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, gold’s short-term uptrend reversed.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the short-term downtrend’s boundary 72.01 – 71.51 again.
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XAUUSD: gold’s short-term uptrend has reversed.
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EURUSD: the euro is trading in a correction within the short-term downtrend.
Oil price forecast for today: USCrude analysis
Yesterday, oil tried to continue the short-term downtrend. However, the price has failed to reach the first bearish target near 69.28. As a result, the price has returned to the key resistance 72.01 – 71.51. If the asset breaks through this area today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 77.45 – 76.46.
If the price fails to pierce the resistance (B) 72.01 – 71.51 today, consider short trades once a reversal pattern emerges.
USCrude trading ideas for today:
Watch the market.
Gold forecast for today: XAUUSD analysis
Yesterday, gold‘s short-term uptrend reversed, and the price breached the support (B) 2707 – 2699. Now, the bearish target is the lower Target Zone 2625 – 2608.
Therefore, consider short trades on a correction at the resistance (A) 2706 – 2700 and resistance (B) 2738 – 2729. Today’s low will be the main bearish target.
XAUUSD trading ideas for today:
Sell at resistance (A) 2706 – 2700. TakeProfit: 2674, 2643. StopLoss: 2718.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro pierced the Target Zone 1.0794 – 1.0777 during the decline. Afterward, the asset hit the Gold Zone 1.0682 – 1.0670 during the European trading session, and an upward correction started.
If the correction continues today, the quotes may grow to the resistance (A) 1.0805 – 1.0794. Once this zone is tested, consider short trades with the first target of 1.0744 and the second one at yesterday’s low of 1.0682.
If the price breaks through the resistance (A) today, the correction will extend to the resistance (B) 1.0867 – 1.0850, the short-term downtrend’s boundary. Consider short trades near this zone.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0805 – 1.0794. TakeProfit: 1.0744, 1.0682. StopLoss: 1.0827.
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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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