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.
Oil prices are testing the boundary of the short-term downtrend of 64.37–64.05.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the resistance B of 64.37–64.05. A breakout above this zone would signal a shift to an uptrend.
- XAUUSD: Gold will likely break through the upper Target Zone of 5,101–5,037.
- EURUSD: The euro is trading below the resistance B of 1.1943–1.1927.
Oil Price Forecast for Today: USCrude Analysis
Oil is testing the boundary of the short-term downward trend of 64.37–64.05. If the asset remains below this zone, it may plunge to the first bearish target of 62.60 and the second one of 60.85. A sell signal will appear when the price breaks below yesterday’s low.
If the oil price breaks above the resistance B of 64.37–64.05 today, the trend will switch to an uptrend. In this case, consider long trades with the main target in the upper Target Zone of 67.88–67.24.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
The gold price is testing the upper Target Zone of 5,101–5,037. If the metal breaks above this zone, it will likely climb to the Gold Zone of 5,271–5,249. If bears keep the price below the Target Zone, a corrective decline will start.
During the correction, the price may fall to the support A of 4,874–4,853. Once this zone is tested, consider long trades with the first target at 4,969 and the second one at 5,086. If the price breaks below the support A, the correction may extend to the support B of 4,768–4,736.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,874–4,853. TakeProfit: 4,969, 5,086. StopLoss: 4,799.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading below the key resistance of the short-term downtrend of 1.1943–1.1927. If bears keep the price below this zone, consider short trades with the first target in the 1.1854–1.1765 range.
If the EURUSD pair starts to rise and breaks above the resistance B, the trend will turn bullish. In this case, consider long trades on the next trading day with the target in the upper Target Zone of 1.2100–1.2089.
EURUSD Trading Ideas for Today:
Sell at resistance B 1.1943–1.1927. TakeProfit: 1.1854, 1.1765. StopLoss: 1.1972.
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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