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.
Yesterday, the euro broke through the resistance (A) 1.0278 – 1.0269.
The article covers the following subjects:
Major Takeaways
-
USCrude: oil is trying to pierce the Gold Zone 77.21 – 76.95.
-
XAUUSD: gold is testing the strong resistance (B) 2678 – 2670.
-
EURUSD: the euro continues to develop a corrective pattern with a target at the resistance (B) 1.0329 – 1.0315.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a downward correction within the short-term uptrend, likely targeting the support (A) 74.79 – 74.49. Once this zone is reached, consider long trades with the first target of 76.14 and the second one near 77.79.
If the price breaks through the support (A) today, the correction will continue to the trend boundary 73.28 – 72.83. Consider long trades near this zone.
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
Gold should settle above last week’s high to reverse the short-term downtrend. If so, consider long trades with the main target in the upper Target Zone 2773 – 2756.
However, if the price remains below last week’s high, the asset may decline. In this case, the price may continue the downtrend and reach the first bearish target near 2631. The second target is the 2583 level.
XAUUSD Trading Ideas for Today:
Hold up sales opened at resistance (B) 2678 – 2670. TakeProfit: 2631, 2583. StopLoss: 2695.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro broke through the resistance (A) 1.0329 – 1.0315. Consequently, the upward correction within the short-term downtrend may continue today, aiming at the resistance (B) 1.0329 – 1.0315. Once this zone is tested, consider short trades with the first target of 1.0253 and the second one near 1.0177.
The price should pierce and settle above the 1.0329 level to reverse the downtrend. In this case, one may consider long trades with the target in the upper Target Zone 1.0481 – 1.0453.
EURUSD Trading Ideas for Today:
Sell at resistance (B) 1.0329 – 1.0315. TakeProfit: 1.0253, 1.0177. StopLoss: 1.0351.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
