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.
Euro continues rising.
Oil price forecast for today: USCrude analysis
The oil price is being corrected down in the short-term uptrend. The price should be corrected down to support (A) 79.17 – 78.82. When support (A) is reached by the price, one could enter new purchases with a target at the high of January 23.
If support (A) is broken out, the correction will continue down to the trend border 77.42 – 76.89. After the trend border is tested, it will be also relevant to enter long trades with the above-indicated target.
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 market participants are trying to break out the Target Zone 1940 – 1933, but they haven’t succeeded yet. The market could be corrected down to support (A) 1907 – 1904 or support (B) 1890 – 1885. When any of the support zones is reached, one could enter new purchases according to the pattern.
If the Target Zone is broken out, the upside target will be the Gold Zone 1971 – 1968. In this case, the support zones should be rearranged.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1907 – 1904. TakeProfit: 1941. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1890 – 1885. TakeProfit: 1941. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro continues rising in the short-term uptrend. The upside target is Target Zone 1.0985 – 1.0964. Strong support levels are 1.0820 – 1.0810 and 1.0767 – 1.0752. I suggest entering new purchases in the support zones according to the pattern, with a target at the high of January 23.
If the price continues rising from the current levels and breaks through the high of January 23, the support zones should be rearranged.
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 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.