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 retreated below the Target Zone 2740 – 2729 yesterday.
The article covers the following subjects:
Highlights and key points
-
USCrude: oil is testing the resistance (A) 71.45 – 71.15 and is about to pierce it.
-
XAUUSD: gold corrected yesterday. The correction’s potential target is the support (A) 2703 – 2697.
-
EURUSD: the euro is maintaining a short-term downtrend. If the price breaks through the Target Zone 1.0894 – 1.0777, the next target will be the Gold Zone 1.0682 – 1.0670.
Oil price forecast for today: USCrude analysis
Oil is testing the resistance (A) 71.45 – 71.15 and is about to pierce it from below, as bears failed to keep the decline yesterday. Therefore, holding short trades at the resistance is no longer profitable. Wait until the price consolidates above the resistance (A) or falls below it.
If the asset breaches this zone from below, the correction will continue to the short-term downtrend’s boundary 73.11 – 72.66. Once this boundary is tested, short trades can be considered.
If the price fails to settle above the resistance (A) again, consider short trades with the first target of 69.79 and a second one of 68.13.
USCrude trading ideas for today:
Sell at resistance (B) 73.11 – 72.66. TakeProfit: 70.62, 68.13. StopLoss: 74.02.
Gold forecast for today: XAUUSD analysis
Gold retreated below the Target Zone 2740 – 2729 yesterday. If the decline continues today, the correction may proceed to the support (A) 2703 – 2697. Once the support (A) is tested, consider long trades with the first target of 2728 and the second one of 2758.
If the asset exceeds yesterday’s high, the uptrend will continue with the target in the Gold Zone 2789 – 2784.
XAUUSD trading ideas for today:
Buy at support (A) 2703 – 2697. TakeProfit: 2728, 2758. StopLoss: 2686.
Euro/Dollar forecast for today: EURUSD analysis
The euro is testing the Target Zone 1.0794 – 1.0777. If the price breaks through this zone from above, the short-term downtrend will likely continue to the Gold Zone 1.0682 – 1.0670. If not, an upward correction will begin, targeting to test the resistance (A) 1.0884 – 1.0873.
Once the resistance (A) is tested, consider short trades with the first target of 1.0822 and the second one of 1.0761. If the price pierces the resistance (A), the correction will continue to the trend’s boundary, the resistance (B) 1.0946 – 1.0929.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0884 – 1.0873. TakeProfit: 1.0822, 1.0761. StopLoss: 1.09046.
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.
