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.
Yesterday gold closed trades with a very strong fall.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday oil price went into correction and tried to reach the Intermediary Zone 77.42 – 77.17. The buyers failed to reach the IZ the first time. As a result, the price rolled back and is now testing the Additional Zone 75.73 – 75.60. The AZ serves as a strong support for today, so I suggest looking for new oil purchases in it with a target in the IZ.
If the Additional Zone is broken out and the price consolidates below, then the short-term downtrend will continue, and yesterday’s low will be updated. The next target after the updating of the low will be the Target Zone 2 73.38 – 72.87.
USCrude trading ideas for today:
Buy in Additional Zone 75.73 – 75.60. TakeProfit: Intermediary Zone 77.42 – 77.17. StopLoss: 75.14.
Gold price forecast for today: XAUUSD analysis
Yesterday gold closed trades with a very strong fall, which resulted in reaching the Gold Zone 1820 – 1819 and the Target Zone 2 1802 – 1798. Today, the short-term downtrend continues. The Additional Zone 1812 – 1811 was tested during the Asian session. The AZ serves as a strong resistance, from which the price is now falling. The target of the fall is to update yesterday’s low.
If the Target Zone 2 is broken out during the trading session, then the next target will be the Gold Zone 2 1783 – 1781. If the price grows and consolidates above the level of 1812, then the gold will go into correction with the target in the Intermediary Zone 1822 – 1821.
XAUUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1812 – 1811. TakeProfit: 1802. StopLoss: according to the pattern rules.
Buy when the Additional Zone 1812 – 1811 is broken out. TakeProfit: Intermediary Zone 1822 – 1821. StopLoss: 1808.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the short-term euro trend reversed down. The Intermediary Zone 1.1286 – 1.1277 was broken out. Now the lower Target Zone 1.1198 – 1.1180 serves as a target for sales. It is reasonable to consider new euro sales on correction at strong resistance levels, the Additional Zone 1.1274 – 1.1270 and the Intermediary Zone 1.1322 – 1.1314. The latter also serves as the border of a short-term downtrend.
It is necessary to break out at least one of the strong resistance levels indicated above to enter euro purchases. In this case, the price will move to the next highest margin zone.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1274 – 1.1270. TakeProfit: 1.1227. 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 LiteForex. 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.