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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.
The euro reached the main sales target.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil price is growing within a short-term uptrend. The nearest bullish target is the Gold Zone 84.98 – 84.65. After reaching the GZ, traders will likely close their long trades, and the price may correct.
If the correction starts at the current levels, the price is expected to reach the support (A) 80.69 – 80.36. After reaching the support (A), consider purchases with the target at today’s high. If the support (A) is broken out downside, the correction will likely drag the price to the 79.04 – 78.55 trend border.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 80.69 – 80.36. TakeProfit: 83.94. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 79.04 – 78.55. TakeProfit: 83.94. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Yesterday, gold corrected downwards. Today, the correction may continue as long as the price remains below yesterday’s high. If the correction continues, gold may slide to the support (A) 2221 – 2217. Once the price reaches the support (A), traders may consider purchases with a target at yesterday’s high.
If the price consolidates above yesterday’s high, the next bullish target will be Target Zone 3 2288 – 2279.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 2221 – 2217. TakeProfit: 2264. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 2199 – 2192. TakeProfit: 2264. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro has reached the Target Zone 1.0729 – 1.0704, maintaining a short-term downtrend. The price may rebound from the Target Zone, as this zone serves as a strong support level. If the price grows, the correction may start. In this scenario, an impulse to the resistance (A) of 1.0817 – 1.0808 may occur. If the price reaches the resistance (A), consider sales according to the pattern with the target at today’s low.
Today, if the Target Zone is broken out downside and closes lower in the US session, the next sales target will be the Gold Zone 1.0645 – 1.0636.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (А) 1.0817 – 1.0808. TakeProfit: 1.0729. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (В) 1.0863 – 1.0850. TakeProfit: 1.0729. StopLoss: according to the pattern rules.
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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.
