I welcome my fellow traders! I have made a price forecast for US Crude, 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.
As part of a short-term uptrend, the euro price reached the Target Zone 1.1379 – 1.1362 yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil downtrend continued yesterday. As a result, the Gold Zone 65.08 – 64.83 was reached. After reaching the GZ, large sales were closed and speculative buy trades were opened. As part of the correction, the price reached the trend key resistance 67.10 – 66.84.
Today the short-term trend reversed up as the Intermediary Zone 67.10 – 66.84 was broken out. Now the target for purchases is the upper Target Zone 69.90 – 69.39. At the bottom, the zone of good buy prices has been formed, which consists of a price range of 67.02 – 65.49. In this zone, I recommend looking for a pattern to enter a long trade and fixing the first part of the trade when the price breaks out the day’s high.
USCrude trading ideas for today:
Open buy positions according to the pattern in 67.02 – 65.49. TakeProfit: 68.24, Target Zone 69.90 – 69.39. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, the gold traders tested the key resistance of the short-term downtrend, level 1801. The price formed a sell signal together with the “false breakout of the previous local high” pattern. As a result, the level of 1782 was reached, as well as the lower Target Zone of 1778 – 1774. It was held by buyers. As a result, today there is a correction in the new key resistance zone 1790 – 1788. At the moment, the zone is being held, so I suggest considering a new sell pattern to update yesterday’s low.
If yesterday’s low is updated, then there is a high probability of the price consolidation below the Target Zone. In this case, the next sales target will be the Gold Zone 1759 – 1757.
An alternative scenario suggests a breakout of the Intermediary Zone, or rather the level of 1790, and price consolidation above. In this case, the target for purchases will be the upper Target Zone 1811 – 1807.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1790 – 1788. TakeProfit: 1771. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
As part of a short-term uptrend, the euro price reached the Target Zone 1.1379 – 1.1362 yesterday. After reaching the TZ, large purchases were closed and a correction began. As part of the correction, the traders tested the Intermediary Zone 1.1294 – 1.1286 and the support level of 1.1260. As a result, the zone formed by the IZ and the support level was held by buyers. The price returned to the key support.
Today, the short-term uptrend continues. The update of yesterday’s high serves as the growth target. Look for buy patterns today.
An alternative scenario for entering sales in the lower Target Zone 1.1206 – 1.1189 will work out only if the Intermediary Zone 1.1294 – 1.1286 is broken out.
EURUSD trading ideas for today:
Open buy positions according to the pattern in 1.1294 – 1.1260. TakeProfit: 1.1380. StopLoss: according to the pattern rules.
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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.