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.
Short trades opened at the resistance (A) 1.0760 – 1.0751 yielded profits yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil quotes are trading below the Target Zone of 82.34 – 81.44. Thus, the price may continue its bearish correction with the target at the support (A) 78.68 – 78.38. Once the asset tests this zone, one may consider long trades with the target at the June 25 high. If the price breaks through the support (A), the correction may continue to the support area (B) 77.20 – 76.75. Consider long trades in this zone, the trend’s boundary.
If the oil price reaches and consolidates above the June 25 high, the next bullish target may be the Gold Zone 84.75 – 84.45.Â
USCrude trading ideas for today:
-
Buy according to the pattern at support (A) 78.68 – 78.38. TakeProfit: 81.60. StopLoss: according to the pattern rules.
-
Buy according to the pattern at support (B) 77.20 – 76.75. TakeProfit: 81.60. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold maintains a short-term downtrend. The price has fallen and reached the Target Zone 2300 – 2285. If the asset breaks through this zone, the next bearish target will be the Gold Zone 2250 – 2245. In this connection, consider short trades on a correction.
If bulls hold the price above the Target Zone, the price may grow, and the key resistance 2369 – 2361 may be tested again. In this case, consider short trades according to the pattern near the key resistance. Short trades opened at the resistance 2369 – 2361 can be closed at current prices.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
Short trades opened at the resistance (A) 1.0760 – 1.0751 yielded profits yesterday. As a result, the price reached below the June 14 low. The price tested the Target Zone 1.0664 – 1.0638, and bulls managed to push the price higher. If this growth turns into a bullish correction, the asset may test new resistance (A) 1.0758 – 1.0750. Once the price tests the resistance (A), one may consider short trades with a target at the June 26 low.
If the price breaks through the Target Zone and closes below this area in the US trading session, the next bearish target will be the Gold Zone 1.0580 – 1.0571.
EURUSD trading ideas for today:
-
Sell according to the pattern at resistance (A) 1.0758 – 1.0750. TakeProfit: 1.0669. StopLoss: according to the pattern rules.
-
Sell according to the pattern at resistance (B) 1.0804 – 1.0792. TakeProfit: 1.0669. StopLoss: according to the pattern rules.
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 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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
