2023.07.04 2023.07.04
Short-term analysis for oil, gold, and EURUSD for 04.07.2023Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/
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 is being corrected up in the short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price rolled down from resistance (В) 71.91 – 71.48 yesterday. The downside target for sell trades entered at resistance (B) is the low of June 28. If this low is broken through, the price should break out level 66.95. If so, the downtrend will continue, and the next downside target will be the lower Target Zone 63.99 – 63.12.
If yesterday’s high is broken through, the price will break out resistance (B). In this case, one could open purchases with a target of 74.30.
USCrude trading ideas for today:
Sell according to the pattern at resistance (В) 71.91 – 71.48. TakeProfit: 67.20. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is being corrected up in the short-term downtrend. The correction could drive the price up to resistance (А) 1940 – 1936, where one could enter new sell trades according to the pattern in the downtrend. The first downside target will be the low of June 29. The second target will be the lower Target Zone 1873 – 1864.
If the price breaks out resistance (A), it will go up to resistance (В) 1963 – 1956. This is the trend border, so one could enter sell trades there.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1940 – 1936. TakeProfit: 1893. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 1963 – 1956. TakeProfit: 1893. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Euro is trading above the key support to the short-term uptrend 1.0867 – 1.0853. It is relevant to buy with a target at the high of June 27. If this high is broken through, the next upside target will be the high of June 22. If the latter high is exceeded by the price, the Target Zone 1.0984 – 1.0953 will be broken out, and the price will reach the Gold Zone 1.1058 – 1.1049.
If the price goes below the low of June 30 and consolidates, the short-term trend will turn down. If so, one could sell the euro with a target at the lower Target Zone 1.0723 – 1.0695.
EURUSD trading ideas for today:
Buy according to the pattern at support (В) 1.0867 – 1.0853. TakeProfit: 1.1010. 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.
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