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 correct within a short-term uptrend.
The article covers the following subjects:
Highlights and key points
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USCrude: Oil’s short-term uptrend has reversed. The bearish target is the Target Zone 68.92 – 68.02.
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XAUUSD: Gold continues to trade in correction within a short-term uptrend.
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EURUSD: The euro is testing the Target Zone 1.0962 – 1.0936. If this zone is breached, the next bearish target will be the Gold Zone 1.0878 – 1.0869.
Oil price forecast for today: USCrude analysis
Yesterday, oil‘s short-term uptrend reversed, and the price broke through the trend’s boundary 73.38 – 72.93. Now, the bearish target is the lower Target Zone 68.92 – 68.02. Consider short trades on a correction at the strong resistance (A) 74.44 – 74.14 and resistance (B) 76.09 – 75.64 with the main bearish target at yesterday’s low of 71.15.
USCrude trading ideas for today:
Sell at resistance (A) 74.44 – 74.14. TakeProfit: 72.80, 71.15. StopLoss: 75.15.
Gold forecast for today: XAUUSD analysis
Gold continues to correct within a short-term uptrend and is approaching the support (B) 2603 – 2594. Once this zone is tested, consider long trades with the first target of 2640 and the second one near 2685. If the price consolidates above 2685, the growth will continue to the target within the 2740 – 2729 area.
If the asset pierces the support (B) today, the short-term uptrend will reverse. In this case, consider short trades with the target in the lower Target Zone 2528 – 2512 starting from the next trading day.
XAUUSD trading ideas for today:
Buy at support (B) 2603 – 2594. TakeProfit: 2640, 2685. StopLoss: 2578.
Euro/Dollar forecast for today: EURUSD analysis
The euro is testing the Target Zone 1.0962 – 1.0936. Since the price is still trading within this zone, the potential decline is in question. If an upward momentum emerges in the Target Zone, correction may start. If so, the asset may grow to the resistance (A) 1.1041 – 1.1031 or the resistance (B) 1.1093 – 1.1079. Once these zones are tested, one may consider short trades with the first target of 1.0988 and the second one at yesterday’s low of 1.0935.
EURUSD trading ideas for today:
Sell at resistance (A) 1.1041 – 1.1031. TakeProfit: 1.0988, 1.0935. StopLoss: 1.1060.
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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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