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 continues to strengthen.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trading near the support (B) 74.85 – 74.40.
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XAUUSD: gold is testing the Target Zone 2773 – 2756.
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EURUSD: the euro is trying to exceed the January 22 high within a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is testing the short-term uptrend’s key support 74.85 – 74.40. Consider long trades near this zone. The price should breach the 74.85 level to form a bullish pattern. The first bullish target will be 76.88, and the second one will be 79.36.
If the asset settles below the support (B) 74.85 – 74.40 at the end of today’s US session, the uptrend will reverse. In this case, one may consider short trades with the main target in the lower Target Zone 69.46 – 68.47, starting from Monday.
USCrude Trading Ideas for Today:
Buy near support (B) 74.85 – 74.40. TakeProfit: 76.88, 79.36. StopLoss: 73.54.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to strengthen within the short-term uptrend. The quotes are testing the Target Zone 2773 – 2756. If the price breaks through this zone, the next target will be the Gold Zone 2819 – 2813.
If the asset fails to pierce the Target Zone, a correction to the support (A) 2719 – 2714 may start. Consider long trades near this zone with the main target at this week’s high.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2719 – 2714. TakeProfit: 2745, 2777. StopLoss: 2702.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is growing and approaching the January 22 high. If the quotes consolidate above this mark, the asset will try to break through the Target Zone 1.0481 – 1.0453. If so, the euro will continue to climb to the Gold Zone 1.0554 – 1.0545.
Consider long trades at the support (A) 1.0365 – 1.0356 and support (B) 1.0319 – 1.0305. The main bullishg target will be the January 22 high.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0365 – 1.0356. TakeProfit: 1.0406, 1.0457. StopLoss: 1.0339.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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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.
