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 growing after hitting the short-term uptrend’s key support 67.74 – 67.30.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is rising after hitting the support (B) 67.74 – 67.30. The bullish target is 69.75.
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XAUUSD: gold is trading in a correction with the target at the support (A) 2633 – 2627.
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EURUSD: the euro is trying to continue to increase after touching the support (A) 1.1130 – 1.1121.
Oil price forecast for today: USCrude analysis
Oil is climbing after reaching the short-term uptrend’s key support 67.74 – 67.30. The first bullish target is 69.75, and the second one is the September 24 high near 72.20. Therefore, consider holding long trades today until the price hits the indicated targets.
If the asset exceeds the September 24 high today, the growth may continue to the Target Zone 74.59 – 73.70. If the price pierces the key support, the short-term uptrend will reverse. In this case, consider short trades with the target near the lower Target Zone 63.29 – 62.40.
USCrude trading ideas for today:
Hold up long trades opened at support (B) 67.74 – 67.30. TakeProfit: 69.75, 72.20. StopLoss: 66.30.
Gold forecast for today: XAUUSD analysis
Gold is likely correcting to the support (A) 2633 – 2627. Once this zone is tested, consider long trades with the first target near 2656 and the second one at the September 26 high of 2685.
If the price reaches above the September 26 high today, the next bullish target will be the Target Zone 3, 2734 – 2724. If the asset breaches the support (A), the correction will continue to the support (B) 2606 – 2598, the short-term uptrend’s boundary. Thus, consider long trades near this zone.
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 is trading in a short-term uptrend. Last week, the price tested the support (A) 1.1130 – 1.1121 but remained above this zone. After that, the asset has hit the first bullish target of 1.1167. The second target is the September 25 high near 1.1214.
Today, consider holding long trades at the support (A) until the price reaches the second target. If the euro exceeds and consolidates above the September 25 high, the next bullish target will be the upper Target Zone 1.1279 – 1.1254. If the asset breaks through the support (A) today, the correction will continue to the support (B) 1.1088 – 1.1075, the short-term uptrend’s boundary. Therefore, consider long trades near this zone.
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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