2023.06.20 2023.06.20
Short-term analysis for oil, gold, and EURUSD for 20.06.2023Alex 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.
The gold short-term downtrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil continues trading in the short-term downtrend. The price was testing the trend border 71.72 – 71.29 yesterday. The zone was not broken out. Therefore, one could enter new sell trades around the resistance zone or hold down the existing ones.
The first downside target will be the low of June 12. The second sell target is the lower Target Zone 65.61 – 64.74.
It will be relevant to buy when the oil short-term trend turns up in case the price breaks through yesterday’s high and consolidates above.
USCrude trading ideas for today:
Sell according to the pattern at resistance (В) 71.72 – 71.29. TakeProfit: 67.00. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term downtrend continues. The price is falling down from resistance (А) 1970 – 1966. The downside target is the low of June 15. When the price goes below this low, the next target will be the Gold Zone 1916 – 1912.
If resistance (A) is broken out, the correction will continue up to resistance (В) 1993 – 1986. One could also enter sell trades in the second resistance zone as it is the trend border.
XAUUSD trading ideas for today:
Hold down sell trades entered at resistance (А) 1970 – 1966. TakeProfit: 1925. StopLoss: 1969.
Sell according to the pattern at resistance (В) 1993 – 1986. TakeProfit: 1925. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD is being corrected down in the short-term uptrend. The correction target could be support (A) 1.0874 – 1.0865. When this support is reached, one could enter new purchases in the trend. The upside target is the high of June 16.
If the high of June 16 is broken through, the price should break out Target Zone 1.0984 – 1.0953. The next target in this case will be the Gold Zone 1.1058 – 1.1049.
The trend border is in the zone of 1.0826 – 1.0812.
EURUSD trading ideas for today:
Buy according to the pattern at support (А) 1.0874 – 1.0865. TakeProfit: 1.0970. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 1.0826 – 1.0812. TakeProfit: 1.0970. 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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