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 corrected yesterday.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the resistance (A) 70.19 – 69.86. If the price fails to consolidate above this zone, the asset will decline to the first target of 68.37.
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XAUUSD: gold has stopped falling after hitting the support (A) 2735 – 2729.
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EURUSD: the euro has reached the resistance (A) 1.0884 – 1.0873 during a correction within the short-term downtrend.
Oil price forecast for today: USCrude analysis
Yesterday, oil continued its correction and hit the resistance (A) 70.19 – 69.86. If the price fails to settle above this area today, the decline will continue to the first target of 68.37 and the second one of 66.56. If bulls manage to hold the price above the resistance (A), the correction will extend to the resistance (B) 72.01 – 71.51, the trend’s boundary.
USCrude trading ideas for today:
Sell at resistance (A) 70.19 – 69.86. TakeProfit: 68.37, 66.56. StopLoss: 70.86.
Gold forecast for today: XAUUSD analysis
Gold traded in a correction yesterday and reached the support (A) 2735 – 2729 but failed to pierce it. Today, the price has approached the first bullish target near 2759. Consider closing some of the long trades, placing the rest at the breakeven level. If the asset breaks through the 2759 level today, the growth will continue to the target at the historical high of 2790. If not, the correction will proceed to the target at the support (B) 2707 – 2699.
XAUUSD trading ideas for today:
Hold up long trades opened at support (A) 2735 – 2729. TakeProfit: 2789. StopLoss: at the breakeven.
Euro/Dollar forecast for today: EURUSD analysis
The euro has touched the resistance (A) 1.0884 – 1.0873 during an upward correction but failed to settle above it. Therefore, consider short trades with the first target of 1.0822. If the asset pierces the 1.0822 level from above, the price may continue to fall with the target of 1.0761.
If the euro breaks through the resistance (A), the correction will continue to the trend’s boundary 1.0946 – 1.0929. Once this zone is tested, one may consider short trades.
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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