Hello fellow traders! I have prepared price forecasts for the US crude, XAU/USD and EUR/USD pairs using a combination of margin zone methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Oil reached resistance level (A) 74.98 – 74.65.
The article covers the following topics:
Key points and highlights
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US Crude Oil: Oil is trading in an upward correction. The asset has reached the resistance level (A) 74.98 – 74.65. Short trades can be considered near this area.
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Gold vs USD: Gold is trying to break the target area 2529 – 2514 within a short-term uptrend. If the price breaks this area, the next upside target will be the gold area 2569 – 2564.
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EURUSD: The euro reached target area 2, 1.1214 – 1.1197, within a short-term uptrend. If the asset breaks this area, the next upside target will be 1.1289 – 1.1281.
Oil Price Forecast Today: US Crude Analysis
oil The price reached the resistance level (A) 74.98 – 74.65 on Monday. However, the short-term trend is still bearish. Therefore, if the bears manage to keep the price below the resistance level (A), one may consider short trades with the first target 73.16 and the second 71.35.
If the stock breaks resistance level (A) from below today, the correction will continue to resistance level (B) 76.79 – 76.30. Consider short trades in this area with the main target 71.35.
US Crude Oil Trading Ideas for Today:
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Sell according to the pattern at resistance level (A) 74.98 – 74.65. Take profit: 73.16, 71.35. Stop loss: according to the pattern rules.
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Sell according to the pattern at resistance level (B) 76.79 – 76.30. Take profit: 71.35. Stop loss: according to the pattern rules.
Gold Forecast Today: Gold/USD Analysis
gold Gold is trying to break the target area 2529 – 2514 within a short-term uptrend. If the asset breaks this area, the next upside target will be the gold area 2569 – 2564. If the price remains below the target area, the prices will drop to the low of August 22.
Last week, the price corrected to the strong support (A) 2481 – 2476, and traders can open buy trades in that area with targets 2504 and 2531. As a result, the asset reached its first target. Therefore, consider holding open buys until the price reaches 2531 today.
XAUUSD Trading Ideas for Today:
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Hold long trades open at support level (A) 2481 – 2476. Take profit: 2531. Stop loss: at breakeven point.
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Buy according to the pattern at support (B) 2456 – 2449. Take profit: 2531. Stop loss: according to the pattern rules.
EUR/USD Forecast for Today: EUR/USD Analysis
Last week, euro The price reached the upper target area 2, 1.1214 – 1.1197, but now the price is still below this area. If buy deals are opened, a downward correction may start. The correction target will be support (A) 1.1117 – 1.1109 or support (B) 1.1075 – 1.1063. If the price reaches these levels, consider buying deals at favorable prices with the main target at today’s high.
In case the asset breaks and holds above Target 2 today, the next upside target will be Gold Zone 2, 1.1289 – 1.1281.
EUR/USD Trading Ideas Today:
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Buy according to the pattern at support level (A) 1.1117 – 1.1109. Take profit: 1.1200. Stop loss: according to the rules of the pattern.
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Buy according to the pattern at support level (b) 1.1075 – 1.1063. Take profit: 1.1200. Stop loss: according to the pattern rules.
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USCRUDE Real Time Price Chart
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