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 is trying to break through the lower Target Zone.
The article covers the following subjects:
Highlights and key points
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USCrude: oil has corrected to the resistance (B) 76.09 – 75.64. Consider short trades near this zone.
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XAUUSD: gold is rising within a short-term uptrend. The second bullish target is the September high near 2685.
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EURUSD: the euro is testing the Target Zone 1.0962 – 1.0936. If the price settles below this area, the quotes may fall to the Gold Zone 1.0878 – 1.0869.
Oil price forecast for today: USCrude analysis
Yesterday, oil corrected within the short-term downtrend and tested the trend’s boundary 76.09 – 75.64 but remained below this area. Therefore, consider short trades near this zone today with the first target of 73.62. If the asset consolidates below this level, the next bearish target will be 71.15.
The price should breach and settle above the resistance (B) 76.09 – 75.64 to allow traders to open long trades and reverse the trend. If so, consider long trades with the target in the upper Target Zone 81.04 – 80.14.
USCrude trading ideas for today:
Sell at resistance (B) 76.09 – 75.64. TakeProfit: 73.62, 71.15. StopLoss: 77.15.
Gold forecast for today: XAUUSD analysis
Yesterday, gold reached the support (B) 2603 – 2594 during a correction. However, the price remained above this area, and an upward impulse emerged. Thus, the asset has hit the first bullish target near 2640. The second bullish target is the September high near 2685.
The price should pierce and consolidate below the 2594 level to reverse the trend and create selling opportunities. In this case, the bearish target will be the lower Target Zone 2528 – 2512.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trying to break through the lower Target Zone 1.0962 – 1.0936. If the price settles below this area, the next bearish target within the short-term downtrend will be the Gold Zone 1.0878 – 1.0869. In case the asset breaches the Gold Zone, the price may drop to the Target Zone 2, 1.0794 – 1.0777.
Should the price remain in the Target Zone, an upward correction will start. If so, the asset may test the strong resistance (A) 1.1003 – 1.0996 and resistance (B) 1.1058 – 1.1044. Consider short trades near these zones with the main target near yesterday’s low.
EURUSD trading ideas for today:
Sell at resistance (A) 1.1003 – 1.0996. TakeProfit: 1.0952, 1.0900. StopLoss: 1.1025.
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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.