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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, EURUSD updated its February 22 low.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price updated its February 22 high, reaching the level of 79.21. After this, the price corrected. If the correction continues today, expect oil in the support (A) 75.96 – 75.63. After testing this support, consider new purchases according to the pattern with a target at 79.21.
If, during trading, the level of 79.21 is broken upside, the next growth target will be the Target Zone 82.34 – 81.35.
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 still trading in correction to the short-term downtrend. The price is approaching the trend border of 2052 – 2046. After testing this zone, consider sales according to the pattern with a target of 1985.
If the resistance 2052 – 2046 is broken out upside and the price consolidates higher, 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
Yesterday, EURUSD updated its February 22 low. However, traders were unable to break out support (A) 1.0804 – 1.0796. The zone was held. Thus, in this zone, traders can consider purchases using a pattern with a target at February 22 high. If this high is updated, the next target for purchases will be the upper Target Zone 1.0972 – 1.0946.
If, during trading, traders do not form a buy pattern, the price will continue a corrective decline with the target at support (B) 1.0762 – 1.0749. This zone serves as the trend border. After the price reaches it, consider purchases with a target at February 22 high.
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 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.
