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.
Oil prices continue to rise.
The article covers the following subjects:
Major Takeaways
- USCrude: Today, oil prices opened with a gap up and tested the Target Zone 2 of 99.00–98.10.
- XAUUSD: Gold has turned bearish in the short term.
- EURUSD: Last week, the euro plunged to the Gold Zone 2 of 1.1423–1.1412.
Oil Price Forecast for Today: USCrude Analysis
Last Friday, oil extended its short-term uptrend, reaching all the bullish targets set for the trades opened at the support A of 92.24–91.79. Today, the price opened with a gap up and tested the Target Zone 2 of 99.00–98.10.
However, the asset failed to break through this resistance zone and declined to the support A of 95.35–94.90. Near this support zone, traders initiated long positions, leading to a price increase to the first bullish target of 97.36. The next target is today’s high of 99.81. If the oil price consolidates above this level, it may grow to the Gold Zone 2 of 103.01–102.56.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support A of 95.35–94.90. TakeProfit: 99.81. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Last week, the gold price changed its short-term trend to a downtrend by breaking below the key support zone of 5,101–5,069. Therefore, consider short trades this week with the primary target at this week’s low of 4,966.
Consider short trades at the strong resistance of 5,163–5,145, with the first target at 5,064.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 5,163–5,145. TakeProfit: 5,064, 4,966. StopLoss: 5,209.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued its short-term downtrend last Friday. As a result, the price broke below the Target Zone 2 of 1.1531–1.1509 and reached the Gold Zone 2 of 1.1423–1.1412. If the EURUSD pair falls below the Gold Zone 2 of 1.1423–1.1412 this week, the next bearish target will be the Target Zone 3 of 1.1315–1.1293.
Short trades can be opened during a pullback at the strong resistance A of 1.1529–1.1518 and resistance B of 1.1589–1.1572.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1529–1.1518. TakeProfit: 1.1470, 1.1410. StopLoss: 1.1554.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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