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.
The euro reached the Gold Zone 1.0261 – 1.0252 last week.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trading in a short-term uptrend with a bullish target near 75.11 – 74.33.
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XAUUSD: gold is declining within a short-term downtrend.
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EURUSD: the euro is trading in an upward correction after hitting the Gold Zone 1.0261 – 1.0252.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a short-term uptrend. The bullish target is the Target Zone 75.11 – 74.33. A small downward correction is emerging. If the correction continues, the quotes may fall to the support (A) 70.83 – 70.53. Once this zone is tested, consider long trades with the main target at today’s high.
If the price breaches the support (A) today, the correction may extend to the support (B) 69.33 – 68.87.
USCrude Trading Ideas for Today:
Buy at support (A) 70.83 – 70.53. TakeProfit: 72.18, 73.84. StopLoss: 69.94.
Gold Forecast for Today: XAUUSD Analysis
Gold is slumping within the short-term downtrend. The bearish target is the lower Target Zone 2553 – 2536. Thus, consider short trades at the resistance (A) 2647 – 2641 with the first target at 2615.
If the price pierces the resistance (A) today, the correction will continue to the resistance (B) 2678 – 2670, the trend boundary. Consequently, short trades can be considered near this zone.
XAUUSD Trading Ideas for Today:
Sell at resistance (A) 2647 – 2641. TakeProfit: 2615, 2583. StopLoss: 2659.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro hit the Gold Zone 1.0261 – 1.0252. However, bulls have managed to keep the price above this support zone. As a result, an upward correction has started within the short-term downtrend. During the correction, the asset has reached the resistance (A) 1.0325 – 1.0316 today. Consider short trades near this zone with the first target of 1.0275 and the second one of 1.0224.
If the price breaks through the resistance (A) today, the correction will continue to the resistance (B) 1.0376 – 1.0362. Consider short trades at this resistance with the main target of 1.0224.
EURUSD Trading Ideas for Today:
Sell at resistance (A) 1.0325 – 1.0316. TakeProfit: 1.0275, 1.0224. StopLoss: 1.0343.
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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.
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