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.
The euro continues to trade in a short-term downtrend.
The article covers the following subjects:
Highlights and key points
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USCrude: oil continues to trade in a short-term downtrend. The bearish target is the lower Target Zone 68.92 – 68.02.
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XAUUSD: gold is about to exceed its historical high.
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EURUSD: the euro maintains its short-term downtrend. The next bearish target is the Target Zone 2, 1.0794 – 1.0777.
Oil price forecast for today: USCrude analysis
Oil is trading in a short-term downtrend. The bearish target is the Target Zone 68.92 – 68.02. Consider short trades on a correction at the strong resistance (A) 72.02 – 71.76 and resistance (B) 73.46 – 73.07. In this case, the first bearish target will be 70.58 and the second one will be 69.14.
The price should break through and consolidate above 73.46 to reverse the downtrend and create buying opportunities.
USCrude trading ideas for today:
Sell at resistance (A) 72.02 – 71.76. TakeProfit: 70.58, 69.14. StopLoss: 72.50.
Gold forecast for today: XAUUSD analysis
Yesterday, gold grew and hit the September high but failed to settle above this level. If the growth continues and the price consolidates above 2685 today, the next bullish target will be the Target Zone 2740 – 2729. If a downward correction starts from current prices, the quotes may fall to the support (B) 2603 – 2594. Once this zone is tested, one may consider long trades again with the target of 2685.
XAUUSD trading ideas for today:
Buy at support (B) 2603 – 2594. TakeProfit: 2685. StopLoss: 2578.
Euro/Dollar forecast for today: EURUSD analysis
The euro continues to trade in a short-term downtrend. The price has breached the Gold Zone 1.0878 – 1.0869 within the decline. The next bearish target is the Target Zone 2, 1.0794 – 1.0777. Consider short trades on a correction at the strong resistance (A) 1.0956 – 1.0947 and resistance (B) 1.1009 – 1.0995. The first bearish target will be 1.0904, and the second one will be today’s low.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0956 – 1.0947. TakeProfit: 1.0904, 1.0851. StopLoss: 1.0977.
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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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