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 correcting upward.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the Target Zone 68.92 – 68.02. If the price remains above this zone, the price will grow to the resistance (A) 71.45 – 71.15.
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XAUUSD: gold has reached the Target Zone 2740 – 2729. A correction may start within a short-term uptrend.
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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. The price is correcting upward today.
Oil price forecast for today: USCrude analysis
Oil has hit the Target Zone 68.92 – 68.02 within a short-term downtrend and is now correcting upward. If the correction continues this week, the asset may reach the resistance (A) 71.45 – 71.15 and resistance (B) 73.11 – 72.66.
Once any of them is reached, consider short trades with the main bearish target at the October 18 low.
USCrude trading ideas for today:
Sell at resistance (A) 71.45 – 71.15. TakeProfit: 69.79, 68.13. StopLoss: 72.10.
Gold forecast for today: XAUUSD analysis
Gold has touched the Target Zone 2740 – 2729 within the short-term uptrend. The price has failed to break through this zone. Therefore, the further growth remains questionable. Nevertheless, a downward correction may start from the current prices.
If the correction develops, gold may fall to the support (A) 2677 – 2672 and support (B) 2650 – 2642.
Once these zones are reached, consider long trades with the main target at today’s high.
XAUUSD trading ideas for today:
Buy at support (A) 2677 – 2672. TakeProfit: 2702, 2732. StopLoss: 2661.
Euro/Dollar forecast for today: EURUSD analysis
The euro is correcting upward within a short-term downtrend. The potential target is the resistance (A) 1.0916 – 1.0907. Once this area is reached, one may consider short trades with the first target of 1.0863 and the second one near 1.0811. If the asset pierces the resistance (A) today, the correction will continue to the trend’s boundary 1.0969 – 1.0955. Consider short trades near this zone with the main target of 1.0811.
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 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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