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 oil price is trading in an upward correction within a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is extending its upward correction.
- XAUUSD: Gold has reached the Gold Zone 4,064–4,055.
- EURUSD: The euro is falling toward the lower Target Zone 1.1570–1.1536.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in an upward correction within the short-term downtrend, targeting the resistance (A) 63.62–63.31. Once this zone is reached, one may consider short trades with the first target at 61.91 and the second one at 60.20.
If the asset pierces 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
Yesterday, gold continued to climb, reaching the Gold Zone 4,064–4,055. Major traders closed their positions near this zone, causing the price to decline. If the asset continues to slide today, it may reach the support (A) 3,974–3,965. Once this zone is reached, consider long trades, with the first target at 4,012 and the second one near yesterday’s high.
If the price breaks below the support (A), the correction will proceed toward the trend boundary 3,931–3,918.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3,974–3,965. TakeProfit: 4,012, 4,059. StopLoss: 3,942.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend, targeting the lower Target Zone 1.1570–1.1536. Once it is reached, major traders may close their high-volume short positions, and an upward correction may start. If the price breaks below the Target Zone, the next bearish target will be the Gold Zone 1.1454–1.1443.
Short trades can be considered during a correction at the strong resistance (A) 1.1717–1.1706, with the first target at 1.1657 and the second one at this week’s low.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1717–1.1706. TakeProfit: 1.1657, 1.1598. StopLoss: 1.1747.
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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