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 has reversed its short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has broken through the Gold Zone 77.21 – 76.95. The next bullish target is the Target Zone 80.95 – 80.35.
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XAUUSD: gold has breached the resistance (B) 2678 – 2670. Now, the price is trying to settle above last week’s high.
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EURUSD: the euro is trying to pierce the resistance (B) 1.0329 – 1.0315 to reverse its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continued to trade in a short-term uptrend yesterday. As a result, the asset has pierced the Gold Zone 77.21 – 76.95. The next bullish target is the Target Zone 2, 80.95 – 80.35. Consider long trades during corrections. If a deep correction develops, the price may fall to the support (A) 76.35 – 76.05. Consider long trades near this zone with the first target of 77.70 and the second one near yesterday’s high.
USCrude Trading Ideas for Today:
Buy at support (A) 76.35 – 76.05. TakeProfit: 77.70, 79.36. StopLoss: 75.44.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reversed its short-term downtrend. Tha price has broken through the resistance (A) 2678 – 2670 and exceeded last week’s high. The main bullish target is the upper Target Zone 2773 – 2756.
Consider long trades on a correction at the strong support (A) 2644 – 2638. The key support of the new trend is the 2615 – 2607 area.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2644 – 2638. TakeProfit: 2670, 2702. StopLoss: 2627.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tested the resistance (B) 1.0329 – 1.0315 amid the US inflation news but failed to pierce it. As a result, the price returned below the resistance (B). If the asset breaks through and consolidates above this level today, the short-term downtrend will reverse. In this case, consider long trades with the main target in the Target Zone 1.0481 – 1.0453, starting from tomorrow.
If the price remains below the resistance (B) today, one may consider short trades with the first target of 1.0253 and the second one near 1.0177.
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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