I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The EURUSD continues trading in the short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Last Friday, the trades entered at the key support of the short-term uptrend 69.44 – 69.01 yileded profits. The price broke through the high of May 17 and tested Target Zone 73.53 – 72.66. After reaching the Target Zone, the price has been corrected down.
The correction target is the key support of the short-term uptrend. If this zone is held up by the buyers and the price draws a buy pattern, one could enter a long trade with a target at the high of May 19.
If the price breaks out level 69.01 and consolidates below, the trend will turn down. In this case, one could enter a short trade with a target in the lower Target Zone 65.09 – 64.22.
USCrude trading ideas for today:
Monitor the market.
Gold forecast for today: XAUUSD analysis
The gold price has been corrected up after it reached the Target Zone 1956 – 1943. The short-term trend remains down. After resistance (A) 1997 – 1993 is tested, one could enter new sell trades with a target at the low of May 18.
If resistance (A) is broken out, the price should reach resistance (В) 2020 – 2014. This is the trend border, so one could also enter short tardes in the second resistance zone.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1997 – 1993. TakeProfit: 1953. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 2020 – 2014. TakeProfit: 1953. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-term downtrend continues. Last week, the price reached Target Zone 1.0773 – 1.0741. Next, speculators exited sell trades and entered purchases. The price has been corrected up.
The price could reach resistance (А) 1.0876 – 1.0865, where one could enter new sell trades according to the pattern with a target at the low of May 19.
If the price breaks out resistance (A), it should reach the trend border 1.0934 – 1.0918, where it is also relevant to sell.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1.0876 – 1.0865. TakeProfit: 1.0762. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 1.0934 – 1.0918. TakeProfit: 1.0762. StopLoss: according to the pattern rules.
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Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion 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 the provision of investment advice for the purposes of Directive 2004/39/EC.