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 reached the resistance (A) 1.1118 – 1.1110.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the lower Target Zone 68.85 – 67.86. The price has not breached this zone. Thus, an upward correction may start.
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XAUUSD: gold is again testing the resistance, the Target Zone 2529 – 2514. If the asset breaks through this area, the price may grow to the Gold Zone 2571 – 2566.
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EURUSD: the euro has corrected to the resistance (A) 1.1118 – 1.1110. Consider short trades in this zone with the first target of 1.1072.
Oil price forecast for today: USCrude analysis
On Friday morning, oil remains under pressure. The price is testing the lower Target Zone 68.85 – 67.86. If the asset pierces this zone, the next bearish target will be the Gold Zone 66.25 – 65.99. If bulls manage to keep the price above the Target Zone, a correction will unfold.
If the correction develops, the asset will likely climb to the resistance (A) 71.21 – 70.95. Once this zone is tested, one may consider short trades with the first target of 69.78. If the price breaks through the resistance (A) today, the correction will continue to the trend’s boundary 72.64 – 72.25. Consider short trades in this zone.
USCrude trading ideas for today:
Sell at resistance (A) 71.21 – 70.95. TakeProfit: 69.78, 68.35. StopLoss: 71.71.
Gold forecast for today: XAUUSD analysisÂ
After testing the support (A) 2481 – 2476 again, gold has increased and hit the Target Zone 2529 – 2514, a strong resistance level. If the price breaches this area, the next bullish target will be the Gold Zone 2571 – 2566. If the asset remains in the Target Zone, a correction will unfold again, and the quotes will likely test the support (A).
If gold pierces the support (A), a deeper correction will emerge with the target at the support (B) 2452 – 2445, the trend’s boundary. Therefore, once it is reached, consider long trades.
XAUUSD trading ideas for today:
Buy at support (B) 2456 – 2449. TakeProfit: 2488, 2531. StopLoss: 2428.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro hit the resistance (A) 1.1118 – 1.1110 but failed to break through it. Thus, consider short trades today near this zone with the first target of 1.1072 and the second one of 1.1026.
If the asset breaks through the resistance (A) today, the correction will continue to the resistance (B) 1.1165 – 1.1152, the short-term downtrend’s boundary. Therefore, consider short trades once this zone is reached.
The euro should pierce and consolidate above the 1.1165 level to reverse the trend and create buying opportunities.
EURUSD trading ideas for today:
Sell at resistance (A) 1.1118 – 1.1110. TakeProfit: 1.1072, 1.1026. StopLoss: 1.1135.
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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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