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 is trying to continue its short-term uptrend.
The article covers the following subjects:
Highlights and key points
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USCrude: Oil is still trading in a downward correction, targeting the 81.19 – 80.92 area. Once the price reaches this zone, consider long trades.
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XAUUSD: Gold is correcting downward. The target of the correction may be the 2342 – 2337 area. After the price hits this zone, long trades can be considered.
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EURUSD: The euro maintains a short-term uptrend, with the main bullish target within the Target Zone of 1.0943 – 1.0918. Consider long trades at the support (A) or support (B).
Oil price forecast for today: USCrude analysis
Oil continues to trade in a downward correction, with the target at the support (A) 81.19 – 80.92. Once the price reaches this level, one may consider long trades within a short-term uptrend. The first bullish target will be 82.43, and the second — the July 5 high at 83.92.
If the asset breaks through the support (A) today, the correction will continue to the support (B) 79.82 – 79.41. Consider long trades after oil reaches this zone.
USCrude trading ideas for today:
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Buy according to the pattern at support (A) 81.19 – 80.92. TakeProfit: 82.43, 83.92. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 79.82 – 79.41. TakeProfit: 83.92. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in a downward correction within the short-term uptrend. The target of the correction may be the test of the support (A) 2342 – 2337. Once the asset tests this zone, one may consider long trades with the first target at 2365 and the second near the July 5 high at 2392. If the price breaks through the support (A), the correction will continue to the support (B) 2317 – 2310. Consider long trades within a short-term uptrend after the price hits this zone.
The gold price should breach the 2310 level to allow traders to open short positions. If successful, the uptrend will reverse.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (A) 2342 – 2337. TakeProfit: 2365, 2392. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 2317 – 2310. TakeProfit: 2392. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trying to continue its short-term uptrend. The main bullish target is the upper Target Zone of 1.0943 – 1.0918. However, traders should wait for a correction to open long trades. If the correction unfolds, the price may fall to the support area (A) 1.0761 – 1.0752. After the asset tests this level, one may consider long trades with the target at the July 8 high.
The trend’s boundary is shifting to 1.0719 – 1.0706. As long as the price is trading above this zone, one may consider long trades.
EURUSD trading ideas for today:
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Buy according to the pattern at support (A) 1.0761 – 1.0752. TakeProfit: 1.0844. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 1.0719 – 1.0706. TakeProfit: 1.0844. StopLoss: according to the pattern rules.
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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
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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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