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 is trading in an upward correction.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price continues to grow and is now testing the Target Zone 82.34 – 81.44. Once the price breaks through this zone, the next bullish target will be the Gold Zone 84.75 – 84.45. If bulls manage to hold the price in the Target Zone, the quotes will start a correction.
If the correction continues, the price will likely reach the support (A) 78.88 – 78.59. After that, one can consider long trades according to the pattern with the target at today’s high.
USCrude trading ideas for today:
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Buy according to the pattern at support (A) 78.88 – 78.59. TakeProfit: 81.84. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 77.40 – 76.95. TakeProfit: 81.84. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in an upward correction. The short-term trend remains bearish. If the correction continues, the price may test the resistance (B) 2369 – 2361 again. Once the asset tests this zone, one may consider short trades according to the pattern with the target at the June 26 low.
If the gold price breaks through the resistance (B) and closes above this area in the US trading session, the short-term downtrend may reverse. In this connection, consider long trades with the target within the upper Target Zone 2451 – 2436, starting from the next trading day.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: 2295. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro quotes started to correct after reaching the main bearish target on June 26. If the correction continues, the price may test the resistance (A) 1.0758 – 1.0750. After that, one may consider short trades with the targets at 1.0712 – 1.0666.
The short-term trend remains downward. The price will likely reach below the June 26 low and break through the Target Zone 1.0664 – 1.0638. If the asset consolidates below this area, the next bearish target will be the Gold Zone 1.0580 – 1.0571.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0758 – 1.0750. TakeProfit: 1.0712, 1.0666. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 1.0804 – 1.0792. TakeProfit: 1.0666. StopLoss: according to the pattern rules.
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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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