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.
XAUUSD buyers try to start a correction.
Oil price forecast for today: USCrude analysis
As a part of an ascending correction to the short-term oil downtrend, the price reached the key resistance 78.26 – 77.73. The zone has not been broken out, and today, it is relevant to sell the instrument with a target at the low of February 6. The pattern should appear following the sellers’ reaction visible in the chart.
If the price breaks out the key resistance, the oil trend will turn up. If so, it will be relevant to buy oil with a target in the upper Targte Zone 84.03 – 82.98.
USCrude trading ideas for today:
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 XAUUSD buyers are trying to start a correction in the short-term downtrend. If the correction starts, the price will reach the resistance zones of 1897 – 1894 and 1916 – 1911. One could enter new sell trades in the resistance zones with a target at the low of February 6.
The trend border is in the zone of 1916. If this zone is broken out, the short-term trend will turn up, and it will be relevant to buy.
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
Yesterday, the EURUSD was corrected, and traders tried to test the resistance (А) 1.0785 – 1.0775. The correction continues today. The price could test resistance (A). After the test, I suggest selling the instrument with a target at the low of February 7.
If the resistance (A) is broken out, the price should reach the trend border 1.0844 – 1.0828. One could also enter sell trades in the trend border zone with a target at the low of February 7.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (А) 1.0785 – 1.0775. TakeProfit: 1.0670. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (В) 1.0844 – 1.0828. TakeProfit: 1.0670. 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.