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.
As a part of the euro correction, the players broke out the Additional Zone 1.1820 – 1.1816.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, the Additional Zone 73.60 – 73.47 yielded profits within a short-term uptrend. As a result, buyers tried to break out the resistance level of 74.77 but failed.
After that, the price reversed down and the support level of 72.55 was broken out. Now traders are trying to break out the Intermediary Zone 72.28 – 72.02.
Based on the available data according to the margin zones methodology, today it is profitable to consider oil sales with a target at the day’s low. A good price zone to enter sales is Additional Zone 72.98 – 72.85. If during trading the low is updated, then the Additional Zone will move lower.
USCrude trading ideas for today:
Sell according to the pattern in Additional Zone 72.98 – 72.85. TakeProfit: 71.56. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, gold updated its July 8 high and broke out the Gold Zone 1820-1818. The next buy target is Target Zone 2 1845-1840.
It is reasonable to consider new gold purchases on the correction at the Additional Zone 1821 – 1820 or the Intermediary Zone 1810 – 1807. A pattern is required for purchases.
For sales, a reversal pattern is required, which is not expected to appear at the moment.
XAUUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1821 – 1820. TakeProfit: 1832. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone 1810 – 1807. TakeProfit: 1832. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
As a part of the euro correction, the players broke out the Additional Zone 1.1820 – 1.1816. Now the price is expected to rise to the trend key resistance 1.1879 – 1.1860.
Based on these data, it is possible to consider euro purchases in correction. Favorable purchase prices will be in the new Additional Zone 1.1802 – 1.1798.
If the price reaches the border of the short-term downtrend without corrections, then start looking for sales as long as level 1.1879 is held.
EURUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1.1802 – 1.1798. TakeProfit: 1.1860. StopLoss: according to the pattern rules.
Sell according to the pattern in the zone of 1.1879 – 1.1860. TakeProfit: 1.1773. 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 LiteForex. 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.