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.
Gold is working out a priority sell pattern in the zone of 1896 – 1891.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil price is correcting, but the short-term trend remains up. The trend target is the Target Zone 2 72.64 – 72.11.
Yesterday, the Micro-zone 69.81 – 69.74 was broken out. Then the price reached the Additional Zone 69.14 – 69.01. As long as the Additional Zone is held by buyers, it is profitable to look for long trades with a target at yesterday’s high.
The uptrend border is at the level of 68.43. If this level is broken out, it will be possible to sell oil.
USCrude trading ideas for today:
Open buy positions according to the pattern in 69.14 – 68.43. TakeProfit: 70.42. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Gold is working out a priority sell pattern in the zone of 1896 – 1891. Yesterday, there was a false breakout of the Asian local highs, so the price returned below the resistance of 1896. This allowed re-entering the trade using the Pin-bar pattern in the 30-minute timeframe if the trade from yesterday’s article was closed with a stop loss.
The downside target is the Intermediary Zone 1881 – 1878. After testing the zone, look for purchases within the short-term uptrend.
If the Intermediary Zone is broken out, the trend will reverse down. In this case, sell gold with a target in the lower Target Zone 1858 – 1854.
XAUUSD trading ideas for today:
Hold down sales entered in the zone of 1896 – 1891. TakeProfit: Intermediary Zone 1881 – 1878. StopLoss: at the breakeven.
Euro/Dollar forecast for today: EURUSD analysis
A short-term euro downtrend continues. The trend target is to reach the Target Zone 1.2090 – 1.2072.
Yesterday, the players tested the border of the trend 1.2200 – 1.2192. It was not possible to break out the Intermediary Zone, so the price returned below the levels. Now a pattern for selling the euro is forming. Wait for its completion and sell the instrument with the previously indicated target.
For purchases, buyers need to break out level 1.2215. In this case, the trend will reverse up, and the target for purchases will be the upper Target Zone 1.2297 – 1.2280.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1.2200 – 1.2192. TakeProfit: Target Zone 1.2090 – 1.2072. 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 LiteForex. 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.
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