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.
Short-term forecast for oil, gold, and euro-dollar today. The euro continues to trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is undergoing a downward correction, targeting the 55.58–55.26 support area.
- XAUUSD: Gold’s downward trend may continue.
- EURUSD: The euro is testing the support A at 1.1700–1.1689.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to correct within the short-term uptrend, likely targeting the support B of 55.58–55.26. This key area offers a trend boundary. Therefore, long positions can be considered near this area, with targets at 57.00 and 58.74.
If the price pierces the support B, the uptrend will likely reverse. In this case, short positions can be opened with a target in the lower Target Zone of 53.14–52.58.
USCrude Trading Ideas for Today:
Buy near support B at 55.58–55.26. TakeProfit: 57.00, 58.74. StopLoss: 54.48.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend. Bears have managed to keep the price below the key resistance of 4,472–4,454. Therefore, consider short positions with targets of 4,373 and the December 31 low of 4,274.
If gold breaks through the resistance B today, the downtrend will likely reverse. In this case, you can consider buying the asset with a target in the upper Target Zone of 4,670–4,634.
XAUUSD Trading Ideas for Today:
Sell near resistance B at 4,472–4,454. TakeProfit: 4,373, 4,274. StopLoss: 4,507.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term uptrend. Yesterday, the price tested the support of 1.1700–1.1689. Bulls maintained the price above this area. Therefore, long positions can be considered near this zone with the first target at 1.1748 and the second target at 1.1808 if the price returns above 1.1700.
If quotes begin to fall today, the support A will likely be broken through. In this case, the correction may extend to support B at 1.1646–1.1629, which serves as a trend boundary. This area also offers entry points into long positions.
EURUSD Trading Ideas for Today:
Watch the market.
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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