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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 is falling within a short-term downtrend.
The article covers the following topics:
Oil price forecasts for today: US crude analysis
Oil continues to trade in a short-term uptrend. The growth target is the target area 82.34 – 81.44. Once the price reaches this zone, oil may begin a downward correction.
If the correction starts from the current levels, prices may fall to the support area (A) 78.07 – 77.77. In this regard, consider buying trades in this area with the aim of reaching the June 19 high.
The trend limits shift to 76.57 – 76.12.
American crude Trading ideas for today:
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Buy as per the pattern at support (A) 78.07 – 77.77. Take profit: 81.02. StopLoss: According to the rules of the pattern.
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Buy as per the pattern at support (B) 76.57 – 76.12. Take profit: 81.02. StopLoss: According to the rules of the pattern.
Gold forecast for today: XAUUSD analysis
Gold continues to maintain a correction within the short-term downtrend, targeting the test of resistance (B) 2369 – 2361. Once gold reaches this area, sell deals can be considered in this area with the first target 2327 and the second target in the area. Area 2286.
If gold breaks and settles above the resistance level (B) today, the short-term downtrend will turn into an uptrend. In this case, consider long trades with the target within the upper target area 2451 – 2436.
HowUSD Trading ideas for today:
Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: 2327, 2286. StopLoss: according to the rules of the pattern.
EUR/USD forecast for today: EUR/USD analysis
Yesterday, the EUR/USD pair failed to breach the resistance level (A) 1.0760 – 1.0793. As a result, the price falls within a short-term downtrend. The first downside target is 1.0714 and the second target is the June 14th low. If the euro falls below the June 14 low, the price may break out of the target area 1.0664 – 1.0638. If so, the next downside target will be located within the golden zone 1.0580 – 1.0571.
The alternative scenario suggests that if the bulls can break through the resistance level (A) and consolidate above this area, the price may reach the resistance level (B) 1.0806 – 1.0793. This area provides trend boundaries, and you can also consider selling the Euro in it.
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: 1.0714, 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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EURUSD price chart in real time mode
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