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 uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is poised to exceed the November 22 high near 71.36.
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XAUUSD: gold is correcting downward with the target at the support (B) 2639 – 2631.
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EURUSD: the euro is trading above the short-term uptrend’s key support 1.0491 – 1.0478.
Oil Price Forecast for Today: USCrude Analysis
Oil will likely continue to grow and surpass the November 22 high near 71.36. If so, the price may break through the short-term downtrend’s key resistance 70.85 – 70.45. In this case, the downtrend will reverse, and one may consider long trades with the target in the upper Target Zone 75.19 – 74.40.
If the price remains below the November 22 high, consider short trades with the main target at the December low near 66.79.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold keeps trading in a downward correction within the short-term uptrend, targeting the key support 2639 – 2631. Once this zone is reached, consider long trades with the first target near 2678. If the price consolidates above this level, the next bullish target will be the December high near 2726.
If the asset pierces the trend boundary 2639 – 2631, one may consider short trades with the target in the lower Target Zone 2553 – 2536.
XAUUSD Trading Ideas for Today:
Buy at support (B) 2639 – 2631. TakeProfit: 2678, 2726. StopLoss: 2615.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a correction within the short-term uptrend. Yesterday, the price tested the key support 1.0491 – 1.0478 but failed to breach it. Therefore, consider holding long trades initiated in this zone open until the quotes hit the first target of 1.0553 and the second one near 1.0629.
The asset should break through and settle below the December 13 low to allow traders to open short trades. In this case, consider short trades with the target in the lower Target Zone 1.0353 – 1.0326.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (B) 1.0491 – 1.0478. TakeProfit: 1.0553, 1.0629. StopLoss: 1.0450.
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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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