Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The oil price remains in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising after hitting the support B at 58.17–57.75.
- XAUUSD: Gold has reversed its short-term downtrend.
- EURUSD: The euro continues to trade in a short-term bearish trend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is still trading in a short-term uptrend. Therefore, consider holding long trades open today with the first target near 60.06. If the price breaks above this level, the next bullish target will be 62.36.
Oil should break below the 57.75 level to create selling opportunities and reverse the uptrend. If so, a bearish target will be the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold long trades opened at support B 58.17–57.75. TakeProfit: 60.06, 62.36. StopLoss: 56.95.
Gold Forecast for Today: XAUUSD Analysis
Gold has changed its short-term downtrend to the upside by piercing the resistance B at 4,163–4,148. The upper Target Zone 4,328–4,298 is now a bullish target.
Long trades can be considered during a correction at the strong support A 4,092–4,082 and support B 4,042–4,027. The latter acts as the trend boundary. The main bullish target will be today’s high.
XAUUSD Trading Ideas for Today:
Buy at support A 4,092–4,082. TakeProfit: 4,138, 4,192. StopLoss: 4,058.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term downtrend. The main bearish target is the November low. If the price consolidates below this low, it may break below the Gold Zone 1.1462–1.1452. If so, the asset may plunge to the Target Zone 2, 1.1354–1.1333.
If the euro price increases and breaks above the resistance 1.1647–1.1630 today, the short-term downtrend will reverse. In this case, consider long trades on the next trading day with a target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B 1.1647–1.1630. TakeProfit: 1.1468. StopLoss: at the breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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