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.
Oil is being corrected down in the short-term uptrend.
Oil price forecast for today: USCrude analysis
Oil is being corrected in the short-term uptrend. The correction target is the test of support (A) 79.17 – 78.82. After this zone is tested, one can enter new purchases with a target at the high of January 23. The second upside target is Target Zone 84.17 – 83.12.
It will be relevant to sell when the price breaks out level 76.89 and consolidates below, as the short-term trend will turn down in this case.
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
Gold is trading in the short-term uptrend. The price broke out Target Zone 1940 – 1933. The next upside target will be Gold Zone 1971 – 1968.
I recommend entering new purchases on the correction down to strong support levels, such as support (A) 1914 – 1911 and support (B) 1897 – 1892. Enter a long trade only when there is a pattern. The first upside target will be today’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1914 – 1911. TakeProfit: 1948. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1897 – 1892. TakeProfit: 1948. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro is trading up in the short-term trend. The upside target is Target Zone 1.0985 – 1.0964. It is relevant to enter new purchases on the correction to the strong support levels, support (A) 1.0820 – 1.0810 and support (B) 1.0767 – 1.0752.
It will be relevant to sell if the price breaks out level 1.0752 and consolidates below. If so, the short-term trend will turn down, and the downside target will be the lower Target Zone 1.0608 – 1.0577.
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 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.