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 trades yielded profits in the Additional Zone 1771 – 1770 which serves as a strong support.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil broke out the Intermediary Zone 66.69 – 66.42. The short-term trend reversed down. Now the lower Target Zone 63.96 – 63.42 serves as the target for sales.
Now oil is trading in correction. After yesterday’s breakout of the Additional Zone 67.01 – 66.88, it can be assumed that the correction will reach the trend key resistance 68.51 – 68.24.
Today it is possible to look for purchases from the zone of 66.89 – 66.07 with the target at level 68.24, as well as enter sales if level 66.07 is broken out. The zone of 63.96 – 63.42 will serve as the target for sales.
USCrude trading ideas for today:
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Open buy positions according to the pattern in 66.89 – 66.07. TakeProfit: 68.51 – 68.24. StopLoss: according to the pattern rules.
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Sell when the Additional Zone 66.21 – 66.07 is broken out. TakeProfit: Target Zone 63.96 – 63.42. StopLoss: beyond the next local high.
Gold price forecast for today: XAUUSD analysis
Gold trades yielded profits in the Additional Zone 1771 – 1770 which serves as a strong support. As a result, the short-term trend continued, and buyers closed the position with a Take Profit. Target Zone 2 1780 – 1775 has also been broken out, indicating the most probable continuation of the trend with a target in the Gold Zone 2 1800 – 1798.
I suggest looking for new purchases on correction at strong supports: Additional Zone 1781 – 1780 and Intermediary Zone 1770 – 1768. The latter serves as the border of a short-term uptrend. The local high of the day can be considered as the first target.
XAUUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 1781 – 1780. TakeProfit: 1791.7. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 1770 – 1768. TakeProfit: 1791.7. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD traders have tested the Additional Zone 1.1760 – 1.1756, following the correction down in the intraday uptrend. Buyers should consider an opportunity to enter purchases at good prices with the target at the high of August 13. To enter a trade, there should be a signal according to your trading strategy.
If the price breaks out the Additional Zone 1.1760 – 1.1756, one could consider entering sell trades with a target at 1.1709.
EURUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1.1760 – 1.1756. TakeProfit: 1.1802. StopLoss: according to the 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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