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 downtrend.
The article covers the following subjects:
Highlights and key points
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USCrude: Oil is trading below the 69.28 level within a short-term downtrend.
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XAUUSD: Gold maintains a short-term downtrend. The bearish target is the Gold Zone 2570 – 2564.
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EURUSD: The euro continues to trade in a downtrend. The main bearish target is the Target Zone 1.0570 – 1.0547.
Oil price forecast for today: USCrude analysis
Oil continues its short-term downtrend. Now, the main bearish target is 66.56. If the price breaks through this level, the next target will be the Gold Zone 65.93 – 65.63. Today, consider holding short trades below 69.28 at the breakeven level. The asset should pierce and consolidate above the 69.28 level to reverse the downtrend.
USCrude trading ideas for today:
Hold up sales below 69.28. TakeProfit: 66.56. StopLoss: at the breakeven.
Gold forecast for today: XAUUSD analysis
Gold maintains its short-term downtrend. Yesterday, the price broke through the Target Zone 2625 – 2608. The next bearish target is the Gold Zone 2570 – 2564. Consider short trades on a correction at the strong resistance (A) 2652 – 2647 and resistance (B) 2684 – 2675 with the main target at yesterday’s low.
XAUUSD trading ideas for today:
Sell at resistance (A) 2652 – 2647. TakeProfit: 2621, 2589. StopLoss: 2664.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro continued to fall within a short-term downtrend. The main bearish target is the Target Zone 1.0570 – 1.0547. Consider short trades on a correction.
If the upward correction unfolds, the quotes may grow to the resistance (A) 1.0718 – 1.0708 or resistance (B) 1.0779 – 1.0763. Once the price touches these zones and a sell pattern emerges, one may consider short trades with the main target at yesterday’s low.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0718 – 1.0708. TakeProfit: 1.0656, 1.0595. StopLoss: 1.0738.
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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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