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 tested the resistance (A).
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, the oil price broke through the Target Zone 82.34 – 81.44. The next bullish target will be the Gold Zone of 84.75 – 84.45. Consider long trades within the short-term uptrend on correction at the strong support (A) 80.14 – 79.84 and support (B) 78.66 – 78.21. Once the price tests this zone and the bullish pattern is completed, one can consider long trades. Yesterday’s high will be the main bullish target.
USCrude trading ideas for today:
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Buy according to the pattern at support (A) 80.14 – 79.84. TakeProfit: 83.03. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 78.66 – 78.21. TakeProfit: 83.03. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues its upward correction within the short-term downtrend. If the trend continues, the price will likely reach below the June 26 low. In this case, bears will try to break through the Target Zone 2300 – 2285. If successful, the quotes will likely continue to decline with the target at the Gold Zone 2250 – 2245.
If the correction continues, the price may test the trend’s boundary at 2369 – 2361 again this week. Once the asset pierces this zone from below, the downtrend will reverse. In this connection, consider long trades with the target at the upper Target Zone 2451 – 2436.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro tested the resistance (A) 1.0758 – 1.0750 during its upward correction within the short-term downtrend. Bears managed to hold the asset below this area, leading to a price decline. If the trend continues today, the euro will likely reach the first bearish target near the 1.0712 level. If the price breaks through this mark, it will likely drop further and reach the second bearish target near 1.0666.
An alternative scenario suggests that the price will grow and breach the resistance (A). In this case, the asset may test the trend’s boundary 1.0804 – 1.0792. After that, consider short trades again.
EURUSD trading ideas for today:
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Hold up sales opened at resistance (A) 1.0758 – 1.0750. TakeProfit: 1.0712, 1.0666. StopLoss: at the breakeven.
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Sell according to the pattern at resistance (B) 1.0804 – 1.0792. TakeProfit: 1.0666. StopLoss: according to the pattern rules.
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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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