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 euro continues its short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is rising and is poised to exceed the Monday high of 73.04.
- XAUUSD: After a Monday increase, gold is declining in a correction.
- EURUSD: The euro has tumbled below the Target Zone of 1.1758–1.1725.
Oil Price Forecast for Today: USCrude Analysis
The price of oil keeps trading in a short-term uptrend and is climbing toward this week’s high of 73.04. If the asset breaks above this high, it may go up to the Gold Zone of 73.85–73.64.
If the price remains below the weekly high, a bearish correction may begin. In this case, the US crude price may fall to the key support zone of 69.85–69.53. Once this zone is reached, consider long trades, aiming for the first target at 71.30 and the second one at 73.04.
USCrude Trading Ideas for Today:
Hold long trades opened at support B of 69.85–69.53. TakeProfit: 73.04. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
The gold price is trading in a correction within the short-term uptrend. If the correction persists today, the metal may test the support A of 5,207–5,185. Once this zone is tested, consider long trades with the first target at 5,303 and the second one near 5,419.
If the price breaks below the support A today, the correction will extend to the trend boundary of 5,101–5,069. Consider long trades near this zone with the main target at yesterday’s high.
XAUUSD Trading Ideas for Today:
Buy near support A of 5,207–5,185. TakeProfit: 5,303, 5,419. StopLoss: 5,132.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term downtrend. Yesterday, the price pierced the Target Zone of 1.1758–1.1725. Today, the asset is approaching the next bearish target in the Gold Zone of 1.1650–1.1639. When the price reaches the Gold Zone, large market players may close their short trades, causing a bullish correction.
If the correction starts, the EURUSD pair may soar to the resistance A of 1.1777–1.1767 or resistance B of 1.1837–1.1821. Consider short trades near these zones with the primary target at today’s low.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1777–1.1767. TakeProfit: 1.1718, 1.1658. StopLoss: 1.1803.
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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