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 rose from support (А) 1.0768 – 1.0757.
Oil price forecast for today: USCrude analysis
The oil price started a correction down in the short-term uptrend yesterday. The price tested support (А) 79.15 – 78.80. The support zone has not been broken out, and one could enter new purchases with a target at yesterday’s high.
If the correction continues today, the price should reach support (B) 77.40 – 76.88. Support (B) is the trend border, so I recommend entering long trades in the zone with a target at yesterday’s high.
It won’t be relevant to sell until the price consolidates below level 76.88, turning the short-term trend down.
USCrude trading ideas for today:
-
Buy according to the pattern at support (А) 79.15 – 78.80. TakeProfit: 82.60. StopLoss: according to the pattern rules.
-
Buy according to the pattern at support (В) 77.40 – 76.88. TakeProfit: 82.60. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold continues trading in the short-term uptrend. The upside target is Target Zone 3, 1940 – 1933. Strong support levels, where one can enter purchases, are the zone of 1894 – 1890 and 1877 – 1872. Before you enter a trade, expect any of the support zones to be tested and a corresponding pattern to appear. The first upside target is the high of January 16.
If Target Zone 3 is broken out, the next upside target will be Gold Zone 3, 1971 – 1968.
XAUUSD trading ideas for today:
-
Buy according to the pattern at support (А) 1894 – 1890. TakeProfit: 1928. StopLoss: according to the pattern rules.
-
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 rose from support (А) 1.0768 – 1.0757 yesterday. The price broke through the high of January 16. Traders also tried to break out Gold Zone 2, 1.0869 – 1.0858 but failed, and the price started a correction.
Following a correction, the price tested new support (A) 1.0781 – 1.0770. The zone hasn’t been broken out, so one could enter purchases with a target at the high of January 18. If this high is broken through, the price should reach Gold Zone 2. In this case, the next upside target will be Target Zone 3, 1.0985 – 1.0964.
If the correction continues, the price could go down to the trend border 1.0728 – 1.0712. Once the trend border is reached by the pice, it will be also relevant to buy.
EURUSD trading ideas for today:
-
Buy according to the pattern at support (А) 1.0781 – 1.0770. TakeProfit: 1.0885. StopLoss: according to the pattern rules.
-
Buy according to the pattern at support (В) 1.0728 – 1.0712. TakeProfit: 1.0885. StopLoss: according to the pattern rules.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.