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 oil upward correction continues. Yesterday, as part of this correction, the Intermediary Zone 68.02 – 67.75 was tested.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil upward correction continues. Yesterday, as part of this correction, the Intermediary Zone 68.02 – 67.75 was tested. It cannot yet be said that the zone has been broken out, so keep looking for sales according to the pattern. The sales target will be the August 9 low.
To enter oil purchases, it is required to break out level 69.76 or form a new uptrend consisting of at least two highs and two lows, each of which is higher than the previous one.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 68.02 – 67.75. TakeProfit: 65.30. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, the gold price didn’t break out the Intermediary Zone 1730 – 1727, despite the update of the August 9 local low. This means that the short-term uptrend continues with the target in the Gold Zone 1755 – 1753.
The chart shows that a false breakout of level 1724 has formed. It serves as a signal to enter long trades. Today consider gold purchases from the Intermediary Zone with a stop beyond yesterday’s low.
The breakout of level 1724 and price consolidation below are required to enter gold sales.
XAUUSD trading ideas for today:
Buy in Intermediary Zone 1730 – 1727. TakeProfit: Gold Zone 1755 – 1753. StopLoss: 1717.
Euro/Dollar forecast for today: EURUSD analysis
The euro is testing the Target Zone 1.1732 – 1.1715 and is trying to break it out. If successful, the next target of the downtrend will be the Gold Zone 1.1644 – 1.1635.
The task of traders using the margin zones’ methodology in trading is to look for euro sales on correction at strong resistance levels. The Additional Zone 1.1758 – 1.1754 and the Intermediary Zone 1.1806 – 1.1798 are strong resistances. Focus on today’s low as a target.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1.1758 – 1.1754. TakeProfit: 1.1711. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1.1806 – 1.1798. TakeProfit: 1.1711. StopLoss: according to the pattern rules.
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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 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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