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 has reached all its bullish targets.
The article covers the following subjects:
Highlights and key points
- USCrude: oil is testing the short-term uptrend’s support (A) 75.45 – 75.12. Consider long trades in this zone.
-
XAUUSD: gold is trading within the short-term uptrend. If the price breaks through the Target Zone 2529 – 2514, the next target will be the Gold Zone 2569 – 2564.
-
EURUSD: the euro’s short-term uptrend continued today. As a result, the price has reached above the August 14 high. At the moment, all bullish targets have been hit.
Oil price forecast for today: USCrude analysis
Oil has reached the support (A) 75.45 – 75.12 while trading in a downward correction within the short-term uptrend. The asset tested this support last week, and bulls managed to hold the price above this area. Therefore, consider long trades near the support (A) with the first target of 76.94 and the second one of 78.75 today.
If oil breaks through the support (A) today, the correction will continue to the support (B) 73.80 – 73.30, the trend’s boundary. After testing this level, one may consider long trades according to the pattern.
USCrude price forecast for today:
- Buy according to the pattern at support (А) 75.45 – 75.12. TakeProfit: 76.94, 78.75. StopLoss: according to the pattern rules.
-
Buy according to the pattern at support (B) 73.80 – 73.30. TakeProfit: 78.75. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues to grow within the short-term uptrend. Last week, the price approached the Target Zone 2529 – 2514. If the asset breaches the Target Zone this week, the growth will continue to the target in the Gold Zone 2569 – 2564.
If the downward correction starts approximately at the current level, quotes may fall to the strong support (A) 2459 – 2454 and support (B) 2434 – 2427. Consider long trades at these supports with the main target of 2508.
XAUUSD trading ideas for today:
- Buy according to the pattern at support (А) 2459 – 2454. TakeProfit: 2508. StopLoss: according to the pattern rules.
-
Buy according to the pattern at support (B) 2434 – 2427. TakeProfit: 2508. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro continued its short-term uptrend today. As a result, the price has reached above the August 14 high, and positions opened at the support (A) 1.0963 – 1.0955 have brought profits. Currently, the euro is testing the Target Zone 1.1054 – 1.1029. If the price breaks through the Target Zone, the next bullish target will be the Gold Zone 1.1121 – 1.1113.
Consider long trades when the correction ends. During the correction, the price may test new strong supports (A) 1.0966 – 1.0957 and support (B) 1.0924 – 1.0911. Once the asset tests these supports and a reversal bullish pattern emerges, one may consider long trades.
EURUSD trading ideas for today:
- Buy according to the pattern at support (А) 1.0966 – 1.0957. TakeProfit: 1.1050. StopLoss: according to the pattern rules.
-
Buy according to the pattern at support (В) 1.0924 – 1.0911. TakeProfit: 1.1050. StopLoss: according to the pattern rules.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.