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 has corrected to the support (A) 1.0441 – 1.0432 today.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has reversed its short-term uptrend.
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XAUUSD: gold is trading in a downward correction, likely targeting the support (A) 2728 – 2722.
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EURUSD: the euro has reached the strong support (A) 1.0441 – 1.0432.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil reversed its short-term uptrend and pierced the support (B) 74.85 – 74.40. Now, the main bearish target is the lower Target Zone 69.46 – 68.47.
The price is trading in an upward correction. If the correction continues today, the asset may test the resistance (A) 75.81 – 75.48. Once this zone is tested, consider short trades with the first target of 74.00 and the second one near yesterday’s low of 72.18.
USCrude Trading Ideas for Today:
Sell near resistance (A) 75.81 – 75.48. TakeProfit: 74.00, 72.18. StopLoss: 76.53.
Gold Forecast for Today: XAUUSD Analysis
Gold is developing a correction within the short-term uptrend, likely aiming to test the support (A) 2728 – 2722. Once this zone is tested, one may consider long trades with the first target of 2754 and the second one near 2785.
The price should break through the support (B) 2699 – 2691 to allow traders to open short positions and change the trend. In this case, the short-term uptrend will reverse, and the bearish target will be the lower Target Zone 2613 – 2596.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2728 – 2722. TakeProfit: 2754, 2785. StopLoss: 2711.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has corrected to the support (A) 1.0441 – 1.0432 today. Thus, consider long trades near this zone with the first target of 1.0482 and the second one near yesterday’s high of 1.0533. If the asset pierces the support (A), the correction will continue to the support (B) 1.0395 – 1.0381.
The price should break through and settle below the 1.0381 level to reverse the uptrend. In this case, one may consider short trades with the main target in the lower Target Zone 1.0257 – 1.0229.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0441 – 1.0432. TakeProfit: 1.0482, 1.0533. StopLoss: 1.0411.
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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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