I welcome my fellow traders! I have made a price forecast for the USCrude, 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.
The euro has reached the first bullish target of 1.0939.
The article covers the following subjects:
Highlights and key points
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USCrude: oil is growing to the target in the Target Zone 79.70 – 78.92. If the price consolidates above this area, the next target will be the Gold Zone 82.55 – 82.22.
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XAUUSD: gold’s short-term downtrend reversed. Now, the main bullish target is the upper Target Zone 2529 – 2514.
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EURUSD: the euro reached the first bullish target near 1.0939. If the price consolidates above this level, the growth will continue to the target of 1.1008.
Oil price forecast for today: USCrude analysis
Yesterday, oil‘s short-term downtrend reversed. The price broke through the resistance (B) 76.03 – 75.58. Now, the bullish target is the Target Zone 79.70 – 78.92. Consider long trades on a correction at the support (A) 75.45 – 75.12 and support (B) 73.80 – 73.30.
If the price continues to grow and breaches the Target Zone today, the next bullish target will be the Gold Zone 82.55 – 82.22.
Oil price forecast for today:
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Buy according to the pattern at support (A) 75.45 – 75.12. TakeProfit: 78.63. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 73.80 – 73.30. TakeProfit: 78.63. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Yesterday, gold continued to rise, and the short-term downtrend reversed. Consider long trades with the target at the upper Target Zone 2529 – 2514 on a correction at the support (A) 2426 – 2421 and support (B) 2401 – 2394 once the price tests these zones and a bullish pattern emerges.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (A) 2426 – 2421. TakeProfit: 2476. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 2401 – 2394. TakeProfit: 2476. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro has reached the first bullish target of 1.0939 within the short-term uptrend. If the price consolidates above this level, the growth will likely continue to the target of 1.1008. If bears manage to hold the price below 1.0939, the asset will correct to the support (B) 1.0882 – 1.0870 again.
The support (B) is the trend’s boundary. Therefore, long trades can be considered as long as the price is trading above this zone and bullish patterns appear.
EURUSD trading ideas for today:
Hold up long trades opened at support (B) 1.0882 – 1.0870. TakeProfit: 1.1008. StopLoss: at the breakeven.
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Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. 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.