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.
Gold is trying to rise within a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading in a correction within the short-term uptrend.
- XAUUSD: Gold is testing the Target Zone 3368 – 3345 from below.
- EURUSD: The euro has formed a sideways channel slightly above the support (A) 1.1358 – 1.1345.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued to trade in a short-term uptrend and approached the Gold Zone 65.70 – 65.44. Today, the quotes are trading in a downward correction.
If the pullback continues, the asset may test the support (A) 62.06 – 61.76. Once this zone is tested, one may consider long trades. The trend boundary is shifting to 60.55 – 60.10.
USCrude Trading Ideas for Today:
Buy near support (A) 62.06 – 61.76. TakeProfit: 63.53, 65.31. StopLoss: 61.12.
Gold Forecast for Today: XAUUSD Analysis
Gold is trying to climb within a short-term uptrend. Yesterday, the price tested the Target Zone 3368 – 3345 but failed to pierce it. Therefore, if the asset remains below the Target Zone today, the quotes may fall and test the support (B) 3291 – 3279.
Once the support (B) is tested, long trades can be considered with the main target at the June 5 high.
XAUUSD Trading Ideas for Today:
Buy near support (B) 3291 – 3279. TakeProfit: 3341, 3403. StopLoss: 3258.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term uptrend. The price has formed a sideways channel over the last few days. If the price breaks through its lower boundary, it may test the support (A) 1.1358 – 1.1345. Once this zone is tested, consider long trades with the first target of 1.1420 and the second one of 1.1495.
If the asset breaches the upper boundary of the channel and pierces yesterday’s high, it may exceed the June high near 1.1495.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1358 – 1.1345. TakeProfit: 1.1420, 1.1495. StopLoss: 1.1318.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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