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 reached the Target Zone 2773 – 2756 last week.
The article covers the following subjects:
Major Takeaways
-
USCrude: oil is trying to consolidate below the support (B) 74.85 – 74.40.
-
XAUUSD: gold is retreating from the Target Zone 2778 – 2766.
-
EURUSD: the euro is trading in a downward correction within a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Last Friday, oil closed within the support (B) 74.85 – 74.40 in the US trading session. Thus, the short-term trend remains upward. Today, one may consider long trades if the price returns to the support (B) and settles above the 74.85 level. In this case, the first bullish target will be 76.88, and the second one will be the January high of 79.36.
If the price closes below the support (B) in the US trading session today, the short-term uptrend will reverse. In this case, one may consider short trades with the main target in the lower Target Zone 69.46 – 68.47, starting from tomorrow.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Last week, gold reached the Target Zone 2773 – 2756 within the short-term uptrend but failed to pierce this resistance. As a result, a downward correction has started with the first target at the support (A) 2728 – 2722. Once this support is tested, consider long trades with the first target near 2754 and the second one at the January 24 high of 2785.
If the asset breaks through the support (A) today, the correction may continue to the support (B) 2699 – 2691, the short-term uptrend boundary. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2728 – 2722. TakeProfit: 2754, 2785. StopLoss: 2711.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining a short-term uptrend. The price is trading in a downward correction, likely targeting the support (A) 1.0429 – 1.0420. Once this zone is tested, consider long trades with the first target of 1.0471 and the second one near the January 24 high of 1.052.
The trend boundary is shifting to 1.0383 – 1.0369. If the price falls to this area, long trades can be considered.
If the asset settles above last Friday’s high, the euro may climb to the Gold Zone 1.0554 – 1.0545.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0429 – 1.0420. TakeProfit: 1.0471, 1.0521. StopLoss: 1.0401.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
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 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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
