I welcome my fellow traders! I have made a price forecast for USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Oil continues to trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has stalled near the Target Zone 63.61 – 62.83.
- Gold: Gold is trying to break through the upper Target Zone 3368 – 3345.
- EURUSD: The euro is attempting to climb and exceed its June high.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term uptrend. The price is trying to break through the Target Zone 63.61 – 62.83. If so, the asset may reach the second bullish target near 64.01. In this case, the next bullish target will be near the Gold Zone 65.70 – 65.44.
If oil remains below the Target Zone, a correction may start again, and the price may test the trend boundary 59.51 – 59.06. Whether to buy or sell oil will depend on the price’s ability to break through this support level.
USCrude Trading Ideas for Today:
Hold up long trades opened at support (B) 59.51 – 59.06. TakeProfit: 64.01. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term uptrend. This week, the price aims to break through the upper Target Zone 3368 – 3345. If so, the next bullish target will be the Gold Zone 3428 – 3420.
If bears manage to hold the price below the Target Zone, a correction may unfold. If the correction develops, the asset may fall to the support (A) 3316 – 3309. Once this support is tested, long trades can be considered with the first target of 3350 and the second one of 3391.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3316 – 3309. TakeProfit: 3350, 3391. StopLoss: 3293.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro keeps trading in a short-term uptrend. The price is rising with the target in the Target Zone 1.1514 – 1.1473. If the asset pierces this zone, the next bullish target will be the Gold Zone 1.1622 – 1.1609.
Consider long trades at the strong support (A) 1.1318 – 1.1305. If the price declines to this zone, one may consider long trades with the first target of 1.1379 and the second one at the June high of 1.1454.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1318 – 1.1305. TakeProfit: 1.1379, 1.1454. StopLoss: 1.1279.
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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