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Hello fellow traders! I have created price forecasts for USCrude, XAUUSD and EURUSD using a combination of margin zone methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Gold continues to maintain a short-term downtrend.
The article covers the following topics:
Oil Price Forecast Today: US Crude Analysis
The price is trying to break the target area 82.34 – 81.44 in the short-term uptrend. If successful, the next upside target will be the gold area 84.75 – 84.45. Therefore, consider buying trades on the correction at strong support (A) 79.33 – 79.03 and support (B) 77.84 – 77.40. The main upside target will be the top of June 28.
The price should break through the 77.40 level to allow traders to open sell positions. In this case, the short-term uptrend will reverse.
US crude oil Trading ideas for the day:
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Buy according to the pattern at support level (A) 79.33 – 79.03. Take profit: 82.24. Stop loss: according to the pattern rules.
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Buy according to the pattern at support (B) 77.84 – 77.40. Take profit: 82.24. Stop loss: according to the pattern rules.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to maintain a short-term downtrend. Sell trades opened at resistance level (B) 2369 – 2361 and made profits last week. As a result, the price reached the target zone 2300 – 2285, and now prices are growing in correction. If the asset continues to rise, resistance (B) 2369 – 2361 may be tested again. Once the price breaks the resistance level, the short-term downtrend will reverse.
If the asset declines during this week and reaches below the low of June 7, the price is likely to break the target area of 2300 – 2285. In this case, the next downside target will be the gold area of 2250 – 2245.
HowUSD Trading ideas for today:
Watch the market.
EUR/USD Forecast for Today: EUR/USD Analysis
The Euro is correcting within the short-term downtrend, and currently, it is breaching the resistance level (A) 1.0758 – 1.0750. If the correction continues, the asset is likely to reach the resistance level (B) 1.0804 – 1.0792, which is the trend limit. Hence, consider short trades near this area with the main target at the June 26 low.
If the price returns below 1.0750, a sell pattern will be formed. In this case, consider short trades with the first target near 1.0712 and the second target at the low of June 26.
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: 1.0712, 1.0666. StopLoss: According to the rules of the pattern.
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Sell according to the pattern at resistance (В) 1.0804 – 1.0792. Take Profit: 1.0666. StopLoss: According to the rules of the pattern.
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XAUUSD price chart in current situation
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.
