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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.
I opened short trades at resistance level (A) 1.0760 – 1.0751 and made profits yesterday.
The article covers the following topics:
Oil price forecasts for today: US crude analysis
Oil prices are trading below the target zone 82.34 – 81.44. Therefore, the price may continue its downward correction targeting the support level (A) 78.68 – 78.38. Once the asset tests this zone, one can consider buy trades with the target at the June 25 high. If the price breaks the support level (A), the correction may continue to the support area (B) 77.20 – 76.75. Consider long trades in this area, which is the trend boundary.
If the oil price reaches and consolidates above the high recorded on June 25, the next upside target could be the gold area 84.75 – 84.45.
American crude Trading ideas for today:
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Buy as per the pattern at support (A) 78.68 – 78.38. Take profit: 81.60. StopLoss: According to the rules of the pattern.
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Buy by pattern at support (B) 77.20 – 76.75. Take Profit: 81.60. StopLoss: According to pattern rules.
Gold forecast for today: XAUUSD analysis
Gold maintains a short-term downtrend. The price fell and reached the target zone 2300 – 2285. If the asset breaks this zone, the next downside target will be the gold zone 2250 – 2245. In this regard, consider short trades on the correction.
If the bulls keep the price above the target area, the price may rise, and the key resistance 2369 – 2361 may be tested again. In this case, consider short trades according to the pattern near key resistance. Open sell trades at resistance levels 2369 – 2361 can be closed at current prices.
HowUSD Trading ideas for today:
Watch the market.
EUR/USD forecast for today: EUR/USD analysis
I opened short trades at resistance level (A) 1.0760 – 1.0751 and made profits yesterday. As a result, the price reached below the June 14 low. The price tested the target area 1.0664 – 1.0638, and the bulls were able to push the price higher. If this growth turns into an upward correction, the asset may test a new resistance (A) at 1.0758 – 1.0750. Once the price tests the resistance (A), one can consider short trades targeting the June 26 low.
If the price breaks through the target zone and closes below this zone in the US trading session, the next downside target will be the gold area 1.0580 – 1.0571.
Euro against the US dollar Trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0758 – 1.0750. Take profit: 1.0669. StopLoss: According to the rules of the pattern.
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Sell according to the pattern at resistance (B) 1.0804 – 1.0792. Take profit: 1.0669. StopLoss: According to the rules of the pattern.
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EURUSD 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.
