Welcome, my fellow traders! I have prepared a price forecast for 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 corrected higher to resistance A at 90.87–90.43 today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing resistance A at 90.87–90.43 within a downtrend.
- XAUUSD: Gold has pulled back toward support A at 4,045–4,035.
- EURUSD: The euro continues to decline within a downtrend.
Oil Price Forecast for Today: USCrude Analysis
Today, the oil price has corrected higher to the resistance zone A at 90.87–90.43. The short-term trend remains bearish. Consequently, consider short trades near the resistance A, with the first target at 88.43 and the second target near 85.99.
If the price breaks above the resistance A, the correction will continue toward resistance B at 93.31–92.64. This zone defines the trend boundary. Therefore, consider short trades near it.
USCrude Trading Ideas for Today:
Sell near resistance A at 90.87–90.43. TakeProfit: 88.43, 85.99. StopLoss: 91.93.
Gold Forecast for Today: XAUUSD Analysis
Today, gold has pulled back to the support A at 4,045–4,035. The short-term trend remains bullish. Therefore, consider long trades near this zone, with the first target at 4,091 and the second target around 4,146.
If the gold price breaks below the support A, the correction will continue down to support B at 3,994–3,979, the trend boundary. Long trades may be considered near this zone.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,045–4,035. TakeProfit: 4,091, 4,146. StopLoss: 4,009.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro failed to hold above resistance B at 1.1243–1.1230 yesterday. The price fell back below this resistance during the European trading session, and sellers defended this zone during the US trading session. As a result, today the euro opened with a sell-off.
The price is approaching the first sell target around 1.1173. If the euro pierces this level, it may reach the next target around 1.1104.
EURUSD Trading Ideas for Today:
Hold short trades opened near resistance B at 1.1243–1.1230. TakeProfit: 1.1173, 1.1104. StopLoss: 1.1245.
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.