Trading

Technical analysis for US Crude, XAUUSD, and EURUSD today (20 July 2021)

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.

Yesterday, the gold price was approaching level 1792 which serves as the technical border of the uptrend.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Oil is recovering slightly from the recent drop. Now traders are testing the Additional Zone 66.98 – 66.82. If the zone is broken out, then the correction will continue with the target in the Intermediary Zone 68.41 – 68.14.

If the Additional Zone is held today, then look for a sell pattern in order to update yesterday’s low. After updating yesterday’s low, the target for sales will be Target Zone 2 64.33 – 63.80.

USCrude trading ideas for today:

Sell according to the pattern in Additional Zone 66.98 – 66.82. TakeProfit: 65.53. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis 

Yesterday, the gold price was approaching level 1792 which serves as the technical border of the uptrend. Sellers failed to update the July 12 low and test level 1792. Instead, the price rose and reached the key resistance of 1819-1817.

Today one should watch the trading activity after the test of the zone of 1819 – 1817. If a sell pattern is formed, it will be relevant to enter sales with the target at level 1792. If the zone is broken out, it will be possible to consider purchases up to the upper Target Zone 1844 – 1840.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Intermediary Zone 1819 – 1817. TakeProfit: 1792. StopLoss: according to the pattern rules.

  2. Buy when the Intermediary Zone 1819 – 1817 is broken out. TakeProfit: Target Zone 1844 – 1840. StopLoss: beyond the local low.


Euro/Dollar forecast for today: EURUSD analysis 

A short-term euro downtrend continued yesterday. As a result, the zone between level 1.1770 and the Intermediary Zone 1.1762 was reached. This was followed by a strong upward rollback, within which the Additional Zone 1.1812 – 1.1807 was tested.

The price didn’t break out the Additional Zone. At the close of the American trading session and today at the Asian trading session, the downtrend continued. Today it is profitable to look for sales according to the pattern. The target is level 1.1770.

If there is no sell pattern and the price breaks out the Additional Zone, then it will be possible to enter purchases with a target in the Intermediary Zone 1.1860 – 1.1851.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1812 – 1.1807. TakeProfit: 1.1770. StopLoss: according to the pattern rules.

  2. Buy when level 1.1812 is broken out. TakeProfit: Intermediary Zone 1.1860 – 1.1851. StopLoss: 1.1809


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Price chart of XAUUSD 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.

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