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 EURUSD is testing the key support.
The article covers the following subjects:
Highlights and key points
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USCrude: Oil is declining, and the price is testing the Target Zone. A correction may start with the target at the resistance (A) 78.14 – 77.84.
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XAUUSD: Gold reached its first bearish target of 2380, but the price remained above this zone. The asset will likely retest the resistance (A) 2400 – 2403.
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EURUSD: The euro is testing the uptrend’s key support 1.0822 – 1.0809. Consider long trades with the first target of 1.0878.
Oil price forecast for today: USCrude analysis
The oil price is falling and is about to break through the Target Zone 75.72 – 74.90. If the price consolidates below this zone, the next bearish target will be the Gold Zone 72.99 – 72.71.
Consider short trades during a correction at the strong resistance level (A) 78.14 – 77.84 and resistance (B) 79.77 – 79.32. The main bearish target will be today’s low.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 78.14 – 77.84. TakeProfit: 74.90. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 79.77 – 79.32. TakeProfit: 74.90. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in a correction within the short-term downtrend. After testing the resistance (A) 2400 – 2403, the price dropped and reached the first bearish target near 2380. However, the price did not fall further.
The price is rising again today. If the growth continues, the asset will reach above yesterday’s high. In this connection, the price may break through the resistance (A) and continue to trade in a correction with the target at the resistance (B) 2435 – 2428, the trend’s boundary. Consider short trades in this zone.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (B) 2435 – 2428. TakeProfit: 2355. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD is testing the key support 1.0822 – 1.0809 of the short-term uptrend. Consider long trades in this zone with the first target of 1.0878. The second bullish target will be the July 17 high of 1.0948.
An alternative scenario suggests that the price may breach and consolidate below the support (B). In this case, the short-term uptrend will reverse. The sales target will be the lower Target Zone of 1.0696 – 1.0670.
EURUSD trading ideas for today:
Buy according to the pattern at support (B) 1.0822 – 1.0809. TakeProfit: 1.0878, 1.0948. StopLoss: according to the pattern rules.
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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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