Welcome, my fellow traders! I have prepared a price forecast for US Crude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I have identified entry signals for intraday traders.
The euro has broken through the Gold Zone of 1.1375–1.1367 this week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rebounding from the Target Zone of 88.79–87.46.
- XAUUSD: Gold has reached its first bearish target around 4,167.
- EURUSD: The euro has dropped below the September 29 low, approaching the Target Zone 2 of 1.1291–1.1274.
Oil Price Forecast for Today: USCrude Analysis
Oil has failed to break below the lower Target Zone of 88.79–87.46 and is rising today. If the price continues to rise, it may reach the resistance A at 92.45–92.01. Once this resistance is reached, consider short positions with targets of 90.03 and 87.58.
If the price pierces the Target Zone from above, oil may decline to the Gold Zone of 84.36–83.92.
USCrude Trading Ideas for Today:
Sell near resistance A at 92.45–92.01. TakeProfit: 90.03, 87.58. StopLoss: 93.51.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tested the resistance A at 4,223–4,213. Bears kept the price below this area, and prices began to decline. The first bearish target was reached around 4,167. The next sell target is the September 28 low around 4,110. As a result, short positions initiated yesterday at break-even can be held open.
If the resistance A is broken through today, the price may surge to the resistance B at 4,280–4,264. This resistance level marks the trend boundary. Therefore, selling opportunities may also be considered near this level.
XAUUSD Trading Ideas for Today:
Hold short trades opened at resistance A 4,223–4,213. TakeProfit: 4,110. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
This week, the euro has broken through the Gold Zone of 1.1375–1.1367. Yesterday, the price rose and corrected higher. As part of the correction, the broken zone was tested from below.
However, bears regained control, and the price ultimately fell. At the moment, prices are approaching the Target Zone 2 at 1.1291–1.1274. If this zone is pierced, the price may hit the next target in the Gold Zone 2 at 1.1207–1.1199.
Consider short positions during a correction near the resistance zone at 1.1399–1.1390. The first sell target will be the 1.1352 level. The second target will be today’s low of 1.1306.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1399–1.1390. TakeProfit: 1.1352, 1.1306. StopLoss: 1.1418.
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Price chart of EURUSD in real time mode
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