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 is trading in an upward correction within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading in an upward correction.
- XAUUSD: Gold has pierced the Target Zone 3,986–3,970.
- EURUSD: The euro has reached all its bearish targets for the trades opened at the resistance (A) 1.1773–1.1761.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in an upward correction within the short-term downtrend. The price will likely test the resistance (A) 63.62–63.31. Once this zone is tested, consider short trades with the first target at 61.91. If the price settles below this level, the second bearish target will be last week’s low of 60.20.
If the asset climbs and breaks above the resistance (A), the correction will continue to the resistance (B) 65.32–64.86. This zone is the trend boundary. Therefore, consider short trades near it.
USCrude Trading Ideas for Today:
Sell near resistance (A) 63.62–63.31. TakeProfit: 61.91, 60.20. StopLoss: 64.45.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to rally, breaking through the Target Zone 3,986–3,970. The next bullish target is the Gold Zone 4,064–4,055.
Long trades can be considered during corrections at the strong support (A) 3,954–3,945 and support (B) 3,911–3,898. The main bullish target will be this week’s high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3,954–3,945. TakeProfit: 3,992, 4,039. StopLoss: 3,922.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro extended its short-term downtrend today and reached all the bearish targets for the trades opened at the resistance (A) 1.1773–1.1761. The next target is the lower Target Zone 1.1570–1.1536. If the price pierces this zone, consider short trades with the target in the Gold Zone 1.1454–1.1443.
If a correction starts, quotes may climb to the resistance (A) 1.1725–1.1715. Once this zone is tested, consider short trades with the first target at 1.1666 and the second one around 1.1607.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1725–1.1715. TakeProfit: 1.1666, 1.1607. StopLoss: 1.1755.
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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