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.
Short-term forecast for oil, gold, and euro/dollar for today. The gold price broke through the local low yesterday; the Gold Zone 2, 1645 — 1642, was also broken out.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil traders were testing the Additional Zone 79.37 – 79.16 yesterday. The AZ worked out, and the price broke through the local daily low. The Gold Zone 76.74 — 76.31 was reached by the price.
The oil short-term trend remains down. The price will continue falling if it breaks out the Gold Zone and consolidates below at the US session. In this case, the next downside target will be Target Zone 2, 72.44 — 71.58.
The oil price is being corrected currently. The correction target could be the test of the new Additional Zone 78.35 – 78.14. After the AZ is tested, one could consider entering new short trades with a target at yesterday’s low.
USCrude trading ideas for today:
- Sell according to the pattern in Additional Zone 78.35 - 78.14. TakeProfit: 76.11. StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone 80.68 - 80.25. TakeProfit: 76.11. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, the gold market broke through the local low and broke out Gold Zone 2, 1645 – 1642. The next downside target will be Target Zone 3, 1612 — 1606.
The price is now being corrected up and testing the Additional Zone 1636 – 1635. The AZ is a strong resistance where one could enter new sell trades according to the pattern with a target at yesterday’s low.
If the price breaks out the Additional Zone upside, the correction will continue up to the Intermediary Zone 1652 - 1649. The IZ is the border of the short-term downtrend, and if the price reaches it, one could also enter short trades.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1636 - 1635. TakeProfit: 1621. StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone 1652 - 1649. TakeProfit: 1621. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro is trading in the short-term downtrend. Yesterday, the price was testing the trend key resistance 0.9666 - 0.9655. The resistance was not broken out.
Today, it is relevant to enter sell trades according to the pattern, The downside targets are today’s low and Target Zone 3, 0.9561 — 0.9540.
If the price breaks out the Intermediary Zone upside and closes above it at the US session, the short-term trend will turn up. In this case, it will be relevant to enter long trades with a target in the upper Target Zone 0.9783 - 0.9761.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 0.9666 - 0.9655. TakeProfit: 0.9587, Target Zone 3, 0.9561 - 0.9540. 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 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.
