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 continues to trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has reached the support (A) 76.35 – 76.05. Consider long trades near this zone.
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XAUUSD: gold is trying to continue rising with the target in the Target Zone 2773 – 2756.
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EURUSD: the euro has reversed its downtrend and reached all yesterday’s bearish targets.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil dropped to the support (A) 76.35 – 76.05 within a correction but failed to pierce it. Therefore, consider long trades within the short-term uptrend with the first target of 77.70. If the price breaks through 77.70, the next target will be the January 15 high of 79.36.
If a correction occurs, the asset may breach the support (A) and reach the support (B) 74.85 – 74.40, the short-term uptrend’s boundary. Thus, consider long trades near this zone.
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 continued to trade in a short-term uptrend. Today, the price has exceeded last week’s high. The next bullish target is the upper Target Zone 2773 – 2756.
Consider long trades on a correction at the strong support (A) 2671 – 2666 and support (B) 2643 – 2634 with the main target at this week’s high.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2671 – 2666. TakeProfit: 2697, 2729. StopLoss: 2655.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro broke through the upper boundary of the 1.0315 – 1.0260 range. As a result, the short-term downtrend has reversed. The bullish target is the upper Target Zone 1.0481 – 1.0453. Consider long trades at the support (A) 1.0342 – 1.0333 with the first target of 1.0384 and the second one at yesterday’s high.
The price should pierce the support (B) 1.0296 – 1.0282 to allow traders to open short positions and reverse the trend. In this case, the asset may fall, aiming to reach below the January 13 low.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0342 – 1.0333. TakeProfit: 1.0384, 1.0434. StopLoss: 1.0316.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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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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