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.
The EURUSD reached the upper Target Zone in the short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price was corrected yesterday and reached resistance (A) 76.47 – 76.12. Sellers went ahead and the price went down.
Today, the oil price should continue declining with a target to break through the low of January 5. After this low is broken through, the next downside target will be the lower Target Zone 71.03 – 69.98.
USCrude trading ideas for today:
Hold down sell trades entered at resistance (А) 76.47 – 76.12. TakeProfit: 72.70. StopLoss: 77.03.
Gold price forecast for today: XAUUSD analysis
Yesterday, the gold traders tried to break out the upper Target Zone 1877 – 1870 but failed. Nonetheless, the short-term uptrend continues. If the upper TZ is broken out today, the next upside target will be the Gold Zone 2, 1905 – 1902.
If the price starts a descending correction, it could reach support (A) 1846 – 1843. One could also enter purhcases in the support zone with a target at yesterday’s high.
If support (A) is broken out downside, the correction will continue down to the trend border 1829 – 1824.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1846 – 1843. TakeProfit: 1880. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1829 – 1824. TakeProfit: 1880. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD is trading in the short-term uptrend. The price reached the upper Target Zone 1.0773 – 1.0752. The zone is being held down by sellers, so the price won’t be rising right away. The price will continue growing if it breaks out the Target Zone and consolidates above.
If the Target Zone is held down, the price will be corrected. Following the correction, the price could reach support (A) 1.0654 – 1.0643 and support (B) 1.0601 – 1.0585. I recommend entering purhcases in the support zones with a target at yesterday’s high.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0654 – 1.0643. TakeProfit: 1.0758. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0601 – 1.0585. TakeProfit: 1.0758. StopLoss: according to the pattern rules.
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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.