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 reached the resistance (B) within a correction.
The article covers the following subjects:
Highlights and key points
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USCrude: Oil has managed to remain above the Target Zone 75.72 – 74.90. An upward correction is underway. Consider short trades once the price tests the resistance (A).
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XAUUSD: Gold is growing to the resistance (B) 2435 – 2428. Consider short trades in this zone with the first target of 2394.
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EURUSD: The euro is testing the short-term uptrend’s key support 1.0822 – 1.0809. Consider long trades near this zone with the first target of 1.0878.
Oil price forecast for today: USCrude analysis
Yesterday, oil failed to break through the Target Zone 75.72 – 74.90. Today, the price trades in an upward correction within the short-term downtrend. The bullish target is the resistance (A) 77.50 – 77.20. Once the price reaches the resistance, consider short trades according to the pattern with the main target at the July 30 low.
If the asset breaches the Target Zone today, the short-term downtrend will continue with the target at the Gold Zone 72.99 – 72.71.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 77.50 – 77.20. TakeProfit: 74.26. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 79.13 – 78.68. TakeProfit: 74.26. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold reached the resistance (B) 2435 – 2428, the boundary of the short-term downtrend, within a correction. Therefore, consider short trades near this zone with the first target of 2394 and the second one near the July 25 low once the reversal pattern is formed.
If the price breaks through the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target near the upper Target Zone 2518 – 2503, starting from the next trading day.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (B) 2435 – 2428. TakeProfit: 2394, 2355. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trying to break through the boundary of the short-term uptrend of 1.0822 – 1.0809. If so, the uptrend will reverse. After that, consider short trades with the target near the lower Target Zone 1.0696 – 1.0670.
However, if the price remains above the boundary of the short-term uptrend and a bullish pattern is formed, long trades with the first target near 1.0878 can be considered. The second bullish target will be the July 17 high of 1.0948.
EURUSD trading ideas for today:
Buy according to the pattern at support (B) 1.0822 – 1.0809. TakeProfit: 1.0878, 1.0948. 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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