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 after hitting the resistance 2663 – 2658.
The article covers the following subjects:
Highlights and key points
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USCrude: short trades on oil opened at the resistance 76.09 – 75.64 have reached all the targets.
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XAUUSD: gold has failed to pierce the resistance 2663 – 2658 and is declining to the first target of 2633.
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EURUSD: the euro is trading in a short-term downtrend. The main bearish target is the Gold Zone 1.0878 – 1.0869.
Oil price forecast for today: USCrude analysis
Yesterday, oil continued to trade in a short-term downtrend. Today, the price has hit its first bearish target near 71.15. If the asset consolidates below this level, the next target will be the lower Target Zone 68.92 – 68.02.
Consider short trades on a correction at the resistance (A) 74.17 – 73 87. The first bearish target will be 72.52, and the second one will be 70.87.
USCrude trading ideas for today:
Sell at resistance (A) 74.17 – 73 87. TakeProfit: 72.52, 70.87. StopLoss: 74.78.
Gold forecast for today: XAUUSD analysis
Gold is falling from the resistance 2663 – 2658. The first bearish target is 2633. If the price settles below this level, the next target will be 2603. Therefore, continue holding short trades open today according to the previous trading recommendations.
If the asset breaks through the resistance 2663 – 2658 today, the quotes may continue to grow and exceed the historical maximum near 2685.
XAUUSD trading ideas for today:
Hold up sales opened at resistance 2663 – 2658. TakeProfit: 2633, 2603. StopLoss: 2674.
Euro/Dollar forecast for today: EURUSD analysis
The euro continues to slide within a short-term downtrend. The main target is the Gold Zone 1.0878 – 1.0869. Once this zone is reached, an upward correction may emerge. If the correction starts from the current prices, the quotes may climb to the resistance (A) 1.0993 – 1.0984 or the resistance (B) 1.1046 – 1.1032. Once these zones are reached, consider short trades with the main target at yesterday’s low of 1.0889.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0993 – 1.0984. TakeProfit: 1.0941, 1.0888. StopLoss: 1.1016.
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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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