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 price of oil is poised to rise.
The article covers the following subjects:
Major Takeaways
- USCrude: After hitting the support B at 58.17–57.75, oil is climbing toward 60.06.
- XAUUSD: Gold is declining in a correction, likely targeting the support A at 4,164–4,154.
- EURUSD: The euro once again tested the resistance 1.1647–1.1630 but failed to pierce it.
Oil Price Forecast for Today: USCrude Analysis
The oil is rising within a short-term uptrend. The first bullish target is 60.06, and the second one is 62.36. Once the price reaches the first target, move your long trades opened at the support B 58.17–57.75 to the breakeven level.
Oil should break below the support B to create selling opportunities and reverse the trend. In this case, a bearish target will be in 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 is trading in a correction within the short-term uptrend. If the correction continues this week, the asset may test the support A at 4,164–4,154. Once this zone is tested, consider long trades with the first target at 4,210 and the second one at 4,264.
If the gold price breaks below the support A today, the correction will extend to the trend boundary 4,114–4,099. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy near support A 4,164–4,154. TakeProfit: 4,210, 4,264. StopLoss: 4,130.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro price tested the key resistance of the short-term downtrend at 1.1647–1.1630 for the second time. However, the asset remained below this zone. Therefore, consider short trades today with the first target at 1.1557 and the second one at 1.1468.
If the euro/dollar price breaks above the resistance 1.1647–1.1630 today, the downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Sell near resistance B 1.1647–1.1630. TakeProfit: 1.1557, 1.1468. StopLoss: 1.1655.
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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