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.
Gold continues to trade in a correction within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is retreating from the Target Zone 75.11 – 74.33.
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XAUUSD: gold is trading below the resistance (B) 2678 – 2670 within a downtrend.
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EURUSD: the euro is testing the support (B) 1.0298 – 1.0285 within the short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil exceeded the January 6 high but failed to break through the upper Target Zone 75.11 – 74.33. As a result, the price has declined. Now, the asset is trading in a correction. If the correction continues today, the oil price may test the support (A) 72.02 – 71.76. Once this zone is tested, consider long trades with the first target of 73.19 and the second one at yesterday’s high.
USCrude Trading Ideas for Today:
Buy at support (A) 72.02 – 71.76. TakeProfit: 73.19, 74.63. StopLoss: 71.24.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a correction within the short-term downtrend. Yesterday, the price failed to pierce the key resistance 2678 – 2670. Therefore, consider short trades near this zone today with the first target of 2631 and the second one of 2583.
The asset should break through the 2678 level to reverse the trend and create buying opportunities. In this case, the short-term downtrend will reverse, and the bullish target will be the upper Target Zone 2773 – 2756.
XAUUSD Trading Ideas for Today:
Sell at resistance (B) 2678 – 2670. TakeProfit: 2631, 2583. StopLoss: 2695.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to trade in a correction. As a result, the asset has hit the support (B) 1.0298 – 1.0285. However, bulls have managed to keep the price above this zone. Therefore, consider long trades near this zone today with the first target of 1.0361 and the second one of 1.0436.
The price should pierce the 1.0298 – 1.0285 area to reverse the trend. If so, one may consider short trades with the main target in the lower Target Zone 1.0160 – 1.0133, starting from tomorrow.
EURUSD Trading Ideas for Today:
Buy at support (В) 1.0298 – 1.0285. TakeProfit: 1.0361, 1.0436. StopLoss: 1.0256.
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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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