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.
Oil rebounded from the support (A) 81.19 – 80.92 and continues to grow now.
The article covers the following subjects:
Highlights and key points
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USCrude: After hitting the support (A) 81.19 – 80.92, oil continues to rise. Consider holding long trades with the first target at 82.42 today.
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XAUUSD: Gold is correcting downward after the recent growth, likely targeting the support (A) 2374 – 2369. After reaching this level, long trades can be considered.
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EURUSD: The euro is strengthening and approaching the Target Zone. Consider long trades at the 1.0816 – 1.0807 and 1.0774 – 1.0761 zones.
Oil price forecast for today: USCrude analysis
After hitting the support (A) 81.19 – 80.92, oil continues to rise within the short-term uptrend. The first bullish target is 82.42, and the second one may be the July 5 high. If the price consolidates above the July 5 high, the asset will continue to grow to the Gold Zone 84.75 – 84.45.
An alternative scenario suggests the price may break through the support (A) and correct to the support (B) 79.82 – 79.41. If the price reaches the support (B), one may consider long trades.
USCrude trading ideas for today:
Hold up long trades opened at support (A) 81.19 – 80.92. TakeProfit: 82.42, 83.92. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continued its short-term uptrend yesterday. As a result, the price approached the Target Zone 2451 – 2436 and is currently starting a correction. If the quotes reach the support (A) 2374 – 2369 during the correction, one may consider long trades according to the pattern with the main target at yesterday’s high.
If the asset breaks through the support (A), the correction will continue to the support (B) 2349 – 2342, the trend’s boundary. Thus, if the price reaches this level, long trades can be considered.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (A) 2374 – 2369. TakeProfit: 2423. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 2349 – 2342. TakeProfit: 2423. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro continued its short-term uptrend yesterday. The price approached the Target Zone 1.0943 – 1.0918. At the moment, the quotes are trading in a downward correction. If the correction continues today, the price may test the support (A) 1.0816 – 1.0807. After that, one may consider long trades in this area according to the pattern with the main target at yesterday’s high.
If the price breaches the support (A), the correction will continue to the support (B) 1.0774 – 1.0761, the trend’s boundary. Therefore, consider long trades in this zone.
EURUSD trading ideas for today:
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Buy according to the pattern at support (A) 1.0816 – 1.0807. TakeProfit: 1.0898. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 1.0774 – 1.0761. TakeProfit: 1.0898. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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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