I welcome my fellow traders! I have made a price forecast for the USCrude, 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 part of the correction to the short-term uptrend, gold has reached the key support of 2026 – 2019.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
After the short-term trend reversed down last week, the oil price corrected in the new trend’s key resistance zone of 74.81 – 74.31. Resistance is currently held by sellers. Thus, entering sales with the first target at January 3 low is relevant.
If the price consolidates below the low of January 3, the fall will continue with the target in the lower Target Zone of 66.31 – 65.32.
To buy oil, traders need to break out the zone of 74.81 – 74.31 and consolidate the price higher. In this case, the trend will again reverse up.
USCrude trading ideas for today:
Sell according to the pattern at support (В) 74.81 – 74.31. TakeProfit: 69.71. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
As part of the correction to the short-term uptrend, gold has reached the key support of 2026 – 2019. The zone has not been broken out, so consider new purchases in it with a target at December 28 high.
If, during trading, market participants break out support (B) 2026 – 2019, the short-term trend reverses down. In this case, consider sales with a target in the lower Target Zone 1963 – 1951.
XAUUSD trading ideas for today:
Buy according to the pattern at support (В) 2026 – 2019. TakeProfit: 2088. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Last Friday, the euro rose and tested resistance (B) 1.1015 – 1.1002. This zone serves as the border of a short-term downtrend. Therefore, it is possible to consider euro sales in it with a target in the lower Target Zone 1.0887 – 1.0862.
If, during trading, the price breaks out of the lower Target Zone and consolidates below, the next sales target within the trend will be the Gold Zone 1.0803 – 1.0795.
To enter purchases, market participants need to break out resistance (B) and consolidate the price higher in the American trading session.
EURUSD trading ideas for today:
Sell according to the pattern at support (В) 1.1015 – 1.1002. TakeProfit: Target Zone 1.0887 – 1.0862. StopLoss: according to the pattern rules.
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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 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.
منبع: https://www.litefinance.org/blog/analysts-opinions/short-term-analysis-for-oil-gold-and-eurusd-for-08012023/
