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.
The euro uptrend continued yesterday.
Oil price forecast for today: USCrude analysis
The oil short-term trend could turn down. Yesterday, the price tested the trend border 77.42 – 76 89 again. The price went lower than the low of January 31.
Today, the price is trading within the (B) support zone. Yesterday’s low should be broken through today. If so, the trend key support will be broken out.
If the key support is broken out, the oil trend will turn down, and it will be relevant to sell with a target at the Target Zone 72.17 – 71.12.
USCrude trading ideas for today:
Monitor the market.
Gold forecast for today: XAUUSD analysis
The gold short-term uptrend continued yesterday, and the price went higher than the high of January 26. The next upside target is the Gold Zone 1971 – 1968.
It is relevant to enter new longs on the correction to the strong support levels. The first strong support is the zone of 1925 – 1922. The second support is the zone of 1910 – 1905. Before you enter a long trade, expect until any of the abovementioned zones is tested by the price and there appears a reversal pattern to buy.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1925 – 1922. TakeProfit: 1956. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1910 – 1905. TakeProfit: 1956. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-term uptrend continued yesterday. The high of January 26 was broken through. The price also tested the Target Zone 1.0985 – 1.0964. TZ has been broken out today, but the price hasn’t yet consolidated above.
It will be relevant to enter new purchases when there is a correction down. The price could test support (A) 1.0927 – 1.0916 or support (В) 1.0874 – 1.0858. One could enter long trades in the support zones with a target at today’s high.
If the price consolidates above the Target Zone at the US session today, the next upside target will be the Gold Zone 1.1081 – 1.1070.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0927 – 1.0916. TakeProfit: 1.1030. StopLoss: at breakeven.
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Buy according to the pattern at support (В) 1.0874 – 1.0858. TakeProfit: 1.1030. 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.