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 to fall within the downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil may rise to 62.36.
- XAUUSD: Gold is trading in a short-term downtrend.
- EURUSD: The euro is declining and trading near swing lows.
Oil Price Forecast for Today: USCrude Analysis
As of Wednesday morning, oil is trading in a short-term uptrend. The price is trying to rebound from the support (A) 59.57–59.29, targeting 62.36. Therefore, consider holding some of the long trades initiated at the support (A) open today.
If the asset breaks below the support (A), the correction will extend to the support (B) 58.17–57.75. Since this zone is the trend boundary, one may consider long trades near it.
USCrude Trading Ideas for Today:
Hold a part of long trades opened at support (A) 59.57–59.29. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term downtrend. The second bearish target for the trades opened at the resistance (B) 4,051–4,036 is last week’s low of 3,886. So, today consider holding some of your trades initiated at the resistance (B) at the breakeven level.
If the price consolidates above the resistance (B), the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 4,216–4,186.
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 continues to fall. Today, the price approached the Gold Zone 1.1454–1.1443. If the asset settles below this zone, it may decline further to the Target Zone 2, 1.1343–1.1321.
If an upward correction begins, the price may climb to the resistance (A) 1.1591–1.1581. Consider short trades near this zone with a target at this week’s low of 1.1473.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1591–1.1581. TakeProfit: 1.1532, 1.1473. StopLoss: 1.1617.
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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