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 the Target Zone 2.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is testing the resistance (A) 71.45 – 71.15 within a short-term downtrend.
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XAUUSD: gold is trying to consolidate above the Target Zone 2740 – 2729 within a short-term uptrend.
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EURUSD: the euro continues its short-term downtrend. The price has reached the Target Zone 2, 1.0794 – 1.0777.
Oil price forecast for today: USCrude analysis
Oil has corrected to the resistance (A) 71.45 – 71.15 within a short-term downtrend but failed to consolidate above it. Thus, short trades can be considered near this zone with the first target of 69.79 and the second one of 68.13.
If the price pierces the resistance (A) from below today, the correction will continue to the resistance (B) 73.11 – 72.66, the trend’s boundary.
USCrude trading ideas for today:
Hold up sales opened at resistance (A) 71.45 – 71.15. TakeProfit: 69.79, 68.13. StopLoss: 72.10.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in a short-term uptrend. If the price settles above the Target Zone 2740 – 2729 today, the next bullish target will be the Gold Zone 2789 – 2784. Consider long trades on a correction at the support (A) 2698 – 2692 and support (B) 2670 – 2662. Today’s high will be the main bullish target.
XAUUSD trading ideas for today:
Buy at support (A) 2698 – 2692. TakeProfit: 2723, 2753. StopLoss: 2681.
Euro/Dollar forecast for today: EURUSD analysis
The euro has reached the Target Zone 2, 1.0794 – 1.0777, but has not broken through it. Therefore, further decline is unlikely. If bulls manage to keep the price above the Target Zone 2, a correction will start.
If the correction develops, the quotes may grow to the resistance (A) 1.0915 – 1.0904 or resistance (B) 1.0977 – 1.0960. Consider short trades near these zones with the main target at today’s low. The resistance (B) is the trend’s boundary.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0915 – 1.0904. TakeProfit: 1.0853, 1.0792. StopLoss: 1.0935.
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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.