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 continues to maintain a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The price is trying to break through the Target Zone 82.34 – 81.44 within the short-term uptrend. If successful, the next bullish target will be the Gold Zone 84.75 – 84.45. Thus, consider long trades on a correction at the strong support (A) 79.33 – 79.03 and support (B) 77.84 – 77.40. The main bullish target will be the June 28 high.
The price should break through the 77.40 level to allow traders to open short positions. In this case, the short-term uptrend will reverse.
USCrude trading ideas for today:
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Buy according to the pattern at support (A) 79.33 – 79.03. TakeProfit: 82.24. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 77.84 – 77.40. TakeProfit: 82.24. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues to maintain a short-term downtrend. Short trades opened at the resistance (B) 2369 – 2361 yielded profits last week. As a result, the price reached the Target Zone 2300 – 2285, and now the quotes are growing in a correction. If the asset continues to increase, the resistance (B) 2369 – 2361 may be tested again. Once the price breaks through the resistance, the short-term downtrend will reverse.
If the asset falls during this week and reaches below the June 7 low, the price will likely break through the Target Zone 2300 – 2285. In this case, the next bearish target will be the Gold Zone 2250 – 2245.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
The euro is correcting within the short-term downtrend and, at the moment, breaking through the resistance (A) 1.0758 – 1.0750. If the correction continues, the asset will likely reach the resistance (B) 1.0804 – 1.0792, the trend’s boundary. Thus, consider short trades near this area with the main target at the June 26 low.
If the price returns below 1.0750, a sell pattern will be formed. In this case, consider short trades with the first target near 1.0712 and the second target at the June 26 low.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0758 – 1.0750. TakeProfit: 1.0712, 1.0666. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (В) 1.0804 – 1.0792. TakeProfit: 1.0666. StopLoss: according to the pattern rules.
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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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