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 short-term downtrend continued last Friday.
Oil price forecast for today: USCrude analysis
The oil short-term downtrend continued last Friday. The price broke through the low of February 2 and approached the Target Zone 72.17 – 71.12. Today. the oil price could be corrected, and there will be favourable prices to sell.
In case of a correction, the oil price will reach resistance (A) 77.16 – 76.81, where one can enter new short trades with a first target at Friday’s low.
USCrude trading ideas for today:
-
Sell according to the pattern at resistance (А) 77.16 – 76.81. TakeProfit: 73.36. StopLoss: according to the pattern rules.
-
Sell according to the pattern at resistance (B) 79.09 – 78.56. TakeProfit: 73.36. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term trend turned down last Friday. The price reached Target Zone 1865 – 1855. The market is being corrected up now.
The correction target could be the test of resistance (А) 1897 – 1894. After the resistance is tested, one could enter new sell trades according to the pattern with a target at today’s low.
The trend border is in the zone of 1916 – 1911.
XAUUSD trading ideas for today:
-
Sell according to the pattern at resistance (А) 1897 – 1894. TakeProfit: 1860. StopLoss: according to the pattern rules.
-
Sell according to the pattern at resistance (В) 1916 – 1911. TakeProfit: 1860. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Last Friday, the US dollar strengthened, and the EURUSD short-term trend turned down. The price broke out the trend border 1.0874 – 1.0858. Now, the downside target is the lower Target Zone 1.0715 – 1.0683.
The strong resistance areas are 1.0897 – 1.0886 and 1.0955 – 1.0939. Today, it is relevant to enter short trades in the resistance zones following an ascending correction.
If the price breaks through today’s low, the resistance zones should be rearranged.
EURUSD trading ideas for today:
-
Sell according to the pattern at resistance (А) 1.0897 – 1.0886. TakeProfit: 1.0780. StopLoss: according to the pattern rules.
-
Sell according to the pattern at resistance (В) 1.0955 – 1.0939. TakeProfit: 1.0780. StopLoss: according to the pattern rules.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.