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Welcome fellow traders! I have created USCrude, XAUUSD and EURUSD price forecasts using a combination of margin zones methodology and technical analysis. Based on market analysis, I suggest entry signals for intraday traders.
The Euro was correcting yesterday.
The article covers the following topics:
Oil price forecasts for today: US crude analysis
Oil continues to trade in a short-term uptrend. Yesterday, prices surpassed the highest level recorded on June 12. Today, the price has dropped slightly. If the asset reaches support level (A) 76.92 – 76.62 within the correction, consider buying trades in this area targeting yesterday’s high.
If oil continues to rise today, the upside target will be within the target area 82.34 – 81.44. It is worth noting that if the price exceeds the highest level recorded yesterday, the strong support areas will turn into new levels.
American crude Trading ideas for today:
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Buy as per the pattern at support (A) 76.92 – 76.62. Take profit: 79.85. StopLoss: According to the rules of the pattern.
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Buy as per the pattern at support (B) 75.42 – 74.97. Take profit: 79.85. StopLoss: According to the rules of the pattern.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in a short-term downtrend. The target is the low of June 10. If the price settles below this level, the next selling target will be the golden zone 2250 – 2245.
Conversely, prices may begin a deep correction, breaking the June 12 high and consolidating above this level. In this case, the correction will continue until the resistance level (B) 2369 – 2361. This area is the trend boundary, where you can also consider selling the instrument.
HowUSD Trading ideas for today:
Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: 2327, 2300. StopLoss: according to the rules of the pattern.
EUR/USD forecast for today: EUR/USD analysis
The euro corrected yesterday to the resistance level (A) 1.0760 – 1.0751. Today, the pair reached this area with a margin of error. Right now, the bears are taking action in the market. In this regard, if the price rises to the resistance level (A) again, consider short trades with the target at the low of June 14.
If the pair breaks the resistance level (A) and consolidates above this area, the correction will continue to the resistance level (B) 1.0806 – 1.0793. This area provides the boundaries of a short-term downtrend. Consider selling the euro in this area according to the pattern with the main target near the June 14 low.
Euro against the US dollar Trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0760 – 1.0751. Take profit: 1.0670. StopLoss: According to the rules of the pattern.
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Sell according to the pattern at resistance (B) 1.0806 – 1.0793. Take profit: 1.0670. StopLoss: According to the rules of the pattern.
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EUR/USD price chart in real time mode
The content of this article reflects the opinion of the author 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 providing investment advice for the purposes of Directive 2004/39/EC.
