Hello, my fellow traders! Here’s my forecast for such assets as US Crude, XAUUSD, and EURUSD that I made using margin zones and classical technical analysis. Based on this analysis, I made a list of entry signals for intraday traders.
Gold traders exploited the idea of going long from the Intermediary zone.
The article covers the following subjects:
Oil Forecast for today: USCrude analysis
There was a bullish reversal in a short-term downtrend. The price broke through the Intermediary zone 68.02 – 67.75 yesterday and settled above. Growth targets are now resistance at 69.76 and Target zone 71.02 – 70.47.
Consider going long from strong support levels, such as Micro-zone 68.60 – 68.53 and Additional zone 67.92 – 67.79.
For us to sell oil, the price must break through the level of 67.14 and consolidate below. In that case, the trend will turn down again.
Trading plan for USCrude for today:
- Buy according to the pattern from Micro-Zone 68.60 – 68.53. TakeProfit: 69.76. StopLoss: According to pattern rules
- Buy according to the pattern from Additional Zone 67.92 – 67.79. TakeProfit: 69.76. StopLoss: According to pattern rules
Gold forecast for today: XAUUSD analysis
Gold traders exploited the idea of going long from the Intermediary zone 1730 – 1727. Take Profit was triggered in the Gold zone 1755 – 1753. Next, the short-term uptrend’s future will depend on whether or not the buyers are able to consolidate above 1755. If they are, the next growth target will be Target zone 2, 1780 – 1775.
If the Gold zone isn’t broken today, there may develop a correction with the first target in the Additional zone 1744 – 1743.
Trading plan for XAUUSD for today:
- Buy according to the pattern from Additional Zone 1744 – 1743. TakeProfit: Gold zone 1755 – 1753. StopLoss: According to pattern rules
- Buy according to the pattern from Intermediary Zone 1733 – 1731. TakeProfit: Gold zone 1755 – 1753. StopLoss: According to pattern rules
Today’s forecast for the EURUSD: EURUSD analysis
Euro traders reached a powerful resistance level on yesterday’s correction — Additional zone 1.1754 – 1.1750. The zone wasn’t broken, and the pair is now trading below resistance. So, today’s priority scenario will be going short from those levels. The selling target will be an update of yesterday’s low, after which Target zone 1.1732 – 1.1715 might be broken. That will mean the euro continues dropping in the short term, the target being located in the Gold zone 1.1644 – 1.1635.
Alternative scenario: breakout of Additional zone and consolidation above. In that case, the price is highly likely to reach Additional zone 1.1802 – 1.1794.
Trading plan for EURUSD for today:
Sell according to the pattern from Additional Zone 1.1754 – 1.1750. TakeProfit: 1.1708. StopLoss: According to pattern rules
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Price chart of XAUUSD 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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