Quick-term evaluation for oil, gold, and EURUSD for 23.07.2021


Short-term analysis for oil, gold, and EURUSD for 23.07.20212021-07-23 2021-07-23 Alex Rodionovlogo2021-07-23 2021-07-23 Short-term analysis for oil, gold, and EURUSD for 23.07.2021Alex Rodionovlogo

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.

Yesterday, sellers were able to update the day's low but failed to reach the Target Zone 1789 – 1784.

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

Oil continues to strengthen. Yesterday, buyers broke out the Target Zone 70.80 – 70.27. The next target is the Gold Zone 73.19 – 72.92. It is profitable to look for new oil purchases on correction to a short-term uptrend.

Additional Zone 70.51 – 70.38 and Intermediary Zone 69.19 – 68.92 serve as strong supports for opening purchases. A pattern is required to enter a trade. The first target for purchases is at the breakthrough of the local high.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 70.51 – 70.38. TakeProfit: 71.70. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 69.19 – 68.92. TakeProfit: 71.70. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

Yesterday, sellers were able to update the day's low but failed to reach the Target Zone 1789 – 1784. After updating the low and testing level 1795, the price went into correction. As part of the correction, the Additional Zone 1805 – 1804 was broken out. Now the target for purchases is the Intermediary Zone 1817 – 1815.

Today, consider gold purchases at the current prices (1805 – 1807) with a target in the Intermediary Zone.

To enter gold sales, a corresponding pattern is required, which is not currently on the price chart.

XAUUSD trading ideas for today:

Aggressive: buy from the level of 1806. TakeProfit: Intermediary Zone 1817 – 1815. StopLoss: 1800.

Euro/Dollar forecast for today: EURUSD analysis

Yesterday the euro trades were volatile. The ECB's interest rate decision was released. The rate was left unchanged, followed by a press conference by the ECB president Christine Lagarde. She said nothing new, so the price fluctuated both up and down.

According to the margin zones' methodology, the short-term trend remains down. Now traders are trying to break out the support zone 1.1762 – 1.1754. If successful, the price will decline to the Gold Zone 1.1711 – 1.1702. Otherwise, expect the price in the Intermediary Zone 1.1848 – 1.1840.

EURUSD trading ideas for today:

Watch the market.

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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 LiteForex. 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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