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 prices are trading today in a correction in the short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil prices are rising in a correction.
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XAUUSD: Gold’s short-term trend has turned bullish.
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EURUSD: The euro has tested the resistance B of 1.1482–1.1468.
Oil Price Forecast for Today: USCrude Analysis
Oil prices are trading in a correction within the short-term downtrend. If the correction continues, crude prices may reach the resistance A of 73.23–72.67. Once this zone is reached, consider short positions with targets at 70.17 and 67.06.
If the resistance A is pierced today, the correction will likely continue toward resistance B of 76.31–75.47.
USCrude Trading Ideas for Today:
Sell near resistance A at 73.23–72.67. TakeProfit: 70.17, 67.06. StopLoss: 74.65.
Gold Forecast for Today: XAUUSD Analysis
The short-term trend for gold has turned bullish today. The price has broken through the resistance B of 4,127–4,110. The next bullish target is the upper Target Zone of 4,310–4,277. Consider long positions during pullbacks.
If the correction develops, gold prices may reach the support A of 4,084–4,073. Once this support is reached, consider buying gold with a first target at 4,134 and a second target near today’s high of 4,195.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,084–4,073. TakeProfit: 4,134, 4,195. StopLoss: 4,045.
Euro/Dollar Forecast for Today: EURUSD Analysis
This week, the euro tested the resistance A of 1.1430–1.1420. Bears managed to keep the price below this level, pushing it toward the first target around 1.1377.
However, the price then rebounded and started a correction, breaching the resistance A from below. As a result, the euro has reached the resistance B of 1.1482–1.1468, acting as a trend boundary. This means short positions can be considered near this level, targeting 1.1403 and 1.1324.
EURUSD Trading Ideas for Today:
Hold part of your short positions opened near resistance B of 1.1482–1.1468. TakeProfit: 1.1403, 1.1324. StopLoss: 1.1512.
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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