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.
The euro has broken through the support (A) 1.0537 – 1.0528.
The article covers the following subjects:
Major Takeaways
USCrude: oil is maintaining a downtrend.
XAUUSD: gold is rising to the target in the Target Zone 2726 – 2709.
EURUSD: the euro is trading in a short-term uptrend and is correcting downward today with the target at the support (B) 1.0491 – 1.0478.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in an upward correction within a short-term downtrend. If the price remains below the 68.68 level today, one may consider short trades with the target at the December 6 low. Conversely, if the asset pierces this level, the quotes may grow and test the trend boundary near 70.85 – 70.45.
USCrude Trading Ideas for Today:
Sell below 68.30. TakeProfit: 66.84. StopLoss: 68.90.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to strengthen within the short-term uptrend. The price has hit the first bullish target near 2673. The next target is 2721. Yesterday, one could hold long trades and consider new ones above the 2666 level. These long trades can be partially closed today and shifted to the breakeven level.
If the price returns below the 2673 level, the downward correction will likely continue. In this case, the asset may retest the key support 2634 – 2626.
XAUUSD Trading Ideas for Today:
Hold up long trades above 2666. TakeProfit: 2721. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has broken through the support (A) 1.0537 – 1.0528. Thus, the downward correction may continue today with the target at the short-term uptrend’s key support (B) 1.0491 – 1.0478. Once this zone is reached, one may consider long trades with the first target of 1.0553 and the second one of 1.0629.
If the price pierces the support (B) today, the short-term uptrend will reverse. In this case, consider short trades with the main target in the lower Target Zone 1.0353 – 1.0326, starting from tomorrow.
Once the price retreats to the support (A), a bullish pattern may form. In this case, the first bullish target will be 1.0579, and the second one will be 1.0629.
EURUSD Trading Ideas for Today:
Buy at support (В) 1.0491 – 1.0478. TakeProfit: 1.0553, 1.0629. StopLoss: 1.0455.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.
Discussion about this post