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 continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is testing the resistance near 68.68 and is poised to continue falling.
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XAUUSD: gold is rising after hitting the key support 2634 – 2626.
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EURUSD: The euro is trying to break through the resistance (B) 1.0484 – 1.0470.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend. The first bearish target is near 68.68, and the second one is 66.51. If the price reaches the second target, the asset may drop to the Gold Zone 65.93 – 65.63.
An alternate scenario suggests that quotes will grow and pierce the 70.85 level. In this case, the short-term downtrend will reverse. The bullish target will be the upper Target Zone 75.19 – 74.40.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (B) 70.85 – 70.45. TakeProfit: 66.51. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
On Monday, gold reached the short-term uptrend’s key support 2634 – 2626. Yesterday, bulls managed to push the price above this zone. Today, the quotes are growing. If the increase continues, the first bullish target will be the 2673 level, and the second one will be 2721. Therefore, one may consider long trades on a correction at the key support.
If the price breaks through the support (B) 2634 – 2626 today, the short-term uptrend will reverse. In this case, consider short trades with the main target in the lower Target Zone 2548 – 2531.
XAUUSD Trading Ideas for Today:
Buy at support (B) 2634 – 2626. TakeProfit: 2673, 2721. StopLoss: 2609.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tried to reverse the short-term downtrend. The price attempted to consolidate above the key resistance 1.0484 – 1.0470 but closed within this area in the US trading session. If the asset pierces the 1.0484 – 1.0470 zone, consider long trades with the target in the upper Target Zone 1.0636 – 1.0608. However, if a downward impulse forms, consider short trades within the current trend with the first target of 1.0408 and the second one near 1.0332.
EURUSD Trading Ideas for Today:
Watch the market.
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Price chart of USCRUDE 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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