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.
A short-term oil uptrend continued yesterday, as a result, the upper Target Zone 72.52 – 71.94 was broken out.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
A short-term oil uptrend continued yesterday, as a result, the upper Target Zone 72.52 – 71.94 was broken out. Now the target for purchases is the Gold Zone 75.16 – 74.86. I recommend considering new purchases on correction at strong support levels: Additional Zone 71.67 – 71.52 and Intermediary Zone 70.20 – 69.91. Look for a buy pattern at these levels and open a long trade with the first target at today’s high.
In order to enter oil sales, traders need to consolidate the price below the trend key support, namely the level of 69.91. If this happens, consider oil sales with the target in the lower Target Zone 67.28 – 66.69.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 71.67 – 71.52. TakeProfit: 73.00. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone 70.20 – 69.91. TakeProfit: 73.00. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold has corrected in the zone of the short-term downtrend’s key resistance 1805 – 1803. Resistance is still holding, so look for short trades with a target at the December 21 low. A reversal pattern is required to open trades, for example, a “false breakout”. The second target for sales is the lower Target Zone 1776 – 1773.
Traders need to consolidate the price above level 1805 at the US trading session to enter gold purchases. In this case, the short-term trend will reverse up. Therefore, consider purchases with a target in the upper Target Zone 1868 – 1822.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1805 – 1803. TakeProfit: 1788. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro corrected to the upper border of the flat. At the moment, the traders are trying to consolidate the price above the Intermediary Zone 1.1331 – 1.1322. The IZ and the upper border of the flat 1.1350 represent a single zone, in which it is necessary to look for a short trade and sell the instrument with a target at level 1.1240.
Buy the euro when the price breaks out level 1.1350 and consolidates higher. In this case, the short-term trend will reverse up, and the target for purchases will be the upper Target Zone 1.1428 – 1.1410.
EURUSD trading ideas for today:
Open sell positions according to the pattern in 1.1350 – 1.1322. TakeProfit: 1.1240. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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.