to decline within the short-term downtrend. Yesterday, the price broke through the Target Zone 68.92 – 68.02. The next bearish target is the Gold Zone 65.93 – 65.63.
Consider short trades on a correction from the strong resistance (A) 69.69 – 69.43 and resistance (B) 71.14 – 70.75, taking profits near today’s low.
USCrude trading ideas for today:
Sell at resistance (A) 69.69 – 69.43. TakeProfit: 68.23, 66.79. StopLoss: 70.25.
Gold forecast for today: XAUUSD analysis
Gold is maintaining its short-term uptrend. Today, the price will likely set a new historical high if the asset exceeds the October 23 high. If the price consolidates above this mark, the next bullish target will be the Gold Zone 2789 – 2784.
If a correction develops, quotes may fall to the support (A) 2703 – 2697. Once this zone is tested, consider long trades with the main target of 2758.
XAUUSD trading ideas for today:
Buy at support (A) 2703 – 2697. TakeProfit: 2728, 2758. StopLoss: 2686.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trading in a short-term downtrend. Yesterday, the price failed to pierce the Target Zone 1.0794 – 1.0777. Therefore, an upward correction may emerge today.
If the correction unfolds, the price will likely test the strong resistance (A) 1.0884 – 1.0873 and resistance (B) 1.0946 – 1.0929. Consider short trades near these zones with the main target of 1.0761.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0884 – 1.0873. TakeProfit: 1.0822, 1.0761. StopLoss: 1.09046.
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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.
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