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.
Yesterday, the euro corrected to the resistance (B).
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the resistance (B) 69.65 – 69.20. Consider short trades near this zone with targets of 67.18 and 64.74.
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XAUUSD: gold has breached the Gold Zone 2571 – 2566. The next bullish target is the Target Zone 2, 2629 – 2619.
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EURUSD: the euro is maintaining its short-term downtrend. Consider short trades at the resistance (B) 1.1140 – 1.1128 with targets of 1.1071 and 1.1002.
Oil price forecast for today: USCrude analysis
Oil is testing the short-term downtrend’s boundary 69.65 – 69.20. If the price fails to pierce this zone, one may consider short trades with the first target of 67.18 and the second one of 64.74.
If the price breaks through the resistance 69.65 – 69.20, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 74.59 – 73.70, starting from the next trading day.
USCrude trading ideas for today:
Watch the market.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in a short-term uptrend. Yesterday, the price consolidated above the Gold Zone, 2571 – 2566. The next bullish target is the Target Zone 2, 2629 – 2619. Consider long trades on a correction at the support (A) 2537 – 2531 and support (B) 2510 – 2502 with the target at this week’s high.
The price should breach and consolidate below the support (B) to allow traders to open short trades and reverse the uptrend.
XAUUSD trading ideas for today:
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Buy at support (A) 2537 – 2531. TakeProfit: 2560, 2589. StopLoss: 2520.
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Buy at support (B) 2510 – 2502. TakeProfit: 2546, 2589. StopLoss: 2485.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro corrected to the resistance (B) 1.1140 – 1.1128, the short-term downtrend’s boundary. Therefore, consider short trades near this zone today with the first target of 1.1071 and the second one of 1.1002.
The asset should pierce and settle above the resistance (B) to reverse the trend and create buying opportunities. If so, consider long trades with the target in the upper Target Zone 1.1279 – 1.1254, starting from the next trading day.
EURUSD trading ideas for today:
Sell at resistance (B) 1.1140 – 1.1128. TakeProfit: 1.1071, 1.1002. StopLoss: 1.1167.
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Price chart of EURUSD 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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