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 is being corrected down in the short-term uptrend.
Oil price forecast for today: USCrude analysis
The oil short-term trend remains up. The upside target is Target Zone 84.17 – 83.12. Last Friday, the price was corrected to support (A). The support was not broken out, and it is relevant to enter long trades with a target at the high of January 23.
If support (A) is broken out, the price will be corrected down to support (B) 77.42 – 76.89. This is the trend border.
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. Last week, the gold traders were testing support (A) 1914 – 1911. The zone was not broken out. After the test, there was an upward momentum.
Therefore, today, it is relevant to enter long trades at support (A) with a target at the high of January 26. Wait for a buy pattern to enter a purchase, for example, a pattern could be a false breakout of the low of January 27.
The uptrend border is in the zone 1897 – 1892.
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
The EURUSD is being corrected down in the short-term uptrend. The possible target of the correction could be the test of support (A) 1.0823 – 1.0812. After the support is tested, one could enter new purchases with a target at the high of January 26. If the high of January 26 is broken through, the next upside target will be Target Zone 1.0985 – 1.0964.
If the price is corrected down to support (A) is broken out, it could reach the trend border 1.0770 – 1.0754, where one could also consider long trades.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0823 – 1.0812. TakeProfit: 1.0927. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0770 – 1.0754. TakeProfit: 1.0927. 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.