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 was corrected down in the short-term uptrend and reached support (A).
Oil price forecast for today: USCrude analysis
Oil continues rising in the short-term uptrend. The upside target is Target Zone 84.17 – 83.12. It is relevant to enter purchases on the correction.
If the correction continues, the price will reach support (A) 78.12 – 77.77 or support (B) 76.37 – 75.85. After any of these supports is reached, I suggest entering a long trade according to the pattern with a target at today’s high.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 78.12 – 77.77. TakeProfit: 81.58. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 76.37 – 75.85. TakeProfit: 81.58. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold was corrected down in the short-term uptrend and reached support (A) 1894 – 1890. One could enter purchases in the support zone with a target at the high of January 16. If the price breaks out support (A), the correction will continue down to the trend border 1877 – 1872. Once the trend border is reached, I also recommend entering purchases.
If the gold price rises and breaks out Target Zone 3,1940 – 1933, the next target will be Gold Zone 3, 1971 – 1968.
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
EURUSD has reached support (A) 1.0768 – 1.0757 today. After the support was tested, the buyers showed a reaction. So, it is relevant to enter long trades today with a target at the high of January 16.
If the high of Jan 16 is broken through, the market will continue rising up to Target Zone 3, 1.0985 – 1.0964.
If the price chart breaks through today’s low, it could break out support (A) and reach support (B) 1.0715 – 1.0699.
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.