I welcome my fellow traders! I have made a price forecast for US Crude, 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 trading within a short-term downtrend, the target of which is the Target Zone 1.2090 – 1.2072.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
After the test of the Additional Zone 68.51 – 68.38, a new upward impulse was formed, which was used by the traders to break out the Gold Zone 69.73 – 69.46 and consolidate the price above. The next growth target is the Target Zone 2 72.64 – 72.11.
It is profitable to consider new oil purchases on correction according to the pattern in:
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Micro-zone 69.81 – 69.74
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Additional Zone 69.14 – 69.01
The technical border of the uptrend is at level 68.43. The target for purchases will be today’s high.
USCrude trading ideas for today:
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Buy according to the pattern in Micro-zone 69.81 – 69.74. TakeProfit: 70.45. StopLoss: according to the pattern rules.
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Buy according to the pattern in Additional Zone 69.14 – 69.01. TakeProfit: 70.45. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
After the test of the Target Zone 1905 – 1901, the gold price went into correction. Yesterday, XAU price tested the Additional Zone 1892 – 1890, in which I recommended buying the precious metal with a target at level 1903. The trading idea to buy yielded profits. Immediately after the update of the high, a new correction was formed, within which a new Additional Zone 1892.4 – 1891.3 had already been broken out.
At the moment, the correction continues to develop. The target of the price fall is the Intermediary Zone 1881 – 1878. It would be reasonable to sell the precious metal in the zone of 1896 – 1891.
XAUUSD trading ideas for today:
Sell from the zone of 1896 – 1891. TakeProfit: Intermediary Zone 1881 – 1878. StopLoss: 1898.8.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trading within a short-term downtrend, the target of which is the Target Zone 1.2090 – 1.2072. Yesterday, the traders again tried to break out the Intermediary Zone 1.2200 – 1.2192, but unsuccessful. Therefore, today, keep looking for a sell pattern.
One of the possible variants of the pattern could be a “double top”. So, the traders need to repeat the June 7 high and then break out the support 1.2171. However, any model of technical analysis for selling is suitable for entering a trade.
It will be possible to buy the euro after the trend reversal up. This requires the Intermediary Zone breakout and price consolidation at the US session higher.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1.2200 – 1.2192. TakeProfit: Target Zone 1.2090 – 1.2072. StopLoss: according to the pattern.
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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
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- Telegram chat for traders: https://t.me/liteforexengchat. 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/liteforex
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 LiteForex. 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.
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