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.
Yesterday, the euro tested the short-term uptrend’s key support.
The article covers the following subjects:
Major Takeaways
USCrude: oil will likely reverse the trend.
XAUUSD: gold has reached the second bullish target near the November 25 high.
EURUSD: the euro is rising after hitting the support (B) 1.0491 – 1.0478.
Oil Price Forecast for Today: USCrude Analysis
The US has revised its forecast for an oil surplus next year and now predicts a slight deficit. Against this backdrop, the quotes strengthened sharply yesterday. Today, the price is approaching the short-term downtrend’s key resistance 70.85 – 70.45. If the asset breaks through this zone, the downtrend will reverse. In this case, one may consider long trades with the main target in the upper Target Zone 75.19 – 74.40, starting from tomorrow.
If the price forms a sell pattern after testing the key resistance, consider short trades with the first target of 68.68.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the second bullish target of 2721 within the short-term uptrend. This level is in the upper Target Zone 2726 – 2709. If the price pierces and settles above this zone, the next bullish target will be the Gold Zone 2772 – 2766.
Consider long trades on a correction at the strong support (A) 2668 – 2662 and support (B) 2639 – 2631 with the main target at today’s high.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2668 – 2662. TakeProfit: 2694, 2726. StopLoss: 2652.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tested the short-term uptrend’s key support 1.0491 – 1.0478. However, bulls have managed to keep the price above this zone. Afterward, the quotes started to grow. If the asset continues to climb today, the price will reach the first bullish target near 1.0553. The next target will be 1.0629.
If the euro pierces the support 1.0491 – 1.0478, the short-term uptrend will reverse. In this case, one may consider short trades with the target in the lower Target Zone 1.0353 – 1.0326.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (B) 1.0491 – 1.0478. TakeProfit: 1.0553, 1.0629. StopLoss: 1.0455.
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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.
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