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.
On Tuesday morning, the bearish euro trend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, the oil price corrected. The traders tested the Additional Zone 90.23 – 90.07 but didn’t break it out. The US trading session closed the price higher. So, today, a short-term uptrend continues with a target at February 4 high.
Today look for oil purchases with the target indicated above. If the February 4 high is broken out, the next buy target will be the Target Zone 3 94.54 – 93.95.
If today during the trading session the Additional Zone is broken out downside, the correction will continue with the target in the Intermediary Zone 88.69 – 88.38.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 90.23 – 90.07. TakeProfit: 91.75. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone 88.69 – 88.38. TakeProfit: 91.75. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
Yesterday, gold broke out the Target Zone 1813 – 1810. The next target for purchases is the Gold Zone 1826 – 1825. At the moment, the price is correcting. A possible correction target is a test of the Additional Zone 1816 – 1815. After the test of the AZ, look for new purchases with the first target at yesterday’s high.
If the AZ is broken out downside during the trading session, the correction will continue with the target in the Intermediary Zone 1808 – 1807. The IZ serves as the border of a short-term uptrend, so look for purchases in it as well.
XAUUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1816 – 1815. TakeProfit: 1823. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
On Tuesday morning, the bearish euro trend continues. The pair is declining. The target of the price fall is the February 4 low and a test of the Intermediary Zone 1.1395 – 1.1386. The IZ serves as the border of a short-term uptrend. After reaching it, look for a buy pattern with a target at February 4 high.
To enter euro sales and reverse the trend, it is required to break out the IZ and consolidate the price below at the US trading session. In this case, from the next trading day, consider euro sales with the target in the lower Target Zone 1.1307 – 1.1290.
EURUSD trading ideas for today:
Hold sell trades entered in Additional Zone 1.1460 – 1.1455. TakeProfit: 1.1412. StopLoss: 1.1478.
Buy according to the pattern in Intermediary Zone 1.1395 – 1.1386. TakeProfit: 1.1482. 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 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.