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.
Today, gold continues to rise within a short-term uptrend.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is trading near the Target Zone 68.85 – 67.86. Once a correction starts, consider short trades.
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XAUUSD: gold is trying to continue its short-term uptrend after touching the support (A) 2481 – 2476. The bullish target is the Target Zone 2529 – 2514.
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EURUSD: the euro is rising in a correction within the short-term downtrend. The correction’s target is the resistance (A).
Oil price forecast for today: USCrude analysis
Yesterday, oil continued to fall and reached the lower Target Zone 68.85 – 67.86 within a short-term downtrend. If the price breaches and consolidates below this zone today, the next bearish target will be the Gold Zone 66.25 – 65.99.
If bulls manage to hold the price above the Target Zone, an upward correction will start. In this case, the asset will grow to the strong resistance (A) 71.28 – 71.02 or resistance (B) 72.70 – 72.32. Once gold hits any of these zones, one may consider short trades.
USCrude trading ideas for today:
Sell at resistance (A) 71.29 – 71.02. TakeProfit: 69.84, 68.42. StopLoss: 71.74.
Gold forecast for today: XAUUSD analysis
Yesterday, gold tested the support (A) 2481 – 2476 again, but the price remained above this zone. Today, the asset continues to grow within the short-term uptrend. The bullish target is the upper Target Zone 2529 – 2514. After reaching this zone, the price will try to pierce it from below. If so, the next target will be the Gold Zone 2571 – 2566.
If the quotes do not breach the Target Zone, the price will decline. In this case, the asset will try to break through the support (A) and hit the support (B) 2452 – 2445, the trend’s boundary. Therefore, after reaching this zone, one may 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 started an upward correction. Today, the correction will likely continue to the target at the resistance (A) 1.1118 – 1.1110. Once the asset tests this resistance, consider short trades with the first target of 1.1072 and the second one near 1.1026. If the price consolidates below 1.1026, the next bearish target will be the lower Target Zone 1.0949 – 1.0924.
An alternative scenario suggests that the price will grow and breach the resistance (A). If so, the correction will continue to the trend’s boundary 1.1165 – 1.1152. Once the price reaches the boundary, one may consider short trades.
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 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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