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 continues to trade in a short-term downtrend.
The article covers the following subjects:
Highlights and key points
-
USCrude: oil has reached the first bearish target of 70.29 within the short-term downtrend.
-
XAUUSD: gold is trying to correct to the support (A) 2703 – 2697.
-
EURUSD: the euro is maintaining its downtrend, but an upward correction is developing.
Oil price forecast for today: USCrude analysis
Yesterday, oil touched the trend’s boundary, the resistance (B) 72.47 – 72.08. However, traders have opened short positions near this zone, causing a downward movement, during which the price has hit the first bearish target near 70.29. The second target is the October 18 low near 68.13.
If the asset breaks through the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 76.81 – 76.03.
USCrude trading ideas for today:
Hold up sales opened at resistance (B) 72.47 – 72.08. TakeProfit: 68.13. StopLoss: at the breakeven.
Gold forecast for today: XAUUSD analysis
Gold is trading in a short-term uptrend and is correcting downward. If the correction continues, the price may test the support (A) 2703 – 2697. Once this zone is tested, consider long trades again with the first target of 2728 and the second one of 2758.
If the price exceeds the October 23 high today, the next target within the trend will be 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 continues to trade in a short-term downtrend. Yesterday, the price corrected upward. If the correction continues today, the asset may test the resistance (A) 1.0884 – 1.0873. Once this zone 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 quotes may grow to the trend’s boundary 1.0946 – 1.0929. Consider short trades near this zone.
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 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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
