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I welcome my fellow traders! I have made a price forecast for the USCrude, 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 holding above the key support within the short-term uptrend.
The article covers the following subjects:
Major Takeaways
USCrude: oil continues to slowly decline below the lows within a short-term downtrend.
XAUUSD: gold is trying to break through the key support 2634 – 2626.
EURUSD: The euro is trading in a correction within the short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil maintains its short-term downtrend. The second bearish target for the trades opened at the resistance (B) 70.85 – 70.45 is 66.51. If the price hits this level, the decline may continue with the target in the Gold Zone 65.93 – 65.63.
An alternative scenario suggests that if the asset pierces and consolidates above the resistance (B), the short-term downtrend will reverse. Thus, one may consider long trades with the target in the upper Target Zone 75.19 – 74.40.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (B) 70.85 – 70.45. TakeProfit: 66.51. StopLoss: 69.00.
Gold Forecast for Today: XAUUSD Analysis
Gold is holding above the short-term uptrend’s key support 2634 – 2626. Consider long trades near this zone with the first target of 2673 and the second one near 2721 once a corresponding pattern emerges. Currently, no bullish pattern is observed.
If the price breaks through the support (B) today, the short-term uptrend will reverse. In this case, consider short trades with the target in the lower Target Zone 2548 – 2531, starting from tomorrow.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to trade in a correction within the short-term uptrend. As a result, the price has pierced the support (A) 1.0505 – 1.0496 and approached the support (B) 1.0459 – 1.0445. Traders opened long positions at the close of the US trading session. Therefore, one may consider long trades today with the main target near 1.0597 once a bullish pattern forms.
The price should break through and settle below the 1.0445 mark in the US trading session to allow traders to open short positions and reverse the trend. In this case, consider short trades with the target in the lower Target Zone 1.0321 – 1.0293, starting from tomorrow.
EURUSD Trading Ideas for Today:
Buy at support (B) 1.0459 – 1.0445. TakeProfit: 1.0521, 1.0597. StopLoss: 1.0418.
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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.
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