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 gold price has strengthened.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is maintaining a downtrend.
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XAUUSD: gold is trading below the resistance 2673.
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EURUSD: the euro is trying to grow further to the target of 1.0629.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend. The main bearish target is 66.51. If the price consolidates below this level, the next target will be the Gold Zone 65.93 – 65.63.
The asset should break through the resistance (B) 70.85 – 70.45 to reverse the trend and create buying opportunities. In this case, one may consider long trades with the target in the upper Target Zone 75.19 – 74.40.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the first bullish target near 2673 within the short-term uptrend. If the price pierces this level, the asset may climb to 2721. If not, the quotes may decline to the support (B) 2634 – 2626.
If the asset breaks through the support (B), the short-term uptrend will reverse. In this case, the bearish target will be the lower Target Zone 2548 – 2531.
XAUUSD Trading Ideas for Today:
Hold up long trades above 2666. TakeProfit: 2721. StopLoss: 2654.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tested the support (A) 1.0537 – 1.0528 but failed to breach it. As a result, the asset has started to rise and reached one of the bullish targets near 1.0579. The second target is 1.0629. Today, consider holding long trades open until the price hits the second target. If the quotes break through the Target Zone 1.0636 – 1.0608 today, the next bullish target will be the Gold Zone 1.0709 – 1.0700.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (A) 1.0537 – 1.0528. TakeProfit: 1.0628. StopLoss: 1.0508.
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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
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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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