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.
EURUSD reached the major downside target of 1.0715 – 1.0683 yesterday.
Oil price forecast for today: USCrude analysis
Oil is being corrected up in the short-term downtrend. The correction target is to test resistance (A) 76.33 – 75.98. After the resistance zone is tested, one could enter new sell trades with a target at yesterday’s low.
If the correction continues and the price breaks out resistance (A), it will reach the trend border 78.26 – 77.73. One could also enter sell trades in the zone with a target at yesterday’s low.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (А) 76.33 – 75.98. TakeProfit: 72.53. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 78.26 – 77.73. TakeProfit: 72.53. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold price hasn’t broken out Target Zone 1865 – 1855. The price could start a correction up. If so, the market will reach resistance (A) 1897 – 1894. After this zone is tested, one could enter new sell trades with a target at yesterday’s low.
The trend border is in the zone of 1916 – 1911. If this zone is tested by the price, it will also be relevant to sell with a target at yesterday’s low.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistance (А) 1897 – 1894. TakeProfit: 1860. StopLoss: according to the pattern rules.
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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
EURUSD reached the primary sell target in the Target Zone 1.0715 – 1.0683 yesterday. Today I suggest watching if the TZ will be broken out downside. In case of a breakout, the next downside target will be the Gold Zone 1.0609 – 1.0598. Otherwise, the price will be corrected up.
I suggest entering new sell trades on the correction after the test of strong resistance levels. Strong resistance levels are resistance (A) 1.0826 – 1.0815 and resistance (B) 1.0884 – 1.0868. The downside target is around yesterday’s low.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (А) 1.0826 – 1.0815. TakeProfit: 1.0711. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (В) 1.0884 – 1.0868. TakeProfit: 1.0711. 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.