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 is declining during a correction within the short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trading in a range.
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XAUUSD: gold is correcting downward with a target at the support (A) 2668 – 2662.
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EURUSD: the euro is piercing the short-term uptrend’s key support 1.0491 – 1.0478.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a range. The margin zone 70.85 – 70.45 serves as the resistance level. The 67.00 – 66.50 area is the support. Yesterday, the price hit the bullish target. Thus, consider short trades today with the target near the flat range’s lower boundary 67.00 – 66.50. One may partially lock in profits at the 68.68 level. A stop-loss order can be set above yesterday’s high.
The asset should breach the upper boundary of 70.85 or the lower one of 66.50 to establish a stronger price movement.
USCrude Trading Ideas for Today:
Sell at 66.93. TakeProfit: 68.68. StopLoss: 70.33.
Gold Forecast for Today: XAUUSD Analysis
Gold is falling during a correction within the short-term uptrend. The bearish target is likely the support (A) 2668 – 2662. Once this zone is tested, one may consider long trades with the first target of 2694 and the second one near 2726.
The trend boundary is shifting to 2639 – 2631.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2668 – 2662. TakeProfit: 2694, 2726. StopLoss: 2652.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is piercing the short-term uptrend boundary 1.0491 – 1.0478. If the price closes below this area in today’s US trading session, one may consider short trades with the target in the lower Target Zone 1.0353 – 1.0326 next week.
However, if the price returns to the support 1.0491 – 1.0478 and forms a bullish pattern today, consider long trades with the first target of 1.0553 and the second one of 1.0629.
EURUSD Trading Ideas for Today:
Watch the market.
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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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