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.
Oil continued to trade in a short-term downtrend yesterday.
The article covers the following subjects:
Highlights and key points
-
USCrude: yesterday, oil fell below the October 28 low within the short-term downtrend.
-
XAUUSD: gold has reached another resistance near 2789 – 2784.
-
EURUSD: the euro is trading slightly above the Target Zone 1.0794 – 1.0777, preparing to continue its upward correction.
Oil price forecast for today: USCrude analysis
Yesterday, oil continued to trade in a short-term downtrend. As a result, the price has breached the Target Zone 68.92 – 68.02 and slumped below the October 28 low. The next bearish target is the Gold Zone 65.93 – 65.63. Currently, the price is correcting upward. The potential correction’s target is the resistance (A) 70.19 – 69.86. Once this zone is reached, short trades can be considered with the first target of 68.37.
USCrude trading ideas for today:
Sell at resistance (A) 70.19 – 69.86. TakeProfit: 68.37, 66.56. StopLoss: 70.86.
Gold forecast for today: XAUUSD analysis
Gold has hit the Gold Zone 2789 – 2784 within a short-term uptrend. If the price pierces this zone from below, the growth will continue with the target in the Target Zone 2850 – 2839. Consider long trades on a correction at the strong support (A) 2734 – 2729 and support (B) 2707 – 2699 with the main bullish target at today’s high.
XAUUSD trading ideas for today:
Buy at support (A) 2734 – 2729. TakeProfit: 2759, 2789. StopLoss: 2718.
Euro/Dollar forecast for today: EURUSD analysis
The euro is maintaining its short-term downtrend. The price is testing the Target Zone 1.0794 – 1.0777. Since the asset has failed to break through this zone, an upward correction may start with the targets at the resistance (A) 1.0884 – 1.0873 and resistance (B) 1.0946 – 1.0929. Once these zones are reached, one may consider short trades, taking profit at the October 23 low near 1.0761.
EURUSD trading ideas for today:
Sell at resistance (A) 1.0884 – 1.0873. TakeProfit: 1.0822, 1.0761. StopLoss: 1.09046.
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 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.