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.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil short-term trend turned down yesterday. The price broke out the trend key support 76.28 – 75.76. The downside target is now the lower Target Zone 71.03 – 69.98.
It is relevant to enter short trades on the correction to strong resistance levels. Strong resistance levels are resistance (А) 76.74 – 76.39 and resistance (B) 78.67 – 78.14. The first downside target is yesterday’s low.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (А) 76.74 – 76.39. TakeProfit: 72.97. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (В) 78.67 – 78.14. TakeProfit: 72.97. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The gold short-term uptrend continues. The price broke out the Gold Zone 1842 – 1839. The upside target now is Target Zone 2, 1877 – 1870.
I recommend entering new purchases on the correction after strong support levels are tested. Strong supports are support (A) 1833 – 1830 and support (В) 1817 – 1813. Before entering longs, expect the test of support levels and the appearance of the corresponding pattern. The first target could be set around yesterday’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1833 – 1830. TakeProfit: 1864. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1817 – 1813. TakeProfit: 1864. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
This week, the EURUSD traders have been testing the key support of the short-term uptrend 1.0554 – 1.0538. The zone has been held up, and one could enter new purchases there with a target at the high of December 30. If this high is broken through, the next upside target will be Target Zone 2, 1.0773 – 1.0752.
It is relevant to enter long trades on the correction towards the support.
It will be relevant to sell if the price breaks through the low of January 3 and consolidates below. In this case, the short-term trend will turn down.
EURUSD trading ideas for today:
Buy according to the pattern at support (В) 1.0554 – 1.0538. TakeProfit: 1.0711. 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.