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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 trading in a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is maintaining an upward correction within the short-term downtrend. If the asset tests resistance (A) 79.32 – 79.02 during the correction, short trades can be opened with the target at the May 24 low.
If the price pierces resistance (A) today, the correction will continue to resistance (B) 80.97 – 80.52. This zone acts as the trend boundary. Therefore, consider selling oil from this zone with the target at the May 24 low.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 79.32 – 79.02. TakeProfit: 76.12. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 80.97 – 80.52. TakeProfit: 76.12. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in a short-term downtrend. Yesterday, the price moved within the upward correction. If the correction continues today, the price may test resistance (A) 2380 – 2375. Once this area is reached, consider new short trades with the target at the May 24 low.
If the XAUUSD price declines today, it may plunge below the May 24 low and consolidate below this level. In this case, the next selling target will be within the lower Target Zone 2300 – 2285.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 2380 – 2375. TakeProfit: 2327. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 2407 – 2400. TakeProfit: 2327. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is rising within a short-term uptrend. The growth target is at the May high. Once the price hits the high, the next bullish target will be the Gold Zone 1.0945 – 1.0937. Today, it is beneficial to hold purchases opened near support (A) 1.0811 – 1.0802 at the breakeven point.
The pair should break through support (B) 1.0769 – 1.0756 and settle below this zone to reverse the current trend and create selling opportunities.
EURUSD trading ideas for today:
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Hold up purchases at support (A) 1.0811 – 1.0802. TakeProfit: 1.0895. StopLoss: at the breakeven.
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Buy according to the pattern at support (B) 1.0769 – 1.0756. TakeProfit: 1.0895. 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.
