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 gold short-term uptrend continues.
Oil price forecast for today: USCrude analysis
Yesterday, the oil price has broken through the high of January 18 in the short-term uptrend. The next upside target is Target Zone 84.17 – 83.12. It is relevant to enter new oil purhcases on the correction to strong support levels.
Strong support levels are support (A) 79.17 – 78.82 and support (B) 77.42 – 76.89. To enter a long position, there should be a buy pattern.
It will be relevant to sell when the short-term trend turns down. It will happen if the price breaks out level 76.89.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 79.17 – 78.82. TakeProfit: 82.63. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 77.42 – 76.89. TakeProfit: 82.63. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term uptrend continues. The price is approaching the high of January 20 and could break it through. If the high is broken through, one should see if the buyers break out Target Zone 1940 – 1933 and consolidate above. If the TZ is broken out, the next upside target will be the Gold Zone 1971 – 1968. Otherwise, the price will be corrected.
If the correction develops, the price could reach a strong support zone. When any of the support zones is tested, one could enter new purchases with a target at the high of January 20.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1902 – 1899. TakeProfit: 1936. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1885 – 1880. TakeProfit: 1936. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-trem uptrend continues. The upside target is Target Zone 1.0985 – 1.0964. It is relevant to enter new purchases on the correction at support (A) 1.0820 – 1.0810 or at support (B) 1.0767 – 1.0752. The first target is around the high of January 23.
It will be relevant to sell when the price breaks out level 1.0752 and consolidates below.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0820 – 1.0810. TakeProfit: 1.0925. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0767 – 1.0752. TakeProfit: 1.0925. 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.