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.
The oil price extended its short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil extended its short-term uptrend, reaching the first bullish target of 60.07.
- XAUUSD: Gold has reached its first bullish target for the trades opened at the support (A) 4,145–4,135.
- EURUSD: The euro is testing the resistance (B) 1.1647–1.1630.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price continued its short-term uptrend, hitting the first bullish target near 60.07. The next target is 62.36. If the price settles above this level, it may climb to the upper Target Zone 64.95–64.13.
If oil starts to decline and breaks below the support (B) 58.17–57.75, the short-term uptrend will reverse. In this case, consider short trades on the next trading day, with the main target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold part of the long trades opened at support (B) 58.17–57.75. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold maintained its short-term uptrend yesterday. As a result, the price increased to the upper Target Zone 4,216–4,186 but failed to settle above it.
Aterward, the gold price tested the support (A) 4,145–4,135. Traders had an opportunity to open long positions near this zone with the first target at 4,190, which was reached today, and the second one at yesterday’s high of 4,245.
XAUUSD Trading Ideas for Today:
Hold part of the long trades opened at support (A) 4,145–4,135. TakeProfit: 4,245. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro price rose in a correction, reaching the resistance (B) 1.1647–1.1630. This resistance is the boundary of the short-term downtrend. Therefore, consider short trades near this zone with the first target at 1.1557 and the second one near last week’s low of 1.1468.
If the euro breaks above the resistance (B), the short-term downtrend will reverse. In this case, consider long trades on the next trading day with a target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Hold the short trades opened at resistance (B) 1.1647–1.1630. TakeProfit: 1.1557, 1.1468. StopLoss: 1.1683.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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