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 oil short-term uptrend continues.
Oil price forecast for today: USCrude analysis
The oil short-term uptrend continues. The price tested support (A) 79.15 – 78.80 yesterday. The support has not been broken out, and the price resumed rising. The upside target is the high of January 18. The second target is the upper Target Zone 84.17 – 83.12.
If Target Zone is broken out, the next target will be Gold Zone 86.97 – 86.62.
It will be relevant to sell when the trend turns down in case the price breaks out the trend key support 77.40 – 76.88.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 79.15 – 78.80. TakeProfit: 82.60. StopLoss: according to the pattern rules.
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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 is trading in the short-term uptrend. The price broke through the high of January 16. The trades entered at support (A) 1894 – 1890 have yielded profits.
The market participants are trying to break out Target Zone 1940 – 1933. If TZ is broken out, the next upside target will be the Gold Zone 1971 – 1968. Otherwise, the market will be corrected down.
If the descending correction develops, the price will reach support (A) 1900 – 1897. After the support is tested, I suggest entering new buy trades with a target at yesterday’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1900 – 1897. TakeProfit: 1934. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1883 – 1878. TakeProfit: 1934. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-term uptrend continues. The price is trading between the Gold Zone 1.0869 – 1.0858 and support (А) 1.0781 – 1.0770. The market participants didn’t break out support (A) yesterday, and one could enter long trades around the support zone today with a target at the high of January 18. If this high is broken through, the next upside target will be Target Zone 1.0985 – 1.0964.
It will be relevant to sell when the trend turns down via the breakout of the key support zone 1.0728 – 1.0712. In this case, one should open sell positions with a target in the lower Target Zone 1.0569 – 1.0537.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0781 – 1.0770. TakeProfit: 1.0885. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0728 – 1.0712. TakeProfit: 1.0885. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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.