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 continued to correct yesterday.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is correcting upward. The correction’s target is the resistance (A) 70.19 – 69.86.
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XAUUSD: gold is trading under the resistance 2789 – 2784.
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EURUSD: the euro is trading in an upward correction and is approaching the resistance (A) 1.0884 – 1.0873.
Oil price forecast for today: USCrude analysis
Oil has started a correction with the target at the resistance (A) 70.19 – 69.86. Once this area is reached, consider short trades with the first target of 68.37 and the second one of 70.86.
If the price breaks through the resistance (A) today, the correction will continue to the resistance (B) 72.01 – 71.51.
USCrude trading ideas for today:
Sell at resistance (A) 70.19 – 69.86. TakeProfit: 68.37, 66.56. StopLoss: 70.86.
Gold forecast for today: XAUUSD analysis
Yesterday, gold hit the Gold Zone 2789 – 2784 but failed to pierce it. Today, the price is correcting downward. If the correction persists, the quotes may fall to the support (A) 2735 – 2729. Consider long trades near this zone with the main target at today’s high.
If the asset breaches the support (A), the price will correct to the trend’s boundary 2707 – 2699.
XAUUSD trading ideas for today:
Buy at support (A) 2735 – 2729. TakeProfit: 2759, 2789. StopLoss: 2718.
Euro/Dollar forecast for today: EURUSD analysis
The euro continued its correction yesterday. As a result, the price has approached the resistance (A) 1.0884 – 1.0873. If the asset tests this zone, consider short trades with the first target of 1.0822 and the second one of 1.0761.
If the price breaks through the resistance (A) today, the correction will extend to the resistance (B) 1.0946 – 1.0929.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0884 – 1.0873. TakeProfit: 1.0822, 1.0761. StopLoss: 1.09046.
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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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