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 broke through the resistance (A), but rather than continuing to grow, the price declined.
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, but the price did not reach the resistance (B) 79.13 – 78.68. Keep waiting for profitable prices to open short trades.
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XAUUSD: Gold continues to strengthen. In this connection, consider long trades during a correction from strong support levels.
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EURUSD: The euro’s short-term uptrend reversed. Now, the bearish target is the Target Zone 1.0696 – 1.0670.
Oil price forecast for today: USCrude analysis
Yesterday, oil broke through the resistance (A) 77.50 – 77.20. However, the quotes did not reach the resistance (B) 79.13 – 78.68, but instead dropped again and tested the lower Target Zone 75.72 – 74.90. The short-term trend remains downward.
If the price continues to fall and the asset breaches the Target Zone today, the next target will be the Gold Zone 72.99 – 72.71. If the price remains above the Target Zone, an upward correction will start, and the asset will aim to test the resistance (B) 79.13 – 78.68, the trend’s boundary. Therefore, once the price reaches this zone, one may consider short trades.
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
Gold‘s short-term uptrend continues. The main target is the upper Target Zone 2518 – 2503. Consider long trades on a correction from the strong support level (A) 2418 – 2413 and support (B) 2393 – 2385. The main bullish target will be today’s high.
If the asset continues to grow today, the support levels should be reconsidered.
The price should breach and consolidate below the 2385 level to allow traders to open short trades and change the trend.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (A) 2418 – 2413. TakeProfit: 2467. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 2393 – 2385. TakeProfit: 2467. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro‘s short-term uptrend reversed yesterday. The price broke through the support (B) 1.0822 – 1.0809. The main bearish target is the lower Target Zone 1.0696 – 1.0670.
Consider short trades on a correction from the resistance (A) 1.0869 – 1.0861 and resistance (B) 1.0916 – 1.0903. The main bearish target will be yesterday’s low.
The price should breach and consolidate above the 1.0916 level to allow traders to open long trades and reverse the trend.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0869 – 1.0861. TakeProfit: 1.0777. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 1.0916 – 1.0903. TakeProfit: 1.0777. StopLoss: according to the pattern rules.
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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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