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.
Oil has reached the resistance (A) 74.98 – 74.65.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is trading in an upward correction. The asset has reached the resistance (A) 74.98 – 74.65. Short trades can be considered near this zone.
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XAUUSD: gold is trying to break through the Target Zone 2529 – 2514 within a short-term uptrend. If the price breaches this zone, the next bullish target will be the Gold Zone 2569 – 2564.
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EURUSD: the euro has hit the Target Zone 2, 1.1214 – 1.1197, within a short-term uptrend. If the asset breaks through this zone, the next bullish target will be 1.1289 – 1.1281.
Oil price forecast for today: USCrude analysis
Oil reached the resistance (A) 74.98 – 74.65 on Monday. However, the short-term trend remains downward. Therefore, if bears manage to hold the price below the resistance (A), one may consider short trades with the first target of 73.16 and the second one of 71.35.
If the asset pierces the resistance (A) from below today, the correction will continue to the resistance (B) 76.79 – 76.30. Consider short trades in this zone with the main target of 71.35.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 74.98 – 74.65. TakeProfit: 73.16, 71.35. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 76.79 – 76.30. TakeProfit: 71.35. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trying to break through the Target Zone 2529 – 2514 within a short-term uptrend. If the asset breaches this zone, the next bullish target will be the Gold Zone 2569 – 2564. If the price remains below the Target Zone, the quotes will fall to the August 22 low.
Last week, the price corrected to the strong support (A) 2481 – 2476, and traders could open long trades in that zone with the targets of 2504 and 2531. As a result, the asset has reached its first target. Therefore, consider holding the purchases opened until the price hits 2531 today.
XAUUSD trading ideas for today:
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Hold up long trades opened at support (A) 2481 – 2476. TakeProfit: 2531. StopLoss: at the breakeven.
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Buy according to the pattern at support (B) 2456 – 2449. TakeProfit: 2531. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Last week, the euro reached the upper Target Zone 2, 1.1214 – 1.1197, but now the price remains below this area. If long trades are opened, a downward correction may start. The correction’s target will be the support (A) 1.1117 – 1.1109 or support (B) 1.1075 – 1.1063. If the price hits these levels, consider long trades at favorable prices with the main target at today’s high.
If the asset breaches and consolidates above the Target Zone 2 today, the next bullish target will be the Gold Zone 2, 1.1289 – 1.1281.
EURUSD trading ideas for today:
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Buy according to the pattern at support (A) 1.1117 – 1.1109. TakeProfit: 1.1200. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 1.1075 – 1.1063. TakeProfit: 1.1200. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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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