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 is trading in a correction within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is growing, aiming to exceed the January 6 high.
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XAUUSD: gold is trading in the 2678 – 2641 area between the resistance levels.
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EURUSD: the euro is testing the support (A) 1.0344 – 1.0335 within the short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining a short-term uptrend. The price is growing, aiming to surpass the January 6 high. If so, the asset may break through the Target Zone 75.11 – 74.33. Should the breakout occur, the next target will be the Gold Zone 77.21 – 76.95.
Consider long trades at the strong support (A) 71.44 – 71.13 and support (B) 69.93 – 69.48.
USCrude Trading Ideas for Today:
Buy at support (A) 71.44 – 71.13. TakeProfit: 72.79, 74.45. StopLoss: 70.57.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term downtrend. The price has entered the 2678 – 2641 area between the resistance levels. If the price retreats below the 2641 level, one may consider short trades with the first target of 2615 and the second one of 2583.
If the asset pierces the 2678 level, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 2773 – 2756.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a correction within the short-term uptrend. The price is testing the support (A) 1.0344 – 1.0335. Consider long trades near this support with the first target of 1.0386 and the second one of 1.0436.
If the asset breaks through the support (A), the correction may continue to the support (B) 1.0298 – 1.0285, the trend boundary. Therefore, consider long trades near this zone.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0344 – 1.0335. TakeProfit: 1.0386, 1.0436. StopLoss: 1.0316.
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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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