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 is testing the support (B) 67.74 – 67.30.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the support (B) 67.74 – 67.30.
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XAUUSD: gold has tested the resistance 2676 – 2671 but failed to pierce it.
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EURUSD: the euro continued its short-term uptrend yesterday. As a result, the asset has reached its first bullish target near 1.1167.
Oil price forecast for today: USCrude analysis
Oil is testing the support (B) 67.74 – 67.30. This support, the short-term uptrend’s boundary, has been shifted due to new margin requirements. Thus, consider long trades near this zone with the first target of 69.75 and the second one of 72.20.
If the price breaks through the support (B) today, the short-term uptrend will reverse. In this case, consider short trades with the target in the lower Target Zone 63.29 – 62.40.
USCrude trading ideas for today:
Buy at support (B) 67.74 – 67.30. TakeProfit: 69.75, 72.20. StopLoss: 66.30.
Gold forecast for today: XAUUSD analysis
Yesterday, gold failed to pierce the Gold Zone 2676 – 2671 and remained below the resistance. Therefore, a downward correction may start today. If the correction develops, the quotes will fall to the support (A) 2633 – 2627 or the support (B) 2606 – 2598. Once these areas are reached, consider long trades within the short-term uptrend with the main target at yesterday’s high.
XAUUSD trading ideas for today:
Buy at support (A) 2633 – 2627. TakeProfit: 2656, 2685. StopLoss: 2616.
Euro/Dollar forecast for today: EURUSD analysis
The euro has failed to break through the support (A) and has reached its first bullish target of 1.1167. The second target is the September 25 high. If the price consolidates above this high, the short-term uptrend may proceed to the target in the upper Target Zone 1.1279 – 1.1254.
If the asset breaches the support (A) today, the correction will continue to the trend’s boundary 1.1088 – 1.1075. Once this zone is reached, one may consider long trades.
EURUSD trading ideas for today:
Hold up long trades opened at support (A) 1.1130 – 1.1121. TakeProfit: 1.1214. StopLoss: at the breakeven.
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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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