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.
Gold local high has been updated.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil broke out the Micro-zone 68.73 – 68.66 and reached the Additional Zone 68.05 – 67.91. The short-term trend remains up. Now watch the buyers’ reaction to the test of strong support. When a buy pattern is formed, it will be possible to buy oil with the target at level 69.76.
If the Additional Zone is broken out, the price will test the support level of 67.14. Breakout of level 67.14 will lead to the formation of a technical sell pattern.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 67.92 – 67.79. TakeProfit: 69.76. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, a trading recommendation to buy gold in the Additional Zone 1746 – 1745 worked out. Now the price is growing within a short-term uptrend and breaking out the Gold Zone 1755 – 1753. Price consolidation above the Gold Zone will lead to reaching the Target Zone 2 1780 – 1775 with a probability of 70%.
Today consider new purchases on correction at strong supports: Additional Zone 1748 – 1746 and Intermediary Zone 1736 – 1734. It will be necessary to rearrange the margin zones, when updating the local high.
XAUUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 1748 – 1746. TakeProfit: 1758. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 1736 – 1734. TakeProfit: 1758. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the reaction of euro sellers to the test of the Additional Zone 1.1754 – 1.1750 was seen. The price did not fall and did not break out the Target Zone 1.1732 – 1.1715, which indicates the temporary weakness of the bearish traders.
Now the euro price is again approaching the Additional Zone. If it is broken out, it will be possible to open a long trade with the target in the Intermediary Zone 1.1802 – 1.1794.
Otherwise, wait for the breakout of level 1.1728 down and enter sales on correction with a target at the August 11 low.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1.1754 – 1.1750. TakeProfit: 1.1708. StopLoss: according to the pattern rules.
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Buy when the Additional Zone 1.1754 – 1.1750 is broken out. TakeProfit: Intermediary Zone 1.1802 – 1.1794. StopLoss: 1.1730.
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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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