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 euro is trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising after reaching support B of 96.63–95.82.
- XAUUSD: Gold is rebounding, but the overall trend remains bearish.
- EURUSD: The euro still faces bearish pressure.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price corrected lower, reaching the key support of the short-term uptrend at 96.63–95.82. Bulls managed to hold this support zone. Today, the price is rising and approaching the first bullish target of 100.27. If the oil price breaches this level, the next target will be 104.72.
If the price settles below the key support, the trend will turn bearish. In this case, short trades can be considered, with the target in the lower Target Zone of 88.54–86.93.
USCrude Trading Ideas for Today:
Hold long trades opened near support B of 96.63–95.82. TakeProfit: 100.27, 104.72. StopLoss: 93.98.
Gold Forecast for Today: XAUUSD Analysis
Gold is correcting higher within the short-term downtrend. If the correction continues this week, the price may test the resistance A of 4,609–4,595. Once it is tested, consider short trades, with the first target at 4,531 and the second one around 4,453.
If the metal breaks below the Target Zone of 4,466–4,423 today, it may decline to the Gold Zone of 4,324–4,310.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,609–4,595. TakeProfit: 4,531, 4,453. StopLoss: 4,648.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading within a short-term downtrend. The primary bearish target is the lower Target Zone.
Consider short trades during a correction at the resistance A of 1.1688–1.1678, with the first target at 1.1635 and the second one around 1.1582. If the euro falls below this week’s low, the resistance A should be adjusted.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1688–1.1678. TakeProfit: 1.1635, 1.1582. StopLoss: 1.1712.
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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