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 has reversed its short-term downtrend this week.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has tested the Gold Zone 77.21 – 76.95 again.
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XAUUSD: gold is rising within a short-term uptrend.
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EURUSD: bears are trying to drag the euro down in the impulse movement after the resistance (A) 1.0329 – 1.0315 was tested.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a correction within the short-term uptrend. Yesterday, the price tested the Gold Zone 77.21 – 76.95, the support level, but failed to pierce it from above. Today, the asset is trying to continue the uptrend with the main target at the January 15 high.
If the price breaks through the support 77.21 – 76.95 today, the correction will continue to the support (A) 76.35 – 76.05. Consider long trades near this zone with the first target of 77.70 and the second one near 79.36.
USCrude Trading Ideas for Today:
Buy at support (A) 76.35 – 76.05. TakeProfit: 77.70, 79.36. StopLoss: 75.44.
Gold Forecast for Today: XAUUSD Analysis
This week, gold has reversed its short-term downtrend and breached the resistance (B) 2678 – 2670. Now, the bullish target is the upper Target Zone 2773 – 2756. Consider long trades on a correction at the strong support (A) 2667 – 2661 and support (B) 2638 – 2629 with the main bullish target at yesterday’s high.
The price should break through the 2629 level to allow traders to open short positions and reverse the trend. In this case, consider short trades with the target at last year’s November low.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2667 – 2661. TakeProfit: 2693, 2724. StopLoss: 2650.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term downtrend. The price is consolidating below the key resistance 1.0329 – 1.0315. The first bearish target is 1.0253, and the second one is the January 13 low. Therefore, consider short trades today.
The asset should break through and settle above 1.0329 to reverse the trend and create buying opportunities. In this case, consider long trades with the target in the upper Target Zone 1.0481 – 1.0453, starting from next week.
EURUSD Trading Ideas for Today:
Watch the market.
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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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