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.
Last week the gold price tested the Intermediary Zone 1890-1888 but the price didn’t break out the zone.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
On Monday morning, the short-term oil uptrend continues. On Friday, the traders corrected the price to the Additional Zone 66.08 – 65.95. The price didn’t break out the zone, so look for purchases according to the pattern with the target at Friday’s high (level 67.34).
If the pattern is not found, and a breakout of the zone occurs instead, there will be an opportunity to start selling with the target in the Intermediary Zone 64.75 – 64.49.
The Intermediary Zone serves as the short-term uptrend’s border.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 66.08 – 65.95. TakeProfit: 67.34. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Last week the gold price tested the Intermediary Zone 1890-1888 but the price didn’t break out the zone. The IZ serves as the border of the short-term uptrend. It started a buy impulse, within which the resistance level of 1909 was tested. Thus, one can conclude that the priority buy pattern in the Intermediary Zone has already yielded profits. Further growth will depend on traders’ ability to break out level 1909 and consolidate the price above.
If level 1909 is broken out, then the next growth target will be the Gold Zone 1923 – 1921. If the level of 1909 is held, then a retest of the trend border will follow.
XAUUSD trading ideas for today:
Watch the market.
Euro/Dollar forecast for today: EURUSD analysis
On Friday last week, the short-term euro trend reversed down by breaking out the Intermediary Zone 1.2178 – 1.2169. However, at the US trading session, the traders managed to return the price to the opening level of the day: 1.2093.
At the moment, the traders are testing the resistance zone 1.2229 – 1.2169. It is profitable to look for sell signals and sell the euro in the beforementioned resistance zone with the target at the lower Target Zone 1.2090 – 1.2072.
For the euro purchases, the breakout of resistance level 1.2229 and the price consolidation above are required. In this case, the short-term trend will reverse up again, and the target for purchases will be the upper Target Zone 1.2326 – 1.2308.
EURUSD trading ideas for today:
Open sell positions according to the pattern in 1.2229 – 1.2169. TakeProfit: Target Zone 1.2090 – 1.2072. 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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