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 is trying to bounce off the support (A) 1.0441 – 1.0432.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is maintaining a downtrend.
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XAUUSD: gold is trying to break through the upper Target Zone of 2773 – 2756 again.
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EURUSD: the euro is trading near the support (A) 1.0441 – 1.0432.
Oil Price Forecast for Today: USCrude Analysis
Oil is trying to correct upwards after the recent drop. The short-term trend remains downward. If the correction continues, the price may climb to the resistance (A) 75.81 – 75.48. Once this zone is reached, consider short trades with the first target of 74.00 and the second one near 72.18.
If the asset falls below the January 27 low today, the support zones should be shifted.
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 continues to trade in a short-term uptrend. Yesterday, the price once again reached the Target Zone 2773 – 2756 but failed to pierce it. Thus, the further growth is in question. However, a downward correction may create opportunities for opening trades.
If the downward correction starts, the quotes may slump to the support (A) 2728 – 2722. Once this strong support is reached, one may consider long trades with the first target of 2754 and the second one near 2785.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2728 – 2722. TakeProfit: 2754, 2785. StopLoss: 2711.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trying to bounce off the support (A) 1.0441 – 1.0432. If so, the short-term uptrend may continue with the first target of 1.0482 and the second one near 1.0533.
If the price breaks through the support (A) today, the correction will continue to the trend boundary 1.0395 – 1.0381. Once the asset reaches this zone, one may consider long trades with the main target near the January 27 high.
The price should break through the 1.0381 level to allow traders to open short trades and reverse the trend. In this case, consider short trades with the target in the lower Target Zone 1.0257 – 1.0229, starting from tomorrow.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (A) 1.0441 – 1.0432. TakeProfit: 1.0482, 1.0533. StopLoss: 1.0411.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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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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