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.
Yesterday, oil reached the Gold Zone 57.60–57.29.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pierced the Gold Zone 57.60–57.29.
- XAUUSD: Gold has breached the Gold Zone 4,249–4,240 and reached the Target Zone 4,348–4,330.
- EURUSD: The euro has hit the resistance (B) 1.1720–1.1704.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues to fall. Today, the asset settled below the Gold Zone 57.60–57.29. The next bearish target is the Target Zone 54.45– 53.83.
Consider short trades during a correction at the resistance (A) 59.91–59.60, with the first target at 58.17 and the second one around 56.45. If the price breaks above the resistance (A), the correction will continue to the trend boundary 61.63–61.16.
USCrude Trading Ideas for Today:
Sell near resistance (A) 59.91–59.60. TakeProfit: 58.17, 56.45. StopLoss: 60.71.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to rise within a short-term uptrend. The price broke through the Gold Zone 4,249–4,240 yesterday and reached the Target Zone 4,348–4,330 today. After that, a correction started, and the asset tested the support (A) 4,289–4,280. Traders opened large long positions near this zone, causing the price to reach the first bullish target near 4,329 and the second one at today’s high.
If gold consolidates above the Target Zone, it may climb to the Gold Zone 4,429–4,420. If a downward correction emerges, it will be better to wait until the price retests the support 4,289–4,280.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro extended its upward correction, reaching the short-term downtrend’s key resistance 1.1720–1.1704. If the asset remains below this zone, short trades can be considered with the first target at 1.1631 and the second one at this week’s low.
If the price breaks above the resistance (B) 1.1720–1.1704, the short-term downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 1.1898–1.1866, starting from the next trading day.
EURUSD Trading Ideas for Today:
Sell near resistance (B) 1.1720–1.1704. TakeProfit: 1.1631, 1.1542. StopLoss: 1.1752.
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 for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing 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.