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.
Gold is trading in the short-term uptrend.
Oil price forecast for today: USCrude analysis
Oil is trading in the short-term uptrend. The upside target is the upper Target Zone 84.17 – 83.12. The price is being corrected now. If correction continues, the price should reach strong support levels, where one could enter new purchases.
Strong support levels are now support (A) 76.92 – 76.57 and support (B) 75.17 – 74.64. To enter a long trade, expect the test of any support zone and look for a buy pattern. The first upside target is today’s high.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 76.92 – 76.57. TakeProfit: 80.30. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 75.17 – 74.64. TakeProfit: 80.30. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold is trading in the short-term uptrend. Last Friday, the price broke out Gold Zone 2, 1905 – 1902. The next upside target is Target Zone 3, 1940 – 1933. I recommend entering new purchases on the correction.
In case of a correction, the price should reach strong levels, support (A) 1894 – 1890 and support (B) 1877 – 1872. Enter a trade only when there is a corresponding pattern. The first upside target is today’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1894 – 1890. TakeProfit: 1928. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1877 – 1872. TakeProfit: 1928. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro is trading up in the short-term trend. The price reached Gold Zone 2, 1.0869 – 1.0858. This zone has not been broken out, so the price won’t be rising instantly. If Gold Zone is held down by sellers, there could be a descending correction.
Following the correction, the price could reach support (A) 1.0768 – 1.0757 and support (В) 1.0715 – 1.0699. If so, one could enter long trades with the first target at today’s high.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0768 – 1.0757. TakeProfit: 1.0872. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0715 – 1.0699. TakeProfit: 1.0872. 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 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.