I welcome my fellow traders! I have made a price forecast for the 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.
The euro is rising within a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trying to continue its bearish movement.
- XAUUSD: Gold reversed its short-term downtrend yesterday.
- EURUSD: The euro continues to trade in a short-term uptrend with a target at the July high of 1.1829.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to decline within a short-term downtrend. A bearish target is the June low around 63.70. If the price breaks below this level, the next target will be the Target Zone 61.61 – 61.01.
The price should pierce the 68.25 level to create buying opportunities and reverse the trend. In this case, consider long trades with the main target in the upper Target Zone 72.78 – 71.95, starting from the next trading day.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (B) 68.25 – 67.33. TakeProfit: 63.70. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reversed its short-term downtrend and broke through the key resistance 3372 – 3360. Now, a bullish target is the upper Target Zone 3495 – 3473.
Consider long trades during a correction at the strong support (A) 3364 – 3356 and support (B) 3326 – 3315. The latter is the trend boundary. Therefore, as long as the price is trading above this zone, one may consider long trades.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3364 – 3356. TakeProfit: 3397, 3439. StopLoss: 3342.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is growing within a short-term uptrend. Yesterday, the price reached the first bullish target near 1.1717. The second target is 1.1829. If the price consolidates above this level, the next bullish target will be the Gold Zone 1.1908 – 1.1894.
The asset should break through and settle below the 1.1605 level to create selling opportunities and reverse the trend. In this case, the short-term uptrend will reverse, and one may consider short trades with a target in the lower Target Zone 1.1421 – 1.1381.
EURUSD Trading Ideas for Today:
Buy near 1.1658. TakeProfit: 1.1760, 1.1829. StopLoss: 1.1609.
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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