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.
Oil is correcting in a short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is correcting in a short-term uptrend. Yesterday, the Additional Zone 90.74 – 90.55 was broken out. Today the Intermediary Zone 88.86 – 88.49 serves as the correction’s target. After the IZ test, look for purchases according to the pattern with the first target around yesterday’s high. The main target for purchases is the Target Zone 2, 93.77 – 92.93.
If the Intermediary Zone is broken out downside during the trades and the price closes lower in the American trading session, the short-term trend will reverse down. In this case, look for oil sales with the target in the lower Target Zone 85.11 – 84.36.
USCrude trading ideas for today:
Buy according to the pattern in Intermediary Zone 88.86 – 88.49. TakeProfit: 92.52. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
On Tuesday morning, the short-term gold downtrend continues. Yesterday, the Target Zone 1672 – 1666 was reached. Traders tried to break out this TZ, but to no avail.
Today, sellers are again trying to consolidate the price below the Target Zone. If successful, the next target for sales will be the Gold Zone 1643 – 1641. Otherwise, the price will correct with the target in the Additional Zone 1676 – 1675.
The Additional Zone is a strong resistance level. After its test, consider new sales according to the pattern with a target at today’s low.
If during trading the Additional Zone is broken out upside, the correction will continue with the target in the Intermediary Zone 1692 – 1689. The IZ serves as the border of a short-term downtrend, where it is also profitable to look for sales.
XAUUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1676 – 1675. TakeProfit: 1661. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1692 – 1689. TakeProfit: 1661. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the short-term euro downtrend continued, within which the price reached the Gold Zone 0.9681 – 0.9671. Today the Additional Zone 0.9739 – 0.9734 worked out, as a result, traders managed to update yesterday’s low.
If the Gold Zone is broken out downside during trading and the price will be closed lower in the American trading session, the next target for sales will be the Target Zone 2, 0.9575 – 0.9554.
If the Gold Zone is held by buyers, an upward correction will start. Within which, expect the price to reach the new Additional Zone 0.9729 – 0.9723. The AZ serves as a strong resistance level, where it is profitable to consider new sales according to the pattern with a target at today’s low.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 0.9729 – 0.9723. TakeProfit: 0.9671. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 0.9787 – 0.9776. TakeProfit: 0.9671. 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.
