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.
The euro is testing the key support of the short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is rising toward the January 8 high.
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XAUUSD: gold is trying to break through the resistance (B) 2678 – 2670.
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EURUSD: the euro is testing the support (B) 1.0298 – 1.0285. Thus, one may consider long trades.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to grow within the short-term uptrend, aiming for the January 8 high. After exceeding this high, the price will likely break through the upper Target Zone 75.11 – 74.33. If so, the next bullish target will be the Gold Zone 77.21 – 76.95.
If the asset remains below the Target Zone today, the downward correction may start. The price may fall below yesterday’s low during the correction.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is testing the short-term downtrend’s key resistance 2678 – 2670, but bears are keeping the price within this zone. Therefore, consider short trades with the first target of 2631 and the second one near 2583.
If the price pierces the resistance (B) 2678 – 2670 today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 2773 – 2756, starting from tomorrow.
XAUUSD Trading Ideas for Today:
Sell at resistance (B) 2678 – 2670. TakeProfit: 2631, 2583. StopLoss: 2695.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is testing the short-term uptrend’s key support 1.0298 – 1.0285, but bulls are holding the price within this zone. Consequently, consider long trades near this zone with the first target of 1.0361 and the second one near 1.0436.
If the asset breaks through the support (B) 1.0298 – 1.0285 today, the short-term uptrend will reverse. In this case, one may consider short trades with the target in the lower Target Zone 1.0160 – 1.0133.
EURUSD Trading Ideas for Today:
Buy at support (B) 1.0298 – 1.0285. TakeProfit: 1.0361, 1.0436. StopLoss: 1.0256.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
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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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