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.
Gold extended its short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil plummeted to the support (B) 58.17–57.75 during a correction.
- XAUUSD: Gold has reached the Target Zone 4,216–4,186.
- EURUSD: The euro price is testing the resistance (A) 1.1587–1.1576.
Oil Price Forecast for Today: USCrude Analysis
This week, oil reached the first bullish target. After that, the price fell below the support (A) 59.57–59.29 and touched the support (B) 58.17–57.75. The latter is the boundary of the short-term uptrend. Therefore, consider long trades near this zone with the first target at 60.06 and the second one at 62.36.
If the oil price breaks below the support (B) today, the short-term uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Buy near support (В) 58.17–57.75. TakeProfit: 60.06, 62.36. StopLoss: 56.77.
Gold Forecast for Today: XAUUSD Analysis
Gold continued to trade in a short-term uptrend yesterday, reaching the upper Target Zone 4,216–4,186. If the price settles above this zone today, the next bullish target will be the Gold Zone 4,296–4,286.
If the gold price remains below the Target Zone, a downward correction may start, pushing the asset down to the support (A) 4,119–4,109 or support (B) 4,069–4,054. Once these zones are tested, one may consider long trades with the main target at this week’s high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 4,119–4,109. TakeProfit: 4,164, 4,219. StopLoss: 4087.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is rising in a correction within the short-term downtrend. The asset has reached the resistance (A) 1.1587–1.1576, but bears are keeping the price within this zone. Therefore, consider short trades with the first target of 1.1528 and the second one at last week’s low of 1.1468.
If the euro breaks above the resistance (A), the correction will extend to the trend boundary 1.1647–1.1630. Consider short trades near this zone.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance (A) 1.1587–1.1576. TakeProfit: 1.1528, 1.1468. StopLoss: 1.1613.
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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