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.
Euro is trading under the resistance of 1.0773 – 1.0752.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil downtrend continues. The target for sales is January 5 low. After updating January 5 low, the next target will be the Target Zone 71.03 – 69.98.
Since traders fail to break out the resistance (A) 76.47 – 76.12, today it is profitable to hold short trades with the targets indicated above.
To enter purchases, it is necessary to update January 9 high and consolidate the price higher.
USCrude trading ideas for today:
Hold down sell trades entered at resistance (A) 76.47 – 76.12. TakeProfit: 72.70. StopLoss: 77.03.
Gold price forecast for today: XAUUSD analysis
Buyers are trying to consolidate the gold price above the Target Zone 2, 1877 – 1870. If they succeed, the next target will be the Gold Zone 1905 – 1902. Otherwise, expect the development of a correction.
If a correction starts, expect the price to reach strong support levels. The zone of 1850 – 1846 serves as the closest support. Trend border is at 1832 – 1827. After the price tests these strong zones, start looking for new long trades with a target at today’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (A) 1850 – 1846. TakeProfit: 1884. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1832 – 1827. TakeProfit: 1884. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro is trading under the resistance of 1.0773 – 1.0752. It has not been broken out, so further growth is not expected yet. If during today’s trading the price consolidates above the level of 1.0773, the next target for purchases will be the Gold Zone 1.0869 – 1.0858.
If today the price corrects, expect the euro in the support zone (A) 1.0654 – 1.0643. It will be possible to consider new purchases in the beforementioned support with a target at January 9 high. The trend border is shifting to the zone of 1.0601 – 1.0585. If the price reaches it, also consider purchases.
EURUSD trading ideas for today:
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Buy according to the pattern at support (A) 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.