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Writer's pictureSterling Summit Investment

Short-term analysis for oil, gold, and EURUSD

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.

The euro price is testing the Target Zone 1.1880 - 1.1864.

The article covers the following subjects:

  • Oil price forecast for today: USCrude analysis

  • Gold price forecast for today: XAUUSD analysis

  • Euro/Dollar forecast for today: EURUSD analysis


Oil price forecast for today: USCrude analysis

Yesterday oil traders tested the short-term downtrend's key resistance 60.45 - 60.20. The price didn't break out the zone. A subsequent decline can be observed. Also, yesterday a "false breakout" pattern for oil sales was formed.

Today, it is reasonable to enter sales according to the pattern in the level of 60.06 with a stop beyond yesterday's high. The target of the price fall will be levels 58.00 and 57.35.

If the price updates yesterday's high, there will be a risk of the short-term downtrend's reversal. In this case, buy oil with the target at the upper Target Zone 63.26 - 62.75.


USCrude trading ideas for today:

Hold up sales entered in the zone of 59.42 - 60.45. TakeProfit: 57.35. StopLoss: 61.00

Gold price forecast for today: XAUUSD analysis

The gold price continues its rise with a target in the Gold Zone 1755 - 1752. There is a 70% probability that the Gold Zone will be reached.

Therefore, today, look for new purchases at strong supports. The nearest support is the level of 1737. The technical border of the uptrend is at the level of 1730. Look for buy signals at these levels. It would be reasonable to take a part of profits at the level of 1745.

For gold sales, it is required to break out the level of 1730 and consolidate the price below. This will make a price fall to the Intermediary Zone 1720 - 1717 possible.


XAUUSD trading ideas for today:

  1. Buy according to the pattern in the level of 1737. TakeProfit: 1745. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in the level of 1730. TakeProfit: 1745. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis

The euro price is testing the Target Zone 1.1880 - 1.1864. If traders manage to consolidate the price above the zone at the US trading session, then the next growth target will be the Gold Zone 1.1952 - 1.1944.

If the resistance is held, then a correction will begin. In this case, wait for reaching the supports, which are level 1.1860 and the Additional Zone 1.1842 - 1.1838. Look for new EUR/USD purchases with a target at the day's high at the abovementioned levels.

If the Additional Zone is broken out, then the correction will go into a deep phase with the target at the trend border 1.1802.


EURUSD trading ideas for today:

  1. Buy according to the pattern in the level of 1.1860. TakeProfit: 1.1881. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Additional Zone 1.1842 - 1.1838. TakeProfit: 1.1881. StopLoss: according to the pattern rules.

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

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