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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 testing the key resistance of the short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term uptrend continues. The price is now trading in correction. If the correction continues today, expect the price in the support (A) 75.96 – 75.63. After the test of this support, consider new purchases with a target at 79.21.
The trend border is shifting to the zone of 74.31 – 73.81. In this zone, you can also consider purchases if the price breaks it out.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 75.96 – 75.63. TakeProfit: 79.21. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is testing the key resistance of the short-term downtrend 2052 – 2046. Sellers still hold the zone. Therefore, today, consider sales according to the pattern. The sales target will be February 14 low in the zone of 1985.
However, at the moment, there is no pattern. This may lead to a breakout of the resistance 2052 – 2046 upwards. In this case, the short-term trend will reverse up. Following this, consider purchases with a target in the upper Target Zone 2121 – 2108.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (В) 2052 – 2046. TakeProfit: 1985. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro short-term uptrend continues. Yesterday, traders unsuccessfully tried to break out support (A) 1.0804 – 1.0796. Therefore, expect a buy pattern today. After its formation, it would be reasonable to open a long trade with a target at February 22 high.
If, during trading, the support (A) is broken out downside, the correction will continue with the target at support (B) 1.0762 – 1.0749. You can also consider purchases with a target at February 22 high in support (B).
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0804 – 1.0796. TakeProfit: 1.0885. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0762 – 1.0749. TakeProfit: 1.0885. 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.
