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 euro continued its corrective rally yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is set to break above the resistance B of 64.37–64.05.
- XAUUSD: Gold has reached the second bullish target for the trades opened at the support B of 4,772–4,740.
- EURUSD: The euro increased to the resistance B of 1.1943–1.1927 during a correction.
Oil Price Forecast for Today: USCrude Analysis
The oil price is rising and may pierce the resistance B of 64.37–64.05. If so, the short-term downtrend will turn into an uptrend. In this case, consider long trades with the main target in the upper Target Zone of 67.88–67.24.
If the asset remains below the resistance B today, consider short trades with the first target at 62.60 and the second one near 60.85, once a bearish pattern appears.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is extending its short-term uptrend. Yesterday, the price hit the second bullish target for the trades opened at the support of 4,772–4,740. This target was the February 4 high. If the asset continues to advance today, it may break above the Target Zone of 5,101–5,037. In this case, the next bullish target will be the Gold Zone of 5,271–5,249.
If bears keep the price below the Target Zone, a corrective decline may start, pushing the asset down to the support A of 4,874–4,853. Once this zone is reached, consider long trades with the first target at 4,969.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,874–4,853. TakeProfit: 4,969, 5,086. StopLoss: 4,799.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price continued its corrective growth yesterday, breaking above the resistance A of 1.1884–1.1873. After that, the asset reached the resistance B 1.1943–1.1927, the trend boundary. Therefore, short trades can be considered near this zone with the first target at 1.1854 and the second one at the February 6 low of 1.1765.
If the euro/dollar price breaks above the resistance B, the short-term trend will turn bullish. In this case, consider long trades with the main target in the upper Target Zone of 1.2122–1.2089.
EURUSD Trading Ideas for Today:
Sell at resistance B of 1.1943–1.1927. TakeProfit: 1.1854, 1.1765. StopLoss: 1.1972.
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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