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Hello fellow traders! I have prepared price forecasts for US Crude Oil, GOLD/USD and EUR/USD using a combination of margin zones methodology and technical analysis. Based on market analysis, I suggest entry signals for intraday traders.
Gold is trading in an upward correction.
The article covers the following topics:
Oil price forecasts today: US crude oil analysis
Oil price continues to rise and is now testing the target area 82.34 – 81.44. Once the price breaks this zone, the next upside target will be the gold area 84.75 – 84.45. If the bulls can keep the price in the target zone, prices will start correcting.
If the correction continues, the price is likely to reach the support level (A) 78.88 – 78.59. After that, one can consider buying trades according to the pattern with the target at the high of the day.
US crude oil Trading ideas for today:
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Buy according to the pattern at support level (A) 78.88 – 78.59. Take profit: 81.84. Stop loss: according to the pattern rules.
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Buy according to the pattern at support level (B) 77.40 – 76.95. Take Profit: 81.84. Stop loss: according to the rules of the model.
Gold forecast for today: XAUUSD analysis
Gold is trading in an upward correction. The short-term trend remains bearish. If the correction continues, the price may test the resistance level (B) 2369 – 2361 again. Once the asset tests this zone, one can consider short trades as per the pattern with the target at the low of June 26.
If the gold price breaks through the resistance level (B) and closes above this area in the US trading session, the downtrend may reverse in the short term. In this regard, consider long trades with the target within the upper target area 2451 – 2436, starting from the next trading day.
HowUSD Trading ideas for today:
Sell according to the model at resistance (B) 2369 – 2361. Take profit: 2295. Stop loss: according to the rules of the model.
EUR/USD forecast for today: EUR/USD analysis
The EUR/USD price started correcting after reaching the key bearish target on June 26. If the correction continues, the price may test the resistance level (A) 1.0758 – 1.0750. After that, one can consider short trades with targets at 1.0712 – 1.0666.
The short-term trend remains bearish. The price is likely to reach below the June 26 low and break through the target area 1.0664 – 1.0638. If the asset consolidates below this area, the next downside target will be the gold area 1.0580 – 1.0571.
Euro vs US Dollar Trading Ideas for Today:
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Sell according to the pattern at the resistance level (A) 1.0758 – 1.0750. Take profit: 1.0712, 1.0666. Stop loss: according to the pattern rules.
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Sell according to the pattern at resistance level (B) 1.0804 – 1.0792. Take Profit: 1.0666. Stop loss: according to the rules of the model.
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XAUUSD 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.
