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.
Oil is trading in a bullish trend.
The article covers the following subjects:
Technical analysis key points
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USCrude: Oil is trading in an uptrend. The growth target is the zone 84.75 – 84.45. If a correction starts, key support levels are 81.02 – 80.74 and 79.65 – 79.23.
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XAUUSD: Gold is testing the short-term downtrend boundary 2369 – 2361. Short trades with targets at 2327 and 2287 are possible. If the trend boundary is broken through, gold may rise to 2451 – 2436.
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EURUSD: The euro’s short-term downtrend is reversing. Long trades can be initiated next week if the price consolidates above 1.0804 in the US session.
Oil price forecast for today: USCrude analysis
USCrude: Oil is trading in an uptrend. The growth target is the zone 84.75 – 84.45. If a correction starts, key support levels are 81.02 – 80.74 and 79.65 – 79.23.
XAUUSD: Gold is testing the short-term downtrend boundary 2369 – 2361. Short trades with targets at 2327 and 2287 are possible. If the trend boundary is broken through, gold may rise to 2451 – 2436.
EURUSD: The euro’s short-term downtrend is reversing. Long trades can be initiated next week if the price consolidates above 1.0804 in the US session.
Oil continues to trade in a short-term uptrend. The price is rising with the target at the July 2 high. If the quotes consolidate above this level, the next target will be the Gold Zone 84.75 – 84.45.
It is favorable to consider long trades near strong the support (A) 81.02 – 80.74 and support (B) 79.65 – 79.23. The support levels will shift if the price exceeds the July 2 high.
USCrude trading ideas for today:
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Buy according to the pattern at support (A) 81.02 – 80.74. TakeProfit: 83.72. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 79.65 – 79.23. TakeProfit: 83.72. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is rising and intends to break the short-term downtrend boundary of 2369 – 2361. If the asset pierces this zone from below and closes higher in the US session, the short-term trend will change to an uptrend. In this case, it will be possible to consider long trades with the target at the upper Target Zone 2451 – 2436 next week.
If bears manage to hold the price below the downtrend boundary, and a bearish pattern appears, it will be possible to open short trades with the first target in the area of 2327. The second bearish target will be at 2286.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: 2327, 2287. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro’s downtrend is reversing. If the pair consolidates above 1.0804 in the US trading session today, consider purchasing the instrument with a target in the upper Target Zone 1.0943 – 1.0918 next week. Long trades can be opened at strong support (A) 1.0742 – 1.0733 and support (B) 1.0700 – 1.0687.
If the price returns below 1.0792 and forms a bearish pattern, it will be possible to sell the instrument with the first target at 1.0742 according to the pattern.
EURUSD trading ideas for today:
Watch the market.
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Price chart of USCRUDE 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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