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 correction.
The article covers the following subjects:
Highlights and key points
-
USCrude: oil is rising and approaching the resistance (A) 68.01- 67.71. Short trades can be considered near this zone.
-
XAUUSD: gold has failed to break through the Target Zone 2529 – 2514. If a correction develops, the price will fall to the support (A) 2481 – 2476.
-
EURUSD: the euro is maintaining a downtrend. The bearish target is the lower Target Zone 1.0949 – 1.0924.
Oil price forecast for today: USCrude analysis
Oil is trading in correction and approaching the resistance 68.01 – 67.71. Once this zone is tested, one may consider short trades with the main target at the September 10 low.
If the price breaches the resistance (A) today, the correction will continue to the trend’s boundary 69.65 – 69.20. Consider short trades with the first target of 67.19 and the second one at the September 10 low.
The asset should pierce and consolidate above the resistance (B) 69.65 – 69.20 to allow traders to open long trades and reverse the trend.
USCrude trading ideas for today:
-
Sell at resistance (A) 68.01 – 67.71. TakeProfit: 66.38, 64.74. StopLoss: 68.53.
-
Sell at resistance (B) 69.65 – 69.20. TakeProfit: 67.19, 64.74. StopLoss: 70.65.
Gold forecast for today: XAUUSD analysisÂ
Yesterday, gold failed to break through the upper Target Zone 2529 – 2514 and remained within it. Today, the asset will likely try to pierce this zone again. If bulls manage to hold the quotes above this area, the short-term uptrend will continue to the Gold Zone 2571 – 2566. If not, a correction may start.
Should the correction unfold, the price will slump to the support (A) 2481 – 2476. Once this zone is reached, consider long trades near the support (B) 2452 – 2445.
XAUUSD trading ideas for today:
Buy at support (B) 2452 – 2445. TakeProfit: 2488, 2531. StopLoss: 2427.
Euro/Dollar forecast for today: EURUSD analysisÂ
The euro continues to trade in a short-term downtrend. Yesterday, the price reached below the September 10 low. The main bearish target is the lower Target Zone 1.0949 – 1.0924.
If an upward correction starts today, the price may hit the resistance (A) 1.1094 – 1.1086. Once this resistance is tested, consider short trades with the main target at the September 11 low. The trend’s boundary is shifting to 1.1140 – 1.1128. If the asset reaches this zone during the correction, one may consider short trades near it.
EURUSD trading ideas for today:
-
Sell at resistance (A) 1.1094 – 1.1086. TakeProfit: 1.1048, 1.1002. StopLoss: 1.1112.
-
Sell at resistance (B) 1.1140 – 1.1128. TakeProfit: 1.1071, 1.1015. StopLoss: 1.1168.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
