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.
Gold has reached all of its bearish targets within a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil price corrected to the resistance area (A) 75.74 – 75.44 within the short-term bearish trend. Bears have managed to keep the price below this zone. In this context, consider selling the instrument with a first target at 74.10 and a second target at 72.50.
If oil price breaks through resistance (A) today, the correction will continue to resistance (B) at 77.39 – 76.94. This area is a trend boundary. Short trades can also be considered there.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 75.74 – 75.44. TakeProfit: 74.10, 72.50. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 77.39 – 76.94. TakeProfit: 74.10, 72.50. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Last week on Friday, gold dropped from the area near the resistance (B) 2397 – 2389. According to trading recommendations, the price hit all bearish targets. In addition, the price reached the Target Zone 2300 – 2285 on downward momentum.
Meanwhile, gold may start a correction after such a strong decline. In this case, the price will likely reach the resistance area (A) 2341 – 2336 and create selling opportunities according to new bearish patterns. The trend boundary is shifting to the area of 2369 – 2361, in which short trades can also be considered. The main bearish target will be located within the Target Zone.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 2341 – 2336. TakeProfit: Целевая зона 2300 – 2285. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: Целевая зона 2300 – 2285. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro fell after the US labor market data was released last Friday. As a result, the pair has broken through the support (B) 1.0790 – 1.0777 today. If the price closes below the support (B) during the US trading session, the short-term uptrend will likely reverse. In this case, short trades can be considered starting tomorrow. The lower Target Zone 1.0664 – 1.0638 will become the bearish target.
If the price returns to the support (B) 1.0790 – 1.0777 today, long trades on the euro will remain a priority with the targets at 1.0847 and 1.0915.
EURUSD trading ideas for today:
Watch the market.
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Price chart of XAUUSD 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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