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 price broke out support (A) 79.17 – 78.82 yesterday.
Oil price forecast for today: USCrude analysis
The oil price broke out support (A) 79.17 – 78.82 yesterday. Today, the price is testing support (B) 77.42 – 76.89. The zone is the trend border, so one could enter new purchases with a target at the high of January 23.
If support (B) is broken out and the price consolidates below, the oil short-term trend will turn down. In this case, it will be relevant to sell oil with a target in the lower Targte Zone 72.17 – 71.12.
USCrude trading ideas for today:
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 price has tested support (A) 1914 – 1911. The short-term trend remains up, and it is relevant to buy gold according to the pattern, with a target at the high of January 26. If the high of January 26 is broken through, the next upside target will be the Gold Zone 1971 – 1968.
If support (A) is broken out, the correction will continue down to the trend border 1897 – 1892. I also recommend entering long trades at the trend border with a target at the high of January 26.
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 has been corrected down to support (A) 1.0823 – 1.0812. The short-term trend remains up. One could consider long positions today with a target at the high of January 26. If the high of January 26 is broken through, the next target will be Target Zone 1.0985 – 1.0964.
If support (A) is broken out, the price will go down to support (B) 1.0770 – 1.0754. This is the trend border, where one could also enter buy 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 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.