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 has reached all its bearish targets within a short-term downtrend.
The article covers the following subjects:
Highlights and key points
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USCrude: oil has declined after hitting the resistance (B) 72.01 – 71.51 within a short-term downtrend.
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XAUUSD: gold is trying to grow after touching the support (B) 2707 – 2699.
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EURUSD: the euro has plummeted amid Donald Trump’s victory in the US election.
Oil price forecast for today: USCrude analysis
Yesterday, oil reached the short-term downtrend’s boundary 72.01 – 71.51 but failed to settle above it. The price has decreased but is trying to start growing during the European trading session. Therefore, consider shifting short trades opened at the resistance (B) 72.01 – 71.51 to the breakeven point.
If the price breaks through the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target near the upper Target Zone 77.45 – 76.46.
USCrude trading ideas for today:
Hold up sales opened at resistance (B) 72.01 – 71.51. TakeProfit: 69.28, 66.56. StopLoss: at the breakeven.
Gold forecast for today: XAUUSD analysis
Gold has corrected and hit the short-term uptrend’s boundary near 2707 – 2699. However, bulls have managed to push the price higher. If the growth continues today, the 2744 level will be reached. The next bullish target will be 2790.
If the price pierces the support (B) 2707 – 2699 today, the uptrend will reverse. If so, consider short trades with the target near the lower Target Zone 2625 – 2608.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
The euro has hit all its bearish targets within the short-term downtrend today, the 1.0853 and 1.0761 levels. After that, the price breached the Target Zone 1.0794 – 1.0777 and fell below the October low. Thus, the next bearish target is the Gold Zone 1.0682 – 1.0670.
Consider short trades on a correction at the strong resistance (A) 1.0826 – 1.0814 and resistance (B) 1.0887 – 1.0870 with the main target at today’s low.
EURUSD trading ideas for today:
Sell at resistanceΒ (A) 1.0826 – 1.0814. TakeProfit: 1.0764, 1.0702. StopLoss: 1.0846.
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Price chart of EURUSD in real time mode
The content of this article reflects the authorβs 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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