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 a short-term downtrend.
The article covers the following subjects:
Major Takeaways
-
USCrude: Oil is trading in a downward momentum. The bearish target is 66.56.
-
XAUUSD: Gold maintains a short-term downtrend. The bearish target is the Target Zone 2510 – 2498.
-
EURUSD: Yesterday, the euro broke through the Target Zone 1.0570 – 1.0547. The next bearish target is the Gold Zone 1.0458 – 1.0446.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend. The main bearish target is 66.56. If the price pierces this level, the asset may test the Gold Zone 65.93 – 65.63.
An alternative scenario suggests that the quotes will rise above 69.28. In this case, the correction may continue to the level of 72.00. If the price breaches the 72.00 level, the short-term downtrend will reverse.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend. Yesterday, the price broke through the Gold Zone 2570 – 2564. The next bearish target is the Target Zone 2510 – 2498. Now, the asset is trying to correct upward. If the correction proceeds, the price may test the resistance (A) 2600 – 2594. Once this zone is tested, consider short trades with the main target near yesterday’s low.
XAUUSD Trading Ideas for Today:
Sell at resistance (A) 2600 – 2594. TakeProfit: 2568, 2536. StopLoss: 2611.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to trade in a short-term downtrend yesterday. As a result, the price has pierced the Target Zone 1.0570 – 1.0547. The next bearish target is the Gold Zone 1.0458 – 1.0446. Consider short trades on a correction at the resistance (A) 1.0619 – 1.0608 or resistance (B) 1.0681 – 1.0664.
The price should break through and settle above 1.0681 to reverse the downtrend. In this case, the bullish target will be the upper Target Zone 1.0865 – 1.0832.
EURUSD Trading Ideas for Today:
Sell at resistance (A) 1.0619 – 1.0608. TakeProfit: 1.0557, 1.0496. StopLoss: 1.0640.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
