Gold continues corrective rise in the middle-term
Oil middle-term trend is upward. Buy target is Target Zone 4 [58.66 – 58.29]. I recommend holding up purchases from the levels of [54.98 – 54.59], or looking for new ones at the key support test.
The short-term trend is also upward. The target is Target Zone [58.44 – 58.07]. The technical analysis pattern in the longer timeframe also confirms purchases. All we need is to find an entry point.
Good buy prices are at the meeting point of Additional zone and the broken out Intermediary Zone. The second zone to look for buys is the key support to the trend at [55.60 – 55.41]. It is good to fiz a part of profits at the high updating.
USCrude trading tips for today:
- Buy according to the pattern in the zone of [56.52 – 56.22]. TakeProfit: 57.42, Target Zone [58.44 – 58.07]. StopLoss: according to the pattern rules.
- Buy according to the pattern in Intermediary Zone [55.60 – 55.41]. TakeProfit: 57.42, Target Zone [58.44 – 58.07]. StopLoss: according to the pattern rules.
Gold continues corrective rise. The correction target is the test of the trend key resistance [1318.3 – 1314.9].
The short-term trend is reversing upwards. It is results from the Asian trade session, trading the price above the resistance [1299.6 – 1297.9]. If European session also consolidates the price above the zone, I recommend buying gold at the level retest with a target in the upper Target Zone [1318.3 – 1314.9].
If the price rolls back under the resistance, following by the breakout of yesterday’s low and consolidation below, there will be a sell pattern, providing a perfect entry point. In this case, the target will be Target Zone 2 [1278.7 – 1275.3].
XAUUSD trading tips for today:
- If level 1306.5 is tested, buy from the broken out zone of [1299.6 – 1297.9]. TakeProfit: Target Zone [1318.3 – 1314.9]. StopLoss: 1297
- If the price consolidates below the low of March 11, sell according to the pattern. TakeProfit: Target Zone 2 [1278.7 – 1275.3]. StopLoss: according to the pattern rules.
Euro continues correction, the middle-term trend remains downward. On of the possible correction targets is the test of the trend key resistance [1.1378 – 1.1360]. If this price zone is reached, we shall be looking for new sells.
In the shorter timeframe, there are clear attempts to break through and consolidate above the key resistance of the local downtrend at [1.1277 – 1.1268]. In my opinion, the price growth over the past few days doesn’t look like an impulse movement. I believe that long positions will be relevant if IZ is broken out and the price is consolidated above at the US session.
If the euro starts going down from the current prices and breaks out Additional Zone [1.1259 – 1.1254], I suggest looking for new sells in the trend. In this case, the target will be the low of last week and Gold Zone [1.1143 – 1.1134].
EURUSD trading tips for today:
- If the price breaks through Intermediary Zone [1277 – 1.1268] and consolidates above at the US session, buy on the correction. TakeProfit: Target Zone [1378 – 1.1360]. StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone [1.1277 – 1.1268]. TakeProfit: 1.1180, Gold Zone [1.1143 – 1.1134]. StopLoss: according to the pattern rules.
IZ - Intermediary Zone: responsible for the price momentum reversing.
TZ - Target Zone: a zone that is 75% likely to be reached after IZ breakout.
GZ - Gold Zone: zone in the medium-term momentum.
All zones are calculated based on the average daily price of the instrument and margin requirements of the futures.
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Price chart of XAUUSD in real time mode
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