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.
Yesterday, the first target for oil sales in the zone of 62.22 – 61.87 was reached.
Oil price forecast for today: USCrude analysis
Yesterday, the first target for oil sales in the zone of 62.22 – 61.87 was reached. This target was the support level of 60.75. Traders held the level, as a result, the oil price rose.
At the moment, the bulls are trying to consolidate the price above the resistance level of 61.12. If successful, then there will be an opportunity to start buying oil with the target in the Intermediary Zone 64.00 – 63.14.
The Intermediary Zone is a strong resistance. The short-term trend will turn up if the price breaks out the zone and consolidates above.
USCrude trading ideas for today:
- Aggressive: buy from the level of 61.55. TakeProfit: Intermediary Zone 64.00 – 63.14. StopLoss: 60.89.
- Sell according to the pattern in Intermediary Zone 64.00 – 63.14. TakeProfit: 60.93. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The short-term gold uptrend continues. Yesterday, the traders tested the Intermediary Zone 1772 – 1770. It was impossible to break out the zone, so the price rose and reached the resistance Additional Zone 1782 – 1781.
To form a buy pattern, it is necessary to break out the Additional Zone and consolidate the price above. In this case, the target will be the resistance level of 1796.
If the Additional Zone is held, yesterday’s low will be updated. Therefore, it will be possible to sell gold according to the pattern.
XAUUSD trading ideas for today:
- If the price consolidates above level 1782, buy. TakeProfit: 1796. StopLoss: 1777.
- Sell according to the pattern in Additional Zone 1782 – 1781. TakeProfit: 1768. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The short-term euro uptrend continues. Yesterday, traders tested the Additional Zone 1.2072 – 1.2068. The price didn’t break out the zone, and support level 1.2066 was formed. Today, it is profitable to hold purchases entered in this level with the target of 1.2113. After reaching level 1.2092, trades can be transferred to breakeven.
A breakout of support at 1.2066 is required for sales. This will allow opening a short euro trade with the target in the Intermediary Zone 1.2028 – 1.2020.
EURUSD trading ideas for today:
- Hold buy trades entered in the zone of level 1.2066. TakeProfit: 1.2113. StopLoss: 1.2051.
- Sell when level 1.2066 is broken out. TakeProfit: Intermediary Zone 1.2028 – 1.2020. StopLoss: 1.2087.
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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 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.