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.
The euro continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is maintaining a short-term downtrend with the main target of 66.51.
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XAUUSD: gold is trying to break through the key support 2634 – 2626.
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EURUSD: the euro is trading in a downward correction within the short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend. The decline may continue this week with the target in the Gold Zone 65.93 – 65.63. Therefore, consider short trades or hold those, initiated at the resistance (B) 70.85 – 70.45, open.
A breakout above 70.85 will signal a potential trend reversal and open buying opportunities. In this case, the bullish target will be the upper Target Zone 75.19 – 74.40.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (B) 70.85 – 70.45. TakeProfit: 66.51. StopLoss: 69.57.
Gold Forecast for Today: XAUUSD Analysis
Gold is declining. The price is trying to pierce the support (B) 2634 – 2626. If the asset settles below this zone, the short-term uptrend will reverse. In this case, consider short trades with the target in the lower Target Zone 2548 – 2531, starting from tomorrow.
If bulls manage to prevent the price from falling below the support (B) today, one may consider long trades with the first target of 2673 and the second one near 2721 once a confirming pattern emerges.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is correcting downward within the short-term uptrend after last week’s growth. The potential target within the correction is the support (A) 1.0505 – 1.0496. Once this zone is tested, consider long trades with the first target of 1.0546 and the second one near 1.0597. If the price breaches the 1.0597 level today, the asset may reach the upper Target Zone 1.0636 – 1.0608. If the quotes pierce the upper Target Zone, the asset may grow to the Gold Zone 1.0709 – 1.0700.
The price should break through and consolidate below the key support 1.0459 – 1.0445 to allow traders to open short trades and reverse the trend.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0505 – 1.0496. TakeProfit: 1.0546, 1.0597. StopLoss: 1.0478.
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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.