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 gold price failed to break through the support B of 5,101–5,069.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil market is changing rapidly amid ongoing geopolitical developments.
- XAUUSD: Gold is bouncing off the support B of 5,101–5,069.
- EURUSD: The euro has pierced the resistance A of 1.1626–1.1615 during a correction within the short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The situation surrounding oil prices is changing rapidly. Yesterday afternoon, the short-term trend turned bearish. Today, the price has tested the key resistance of 86.63–85.99. Short trades were opened near this zone, and the asset reached the first bearish target. However, the price remained above yesterday’s low and eventually pierced the resistance of 86.63–85.99. As a result, the trend has changed to an upward one again.
The bullish target is now the upper Target Zone of 93.71–92.43. Long trades can be considered during a correction at the strong support A of 84.55–84.10 and support B 82.32–81.65.
USCrude Trading Ideas for Today:
Buy near support A of 84.55–84.10. TakeProfit: 86.54, 89.01. StopLoss: 82.88.
Gold Forecast for Today: XAUUSD Analysis
The gold price failed to break below the support B of 5,101–5,069. This zone is the key support for the short-term uptrend. Consequently, long trades can be considered near this zone with the first target at 5,244 and the second one at 5,419.
If gold plunges below the support B, the short-term uptrend will reverse. In this case, consider short trades on the next trading day with a target in the lower Target Zone of 4,783–4,719.
XAUUSD Trading Ideas for Today:
Buy at 5,124. TakeProfit: 5,244. StopLoss: 5,075.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is rising during a correction within the short-term downtrend. Yesterday, the price touched the resistance A of 1.1626–1.1615. Today, the asset has pierced this zone. If the euro consolidates above the resistance A, the correction may continue to the resistance B of 1.1685–1.1669. If the price returns below 1.1615 and drops below today’s low, one may consider short trades with the first target at 1.1566 and the second one near 1.1507.
If the EURUSD pair breaks above the resistance B, the trend will turn bullish. In this case, long trades can be considered with a target in the upper Target Zone of 1.1863–1.1831.
EURUSD Trading Ideas for Today:
Sell near resistance B of 1.1685–1.1669. TakeProfit: 1.1596, 1.1507. StopLoss: 1.1712.
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Price chart of XAUUSD in real time mode
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