Technical analysis for USCrude, XAUUSD, and EURUSD today (23 January 2024)


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.

The oil price is trying to move up from the range of 74.81 – 70.76.

The article covers the following subjects:

Contents

Oil price forecast for today: USCrude analysis

The oil price is trying to move up from the range of 74.81 – 70.76. Yesterday, traders updated January 12 high but could not consolidate the price above the resistance of 74.81. If today the price consolidates above the level of 74.81, then consider purchases with a target in the upper Target Zone of 80.25 – 79.26.

If, during trading, the price returns below the resistance of 74.81 – 74.31, then consider sales in the lower border of the range 71.26 – 70.76.

USCrude trading ideas for today:

  1. Buy according to the pattern at support 71.26 – 70.76. TakeProfit: Resistance (В) 74.81 – 74.31. StopLoss: according to the pattern rules.

  2. Sell according to the pattern at resistance (В) 74.81 – 74.31. TakeProfit: Support 71.26 – 70.76. StopLoss: according to the pattern rules.


Gold forecast for today: XAUUSD analysis

Gold is correcting to the short-term downtrend and approaching resistance (A) 2047 – 2043. After testing this resistance, consider new sales with a target at January 17 low. If this low is updated, the next target of the fall will be the lower Target Zone 1963 – 1951.

If, during trading, traders break out resistance (A), then expect a continuation of the correction with a target at resistance (B) 2070 – 2064. You can also consider sales from this trend border.

XAUUSD trading ideas for today:

  1. Sell according to the pattern at resistance (A) 2047 – 2043. TakeProfit: 2003. StopLoss: according to the pattern rules.

  2. Sell according to the pattern at resistance (В) 2070 – 2064. TakeProfit: 2003. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The euro is correcting to the short-term downward trend and is approaching resistance (A) 1.0936 – 1.0928. After testing this resistance, consider short trades with a target at January 17 low. If this low is updated, the next target of the fall within the trend will be the Gold Zone 1.0803 – 1.0795.

If, as a result of trading, resistance (A) is broken out upside, then expect a continuation of the correction with the target at resistance (B) 1.0983 – 1.0970. You can also consider sales in this zone because it serves as the trend's border.

EURUSD trading ideas for today:

  1. Sell according to the pattern at resistance (A) 1.0936 – 1.0928. TakeProfit: 1.0847. StopLoss: according to the pattern rules.

  2. Sell according to the pattern at resistance (В) 1.0983 – 1.0970. TakeProfit: 1.0847. StopLoss: according to the pattern rules.


P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I'll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex

Price chart of USCRUDE 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.

Rate this article:

{{value}} ( {{count}} {{title}} )





Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top