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.
EURUSD reached Gold Zone 2, 1.0869 – 1.0858 yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil short-term trend turned up yesterday. The price broke out resistance (В) 78.40 – 77.87. The upside target is now the upper Target Zone 84.17 – 83.12.
One could enter long trades on the correction to strong support levels, support (А) 75.83 – 75.48 and support (В) 74.08 – 73.56. Before you enter a purchase, expect the test of either zone and a corresponding pattern.
The first upside target is around yesterday’s high.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 75.83 – 75.48. TakeProfit: 79.29. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 74.08 – 73.56. TakeProfit: 79.29. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold short-term uptrend continues. The price reached Gold Zone 2, 1905 – 1902 yesterday. The gold traders should try to break out this zone. If the zone is broken out, the next upside target will be Target Zone 3, 1940 – 1933.
If Gold Zone 2 is held down, the price will be corrected down to support (A) 1866 – 1862 or support (В) 1849 – 1843.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1866 – 1862. TakeProfit: 1900. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1849 – 1843. TakeProfit: 1900. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD reached Gold Zone 2, 1.0869 – 1.0858 yesterday. The short-term uptrend continues. If Gold Zone 2 is broken out, the next upside target will be Target Zone 3, 1.0985 – 1.0964.
One could enter new long trades on the correction to strong support levels, such as support (A) 1.0761 – 1.0751 and support (B) 1.0708 – 1.0693. To enter a long trade, expect the test of any of the zones and discover a buy pattern. The first upside target is today’s high.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0761 – 1.0751. TakeProfit: 1.0866. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0708 – 1.0693. TakeProfit: 1.0866. 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.