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.
Yesterday, the euro price declined within a correction.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the first target for the long trades opened at the support 56.63–56.42.
- XAUUSD: The gold price has tested the resistance 4,472–4,454.
- EURUSD: The euro is rising within a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price tested the support 56.63–56.42 during a correction within the short-term uptrend. Bulls managed to keep the asset above this zone. After that, the price started to climb and reached the first target at 57.58. The second target is at 58.74.
If the price settles above the 58.74 level, it may break above the upper Target Zone 58.98–58.61. In this case, the oil price may rise to the Gold Zone 60.66–60.48.
USCrude Trading Ideas for Today:
Hold long part of trades opened at support A 56.63–56.42. TakeProfit: 58.74. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price increased during a correction, reaching the key resistance of the short-term downtrend at 4,472–4,454. Consider short trades near this zone with the first target at 4,373 and the second one near 4,274.
If the price consolidates above the resistance B 4,472–4,454, the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 4,670–4,634.
XAUUSD Trading Ideas for Today:
Sell at resistance B 4,472–4,454. TakeProfit: 4,373, 4,274. StopLoss: 4,507.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro price declined in a correction, reaching the support 1.1700–1.1689. Initially, the price settled below this level but recovered in the US trading session. This was a signal to open long trades with the first target at 1.1748 and the second one at 1.1808. Therefore, consider holding previously opened long positions today.
An alternative scenario suggests that if the price consolidates below the support A, the asset may fall to the support B 1.1646–1.1629 within a correction. This zone is the trend boundary, so consider long trades near it.
EURUSD Trading Ideas for Today:
Hold long trades opened at support A 1.1700–1.1689. TakeProfit: 1.1748, 1.1808. StopLoss: 1.1662.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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