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.
Yesterday, the short-term oil trend reversed up by breaking out the key resistance 64.43 – 64.16.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, the short-term oil trend reversed up by breaking out the key resistance 64.43 – 64.16. Now traders’ target is to test the upper Target Zone 67.34 – 66.81.
It is reasonable to look for oil purchases on the correction in the zone of 64.92 – 63.33. It is most profitable to wait for a pattern to appear in the beforementioned zone and enter a long trade with the first target at today’s high.
It is too early to talk about sales. To open short trades, it is necessary to reverse the trend down again by breaking out the level of 63.33.
USCrude trading ideas for today:
Open buy positions according to the pattern in 64.92 – 63.33. TakeProfit: 66.11, Target Zone 67.34 – 66.81. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The short-term gold uptrend continues. Yesterday, the price consolidated above the Gold Zone 1878.5 – 1876.2 at the US trading session. The next growth target is Target Zone 2 1903 – 1898.
Now the gold price is correcting and testing the support zone 1878 – 1872. It is profitable to consider purchases in the beforementioned support zone with the first target at level 1888.
The trend border is at the level of 1863. If the bears manage to break it out, the short-term trend will reverse down, and the target for sales will be the lower Target Zone 1844 – 1839.
XAUUSD trading ideas for today:
Open buy positions according to the pattern in 1878 – 1872. TakeProfit: 1888, Target Zone 2 1903 – 1898. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the short-term euro uptrend continued, and the price tested the Target Zone 1.2245 – 1.2227. Now, traders are preparing to break out the resistance level of 1.2239. If successful, the next target will be Gold Zone 1.2324 – 1.2315.
To sell the euro, a trend reversal down is required. To do this the traders need to break out the Intermediary Zone 1.2157 – 1.2148 and consolidate the price below.
EURUSD trading ideas for today:
Watch the market.
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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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