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 testing the support (A) 59.57–59.29.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is testing the support (A) 59.57–59.29.
- XAUUSD: Gold is trading in a short-term downtrend.
- EURUSD: The euro is rising in a correction.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term uptrend. Today, the price once again tested the support (A) 59.57–59.29. Since bulls are keeping the asset above this zone, long trades can be considered with the first target at 60.82 and the second one at 62.36.
If the oil price breaks below the support (A) today, the correction will extend to the trend boundary 58.17–57.75. Consider long trades near this zone with the main target at 62.36.
USCrude Trading Ideas for Today:
Buy at support (A) 59.57–59.29. TakeProfit: 60.82, 62.36. StopLoss: 58.54.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend. This week, the price hit the first bearish target near 3,969. The second is last week’s low of 3,886. If the price falls lower, it may reach the Gold Zone 3,831–3,821.
If the asset breaks above the resistance 4,051–4,036, the short-term downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 4,216–4,186, starting from the next trading day.
XAUUSD Trading Ideas for Today:
Hold a part of short trades opened at resistance (B) 4,051–4,036. TakeProfit: 3,886. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining a short-term downtrend. Yesterday, the price approached the Gold Zone 1.1454–1.1443. Today, the asset is climbing in a correction. If the correction persists, the price may reach the resistance (A) 1.1587–1.1576. Consider short trades near this zone with the first target at 1.1528 and the second one at 1.1468.
If the price pierces the resistance (A) from below, the correction will extend to the trend boundary 1.1647–1.1630. Consider short trades near this zone.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1587–1.1576. TakeProfit: 1.1528, 1.1468. StopLoss: 1.1613.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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