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.
Gold has broken through the short-term downtrend’s boundary 2678 – 2670.
The article covers the following subjects:
Major Takeaways
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USCrude: oil continued to grow, hitting the Gold Zone 77.21 – 76.95.
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XAUUSD: gold is trying to settle above the resistance (B) 2678 – 2670.
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EURUSD: the euro’s short-term uptrend has reversed.
Oil Price Forecast for Today: USCrude Analysis
Oil continued to trade in an uptrend right after the trading session opening. As a result, the price has exceeded the Friday high and is retesting the Gold Zone 77.21 – 76.95 now. If the asset pierces this zone, the short-term growth may continue to the Target Zone 2, 80.95 – 80.35.
If the price remains below the Gold Zone, a correction may unfold. If so, the bearish targets will be the support (A) 74.43 – 74.13 and support (B) 72.92 – 72.47. Consider long trades near these zones with the main target at today’s high.
EURUSD Trading Ideas for Today:
Buy at support (A) 74.43 – 74.13. TakeProfit: 75.79, 77.43. StopLoss: 73.53.
Gold Forecast for Today: XAUUSD Analysis
On Friday, gold broke through the short-term downtrend’s boundary 2678 – 2670 amid the news on the US labor market. Today, the asset is trying to settle above this area. If the price closes above the 2678 level in the US trading session, the short-term downtrend will reverse. In this case, one may consider long trades with the target near the upper Target Zone 2773 – 2756, starting from tomorrow.
If the price returns below the 2670 level today, a sell pattern may form. In this case, consider short trades with the first target of 2631 and the second one near 2583.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
On Friday, the euro pierced and consolidated below the short-term uptrend’s key support 1.0298 – 1.0285. Hence, the uptrend has reversed. Thus, consider short trades on a correction this week.
If a correction develops, the price may climb to the resistance (A) 1.0308 – 1.0299 or resistance (B) 1.0359 – 1.0345. Once these zones are tested, consider short trades with the main target at today’s low.
EURUSD Trading Ideas for Today:
Sell at resistance (A) 1.0308 – 1.0299. TakeProfit: 1.0258, 1.0207. StopLoss: 1.0327.
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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 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.
