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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.
Yesterday, oil reached the resistance level of 78.49.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil reached the resistance level of 78.49 as part of a short-term uptrend. The price could not consolidate higher. Today, a downward correction may begin to develop. The price may reach support (A) 75.39 – 75.06 in this case. After reaching this zone, consider new purchases with a target at 78.49.
If the level of 78.49 is broken out upside, the growth will continue with the target in the upper Target Zone 82.34 – 81.35.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 75.39 – 75.06. TakeProfit: 78.49. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in correction to the short-term downtrend. The price is trading below resistance (B) 2052 – 2046. Around this zone, it is reasonable to consider sales with a target at February 14 low.
If, during trading, the resistance (B) is broken out upside, the short-term trend will reverse up. In this case, from the next trading day, 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 is declining after rising from support (A) 1.0804 – 1.0796. Traders are going to retest this zone. If this support is held for the second time, then open purchases according to the pattern with the target at February 22 high.
If, during trading, support (A) is broken out downside, the correction will continue to support (B) 1.0762 – 1.0749. Support (B) serves as the border of a short-term uptrend. In this zone, it is also profitable to consider purchases with a target at 1.0880.
EURUSD trading ideas for today:
Buy according to the pattern at support (В) 1.0762 – 1.0749. TakeProfit: 1.0880. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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.
