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.
Oil has breached the short-term downtrend’s boundary 69.65 – 69.20.
The article covers the following subjects:
Highlights and key points
-
USCrude: oil is trying to reverse the short-term downtrend.
-
XAUUSD: gold has hit a new all-time high near 2600. After that, a correction started, and the price tested the support (A) 2547 – 2542.
-
EURUSD: yesterday, the euro failed to pierce the resistance (B) 1.1140 – 1.1128. As a result, the price has declined and reached the first bearish target near 1.1071.
Oil price forecast for today: USCrude analysis
Oil has breached the short-term downtrend’s boundary 69.65 – 69.20. If the asset closes higher in the US trading session, the downtrend will reverse. If so, consider long trades with the target in the upper Target Zone 74.59 – 73.70, starting from tomorrow.
If the price falls below the resistance 69.65 – 69.20, the asset may consolidate below yesterday’s low. If a sell pattern forms, consider short trades with the first target of 67.18 and the second one of 64.74.
USCrude trading ideas for today:
Watch the market.
Gold forecast for today: XAUUSD analysis
Yesterday, gold reached the support (A) 2547 – 2542 amid the US Fed interest rate decision. Today, long trades opened at this support have hit the first target near 2571. The next bullish target is yesterday’s high of 2600.
If gold drops today, the price may test the support (A) again. If the asset breaks through this area, a correction will continue to the support (B) 2521 – 2513.
XAUUSD trading ideas for today:
Buyย at support (B)ย 2521 – 2513. TakeProfit: 2556, 2600. StopLoss: 2497.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, a false breakoutย of the resistance (B) 1.1140 – 1.1128 occurred due to the US Fed interest rate decision. Afterward, the euroย began to decline and hit the first bearish target near 1.1071. Today, quotes once again corrected to the resistance (B). If a sell pattern unfolds near this area, one may consider short trades with the first target of 1.1071. If the price pierces the 1.1071 level, the next bearish target will be 1.1002.
If the asset breaks through the resistance (B) today and the price closes higher in the US trading session, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 1.1279 – 1.1254, starting from tomorrow.
EURUSD trading ideas for today:
Watch the market.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” ๐
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of USCRUDE in real time mode
The content of this article reflects the authorโs 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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
