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 is trading in an upward correction.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trying to break through the Gold Zone 77.21 – 76.95.
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XAUUSD: gold has retreated below the resistance (B) 2678 – 2670.
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EURUSD: the euro is trading in an upward correction. The asset has tested the resistance (A) 1.0278 – 1.0269.
Oil Price Forecast for Today: USCrude Analysis
Oil is attempting to pierce the resistance, the Gold Zone 77.21 – 76.95. If the price settles above this zone, the asset may grow to the Target Zone 2, 80.95 – 80.35. If bears manage to keep the price below the Gold Zone, a downward correction may start.
If the correction unfolds, the quotes may fall to the support (A) 74.79 – 74.49 or support (B) 73.28 – 72.83. Once these zones are tested, consider long trades with the main target at yesterday’s high.
USCrude Trading Ideas for Today:
Buy at support (A) 74.79 – 74.49. TakeProfit: 76.14, 77.79. StopLoss: 73.86.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold plunged below the short-term downtrend’s key resistance 2678 – 2670. Therefore, consider short trades near this zone today with the first target of 2631 and the second one of 2583.
The price should exceed the January 10 high to create buying opportunities. In this case, the short-term downtrend will reverse, and one may consider long trades with the target in the upper Target Zone 2773 – 2756.
XAUUSD Trading Ideas for Today:
Sell at resistance (B) 2678 – 2670. TakeProfit: 2631, 2583. StopLoss: 2695.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is correcting upward. Today, the price has tested the resistance (A) 1.0278 – 1.0269 in the Asian trading session. In the European trading session, the asset will likely try to surpass today’s high. If a false breakout pattern forms after a new high is set, one may consider short trades with the first target of 1.0228 and the second one near 1.0177.
If the price consolidates above the Asian high today, the correction will continue to the trend boundary 1.0329 – 1.0315. Consider short trades near this zone with the main target at yesterday’s low.
EURUSD Trading Ideas for Today:
Watch the market.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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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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