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.
The euro’s short-term uptrend may reverse.
The article covers the following subjects:
Highlights and key points
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USCrude: Oil broke through the resistance (A) 77.50 – 77.20 yesterday. If the growth continues today, the price may reach the resistance (B) 79.13 – 78.68.
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XAUUSD: Gold’s short-term downtrend reversed. Now, the bullish target is the upper Target Zone 2518 – 2503.
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EURUSD: The euro traders are trying to reverse the short-term uptrend. If so, the main bearish target will be the lower Target Zone 1.0696 – 1.0670.
Oil price forecast for today: USCrude analysis
Yesterday, oil broke through the resistance (A) 77.50 – 77.20 during its upward correction within the short-term downtrend. Today, the correction will likely continue to the resistance (B) 79.13 – 78.68, a trend’s boundary.
Once the asset reaches the resistance (B), consider short trades with the first target at 76.68 and the second one at 74.24. Wait for a pattern to open short trades. If the price returns below 77.20, short trades can also be considered.
USCrude trading ideas for today:
Sell according to the pattern at resistance (B) 79.13 – 78.68. TakeProfit: 76.68, 74.24. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Yesterday, gold broke through the resistance (B) 2435 – 2428. Thus, the short-term downtrend reversed. In this connection, consider long trades today. The main bullish target will be the Target Zone 2518 – 2503.
Consider long trades on the correction from the support (A) 2408 – 2403 and support (B) 2383 – 2375. The first buy target will be today’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern near support (A) 2408 – 2403. TakeProfit: 2457. StopLoss: according to the pattern rules.
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Buy according to the pattern near support (B) 2383 – 2375. TakeProfit: 2457. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro‘s short-term uptrend may reverse. The price should breach the support (B) 1.0822 – 1.0809 to reverse the trend. If so, the lower Target Zone of 1.0696 – 1.0670 will be the main bearish target.
However, the price remains above the trend’s key support today. Therefore, the quotes may grow. In this case, a bullish pattern may emerge. If the pattern appears, long trades can be opened with the first target at 1.0878 and the second one at 1.094.
EURUSD trading ideas for today:
Buy according to the pattern near support (B) 1.0822 – 1.0809. TakeProfit: 1.0878, 1.0948. 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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