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 trying to continue rising after hitting the short-term uptrend’s key support.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is consolidating at 68.68 within the downtrend.
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XAUUSD: gold is growing after hitting the support (B) 2634 – 2626 with the first target of 2673.
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EURUSD: the euro continues to trade in a short-term uptrend with the main target in the Target Zone 1.0636 – 1.0608.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining a short-term downtrend. The main bearish target is 66.51. If the price settles below this level, the asset may test the Gold Zone 65.93 – 65.63.
The price should break through the 70.84 level to create buying opportunities and reverse the trend. In this case, consider long trades with the main target in 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
Gold is trying to continue growing after hitting the short-term uptrend’s key support 2634 – 2626. The first and the second bullish targets are 2673 and 2721, respectively. Therefore, consider shifting the trades initiated yesterday to the breakeven point today, holding them open until the price reaches all the mentioned targets.
If the decline starts, and the price pierces and consolidates below the support (B) 2634 – 2626 in the US trading session, the short-term uptrend will reverse. In this case, consider short trades with the main target in the lower Target Zone 2548 – 2531, starting from next week.
XAUUSD Trading Ideas for Today:
Hold up long trades opened at support (B) 2634 – 2626. TakeProfit: 2673, 2721. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term uptrend. The main bullish target is the Target Zone 1.0636 – 1.0608. If the asset breaks through the Target Zone today, the next target will be the Gold Zone 1.0709 – 1.0700.
Consider long trades on a correction at the strong support support (A) 1.0495 – 1.0486 and support (B) 1.0449 – 1.0435. If the price tests the support (A) and then starts to climb, the first profit target will be 1.0536, and the second one will be the November 27 high near 1.0587.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0495 – 1.0486. TakeProfit: 1.0536, 1.0587. StopLoss: 1.0467
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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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