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 is trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rebounding within a short-term downtrend and approaching resistance A of 94.65–93.81.
- XAUUSD: Gold is trying to settle below the Target Zone of 4,335–4,313.
- EURUSD: The euro is testing the Target Zone of 1.1525–1.1492.
Oil Price Forecast for Today: USCrude Analysis
The oil price is trading within a short-term downtrend. At the end of May, the asset reached the Target Zone of 88.54–86.93. Bulls managed to defend this zone. After that, a correction started. During the correction, the price climbed to the resistance B of 94.65–93.81 last week. Bears were able to hold this level. As a result, the price dropped and reached the primary bearish target in the Target Zone.
Today, the price is rising again. If it tests and remains below the resistance B again, short trades can be considered with a target in the Target Zone.
USCrude Trading Ideas for Today:
Sell near resistance B of 94.65–93.81. TakeProfit: 88.54. StopLoss: 96.30.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade within a short-term downtrend. If the price breaks through the Target Zone of 4,335–4,313 today, it may fall further to the Gold Zone of 4,224–4,213. If bulls defend the Target Zone, an upward correction may begin, pushing the asset up to the resistance A of 4,390–4,379.
Once the gold price reaches the resistance A, consider short trades, targeting 4,329 and 4,268.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,390–4,379. TakeProfit: 4,329, 4,268. StopLoss: 4,416.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term downtrend. Last week, the price reached the Target Zone of 1.1525–1.1492. If the asset pierces this zone, the next bearish target will be the Gold Zone of 1.1429–1.1419. If bulls hold the Target Zone, an upward correction will begin.
If a correction develops, the price may climb to the resistance A of 1.1612–1.1603. Consider short trades near this zone, with the first target at 1.1560 and the second one at 1.1507.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1612–1.1603. TakeProfit: 1.1560, 1.1507. StopLoss: 1.1633.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of USCRUDE in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.