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 short-term trend for the three analyzed assets has reversed up.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term oil trend has reversed up. Yesterday, the Intermediary Zone 80.68 – 80.25 was broken out. Now the target for purchases is the upper Target Zone 85.32 – 84.48.
A correction is currently developing. As a part of it, traders intend to test the Additional Zone 79.83 – 79.62. After the AZ test, consider purchases according to the pattern with the target at today’s high.
If during the correction the Additional Zone is broken out downside, the decline will continue with the target in the Intermediary Zone 77.72 – 77.30. The IZ serves as the border of a new uptrend.
USCrude trading ideas for today:
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Buy according to the pattern in Additional Zone 79.83 – 79.62. TakeProfit: 81.90. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 77.72 – 77.30. TakeProfit: 81.90. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The short-term gold trend reversed up. Yesterday, buyers broke out the Intermediary Zone 1646 – 1643. Now the target for purchases is the upper Target Zone 1677 – 1671.
Currently, a correction is developing, within which traders are testing the Additional Zone 1648 – 1647 and trying to break it out. If the sellers break out the AZ down, the correction will continue with the target in the Intermediary Zone 1634 – 1631.
The Intermediary Zone serves as the border of a short-term uptrend. After reaching it, also consider purchases according to the pattern with the target at yesterday’s high.
XAUUSD trading ideas for today:
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Buy according to the pattern in Additional Zone 1648 – 1647. TakeProfit: 1662. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 1634 – 1631. TakeProfit: 1662. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro downtrend reversed up. Yesterday, the Intermediary Zone 0.9652 – 0.9641 was broken out. As a result, the upper Target Zone 0.9769 – 0.9747 was immediately reached. After that, the price corrected.
A possible correction target is a test of the Intermediary Zone 0.9644 – 0.9634, which serves as the key support of the new short-term uptrend. After a key support’s test, consider purchases according to the pattern with a target at yesterday’s high.
If during trading the Intermediary Zone 0.9644 – 0.9634 is broken out downside and the price closes lower in the American trading session, the short-term trend will reverse down. In this case, consider sales with the target in the lower Target Zone 0.9538 – 0.9517.
EURUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 0.9644 – 0.9634. TakeProfit: 0.9748. 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.
