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 continued to trade in a short-term downtrend yesterday.
The article covers the following subjects:
Major Takeaways
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USCrude: oil will likely test the short-term downtrend’s boundary 70.85 – 70.45 soon.
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XAUUSD: gold is growing within an uptrend.
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EURUSD: short trades on the euro have reached all the targets within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a correction within the short-term downtrend. Yesterday, the price broke through the resistance (A) 69.84 – 69.54. Today, the quotes are approaching the resistance (B) 70.85 – 70.45, the trend’s boundary. Therefore, once this zone is reached, consider short trades with the first target of 68.68 and the second one near 66.51.
If the asset pierces the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 75.19 – 74.40, starting from next week.
USCrude Trading Ideas for Today:
Sell at resistance (B) 70.85 – 70.45. TakeProfit: 68.68, 66.51. StopLoss: 71.59.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. The price is rising with a target in the upper Target Zone 2726 – 2709. Once this zone is reached, major traders may close their high-volume long positions, triggering a correction.
If the correction unfolds from current prices, the quotes may fall to the support (A) 2635 – 2630. Once this zone is reached, consider long trades with the main target at today’s high.
If the price breaks through the support (A) today, the correction will continue to the support (B) 2607 – 2598, the trend’s boundary. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2635 – 2630. TakeProfit: 2661, 2693. StopLoss: 2618.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to trade in a short-term downtrend yesterday. As a result, the price has dropped below the November 14 low. Thus, short trades, opened at the resistance 1.0619 – 1.0608, have hit all the bearish targets. Today, the price has approached the Gold Zone 1.0458 – 1.0446. However, currently, the asset is trading above this support. Thus, an upward correction is possible.
If the correction evolves, the quotes may grow to the resistance (A) 1.0562 – 1.0553 or resistance (B) 1.0613 – 1.0599. Long trades can be considered near these zones with the main target at today’s low.
EURUSD Trading Ideas for Today:
Sell at resistance (A) 1.0562 – 1.0553. TakeProfit: 1.0511, 1.0461. StopLoss: 1.0581.
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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.
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