I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Oil quotes follow an upward correction, approaching resistance (A) at 64.61 – 64.30.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is correcting upward.
- XAUUSD: Gold has broken through the Target Zone 2 at 3,665 – 3,650.
- EURUSD: The euro price has broken above the upper Target Zone of 1.1774 – 1.1739.
Oil Price Forecast for Today: USCrude Analysis
Oil quotes follow an upward correction, approaching resistance (A) at 64.61 – 64.30. New short positions can be considered near this resistance, with an initial target at 62.90 and the second one near 61.20. If resistance (А) is broken to the upside, the correction will continue up to resistance (B) 66.31 – 65.85. This area serves as the short-term downtrend’s boundary. Thus, consider opening new shorts from these levels.
If the 66.31 level is broken to the upside and the American session closes above, the short-term trend will reverse up. In that case, long positions may be considered starting from the next trading day, targeting the upper Target Zone at 71.43 – 70.50.
USCrude Trading Ideas for Today:
Sell near resistance (А) 64.61 – 64.30. TakeProfit: 62.90, 61.19. StopLoss: 65.21.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to strengthen, breaking through the Target Zone 2 at 3,665 – 3,650. The next growth target is the Gold Zone 2 at 3,733 – 3,725. I recommend considering new longs during a correction from strong support levels — support (А) 3,614 – 3,607 and support (В) 3,577 – 3,565. The main target for these longs will be the current week’s high.
To sell the asset and reverse the trend, traders have to break below the level of 3,565.
XAUUSD Trading Ideas for Today:
Buy near support (А) 3,614 – 3,607. TakeProfit: 3,648, 3,689. StopLoss: 3,588.
Euro/Dollar Forecast for Today: EURUSD Analysis
Euro’s short-term uptrend continues today, reaching the second buy target for longs opened from support (А) at 1.1675 – 1.1663. Market participants are also attempting to break above the Target Zone of 1.1774 – 1.1739. If they succeed, the next upside target will be the Gold Zone 1.1867 – 1.1855. Thus, consider new longs on a correction.
If support (A) 1.1675 – 1.1663 is tested on a correction, consider buying the asset, with the first target at 1.1727 and the second one near 1.1791. If support (А) is broken to the downside, the bearish correction may reach the trend boundary at 1.1617 – 1.1599.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1675 – 1.1663. TakeProfit: 1.1727, 1.1791. StopLoss: 1.1632.
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Price chart of USCRUDE in real time mode
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