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.
Gold short-term uptrend continued yesterday.
The article covers the following subjects:
Contents
Oil price forecast for today: USCrude analysis
The oil price has been corrected up to the key resistance of the short-term downtrend 76.03 – 75.50. Market participants are trying to break out this zone. If the key resistance is broken out, the oil trend will turn up. In this case, one could buy oil with a target in the upper Target Zone 81.80 – 80.75.
If the key resistance is held down, and there is a sell pattern, it will be relevant to sell with a target at the low of December 9. In this case, the short-term downtrend will continue.
USCrude trading ideas for today:
Sell according to the pattern at resistance (В) 76.03 – 75.50. TakeProfit: 70.33. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The gold short-term uptrend continued yesterday. The price broke through the high of December 5. The Target Zone 1816 – 1807 was tested, but it has not been broken out. The price could be corrected down to support (А) 1793 – 1789.
After the support (A) is tested, one could consider buying gold with a target at yesterday’s high.
If the Target Zone is broken out, the next upside target will be the Gold Zone 1839 – 1836.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 1793 – 1789. TakeProfit: 1824. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1777 – 1772. TakeProfit: 1824. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-term uptrend continued yesterday. The price broke through the high of December 5 and broke out the upper Target Zone 1.0572 – 1.0540. The next upside target is the Gold Zone 1.0715 – 1.0699.
I recommend entering long trades on the correction after the test of strong support levels, such as support (A) 1.0567 – 1.0556 and support (B) 1.0514 – 1.0498. The latter zone is the border of the uptrend. To enter a purchase, one needs a reversal pattern. The first upside target is around yesterday’s high.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0567 – 1.0556. TakeProfit: 1.0670. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 1.0514 – 1.0498. TakeProfit: 1.0670. 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.
