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 continues to trade in a short-term uptrend.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is trading in a short-term downtrend. A correction is underway.
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XAUUSD: gold is maintaining its short-term uptrend with the target in the Target Zone 2740 – 2729.
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EURUSD: the euro has pierced the Gold Zone 1.0878 – 1.0869. The next bearish target is the Target Zone 1.0794 – 1.0777.
Oil price forecast for today: USCrude analysis
Yesterday, oil continued to trade in a short-term trend. As a result, the price has reached the Target Zone 68.92 – 68.02. An upward correction is developing. The correction’s target is to test the resistance (A) 71.74 – 71.47. Once this zone is tested, one may consider short trades with the first target of 70.30 and the second one near 68.85.
If the asset breaks through the resistance (A) today, the correction will continue to the resistance (B) 73.18 – 72.78, the trend’s boundary.
USCrude trading ideas for today:
Sell at resistance (A) 71.74 – 71.47. TakeProfit: 70.30, 68.85. StopLoss: 72.27.
Gold forecast for today: XAUUSD analysis
Gold is maintaining its short-term uptrend. Yesterday, the price breached the Gold Zone 2679 – 2674. The next bullish target is the Target Zone 2740 – 2729. Once this target is reached, a downward correction may start. If so, the asset may hit the support (A) 2659 – 2653. Consider long trades near this zone with the first target of 2683 and the second one of 2714.
XAUUSD trading ideas for today:
Buy at support (A) 2659 – 2653. TakeProfit: 2683, 2714. StopLoss: 2642.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro pierced the Gold Zone 1.0878 – 1.0869. The next bearish target is the Target Zone 1.0794 – 1.0777. Consider short trades on a correction at the strong resistance (A) 1.0916 – 1.0907 and resistance (B) 1.0969 – 1.0955 with the main bearish target at yesterday’s low.
The price should breach and consolidate above 1.0969 to allow traders to open long trades and reverse the downtrend.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0916 – 1.0907. TakeProfit: 1.0863, 1.0811. StopLoss: 1.0935.
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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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