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 has once again declined to the support B 59.37–59.09.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil fell again and tested the support B 59.37–59.09.
- XAUUSD: Yesterday, gold reached its second bullish target for the trades opened at the support A 4,768–4,756.
- EURUSD: The euro is trying to break through the resistance B 1.1755–1.1739 and reverse the downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil prices have once again corrected to the support B 59.37–59.09. This support is the boundary of the short-term uptrend. Therefore, consider long trades near it with the first target at 60.64 and the second one at 62.18.
If the asset breaks below the support B, the short-term uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 56.57–56.01.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold extended its short-term uptrend yesterday, reaching the second bullish target of 4,888 for the trades opened at the support A 4,768–4,756. After that, the price continued to rise and pierced the Target Zone 2, 4,898–4,874. The next target is the Gold Zone 2, 5,006–4,994.
Long trades can be considered during a correction at the strong support A 4,847–4,835, with the target at this week’s high.
XAUUSD Trading Ideas for Today:
Buy near support A 4,847–4,835. TakeProfit: 4,901, 4,967. StopLoss: 4,805.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is testing the boundary of the short-term downtrend at 1.1755–1.1739. Bears are keeping the asset within this zone. Therefore, consider new short trades near this resistance or hold existing ones open until the price reaches the first target of 1.1666 and the second one of 1.1577.
However, if the euro price breaks above the resistance B 1.1755–1.1739 today, the downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 1.1933–1.1901.
EURUSD Trading Ideas for Today:
Watch the market.
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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