2023.07.11 2023.07.11
Short-term analysis for oil, gold, and EURUSD for 11.07.2023Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/
Hello, my fellow traders! Here’s my forecast for US Crude, XAUUSD, and EURUSD made using margin zones and classical technical analysis. Based on this analysis, I made a list of entry signals for intraday traders.
Euro traders broke out the Target Zone 1.0985 – 1.0953 yesterday.
The article covers the following subjects:
Oil Forecast for today: USCrude analysis
The oil price cannot break out the upper boundary of the 74.30 – 73.26 flat channel, so we can consider shorts from that area with a target at 67.65 – 66.95, the lower boundary. For a selling pattern, the price must break out yesterday’s daily low.
If the level 74.30 is broken to the upside, the alternative “buy” scenario will play out. In that case, the price can rise to the upper Target Zone 76.70 – 75.83. Long trades can be opened on corrections from strong support zones.
Trading plan for USCrude for today:
Sell according to the pattern from 74.30 – 73.26. TakeProfit: 67.65. StopLoss: according to pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues trading in a correction of a short-term downtrend. Resistance (А) 1938 – 1934 prevents the price from growing. As long as the price is below that zone, we can short the asset with a target at 29 June’s low.
If the resistance (А) is broken to the upside, the correction will continue with a target at resistance (В) 1961 – 1955. Upon reaching it, consider shorts with a target at 29 June’s low.
To buy gold and reverse the trend, traders have to break through the level of 1961 and consolidate above.
Trading plan for XAUUSD for today:
Sell according to the pattern near resistance (А) 1938 – 1934. TakeProfit: 1893. StopLoss: according to pattern rules.
Sell according to the pattern near resistance (B) 1961 – 1955. TakeProfit: 1893. StopLoss: according to pattern rules.
Today’s forecast for the EURUSD: EURUSD analysis
Euro traders broke out the Target Zone 1.0985 – 1.0953 yesterday, so longs from support (В) 1.0867 – 1.0853 worked out. The next growth target within a short-term uptrend is the Gold Zone 1.1058 – 1.1049. Once it’s reached, take a pause and check out the sellers’ reaction after testing.
If the Gold Zone isn’t broken out, the price will correct with a target at the nearest supports. If the Gold Zone is broken out to the upside, the next growth target will be Target Zone 2, 1.1164 – 1.1145.
Trading plan for EURUSD for today:
Buy according to the pattern from support (А) 1.0926 – 1.0916. TakeProfit: 1.1020. StopLoss: according to pattern rules.
Buy according to the pattern from support (В) 1.0878 – 1.0863. TakeProfit: 1.1020. StopLoss: according to 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.
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