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 maintains a correction.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil broke through the resistance (A) 75.74 – 75.44 and reached the resistance (B) 77.39 – 76.94. The resistance (B) offers the boundary of the short-term downtrend. Hence, short trades can be considered according to the pattern with the first target at 74.92.
If oil breaches the resistance (B) and closes above this level in the US trading session, the short-term downtrend will reverse. In this case, consider long trades with the target within the upper Target Zone, 82.34 – 81.44, starting from the next trading day.
USCrude trading ideas for today:
Sell according to the pattern at resistance (B) 77.39 – 76.94. TakeProfit: 74.92, 72.50. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold maintains a correction within the short-term downtrend. The possible correction target is resistance (A) 2341 – 2336. Once this area is tested, consider short trades with the first target at 2314 and the second target at 2287.
If the short-term downtrend continues today, the price will likely pierce the Target Zone 2300 – 2285. In this case, the next bearish target will be located within the Gold Zone 2250 – 2245.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 2341 – 2336. TakeProfit: 2314, 2287. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: 2314, 2287. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
After a sharp decline, the euro has maintained an upward correction over the last two days. As part of the correction, the price approached the resistance 1.0778 – 1.0774. From this zone, consider short trades with targets at 1.0755 and 1.0732.
If the pair breaches the resistance 1.0778 – 1.0774 from below, the correction will continue to resistance (A) 1.0825 – 1.0816, a strong level from which it is also favorable to consider selling the euro with the main target of 1.0732.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance 1.0778 – 1.0774. TakeProfit: 1.0755, 1.0732. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (A) 1.0825 – 1.0816. TakeProfit: 1.0732. StopLoss: according to the pattern rules.
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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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