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 is trading in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price has climbed to the second target set for the longs opened at the support B at 93.45–92.78.
- XAUUSD: Gold has plunged below the Gold Zone 2 at 4,224–4,206.
- EURUSD: The euro is falling after hitting the resistance B at 1.1589–1.1572.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term uptrend. The price has reached the second target set for the long trades opened at the key support at 93.45–92.78. The next bullish target is the Gold Zone 2 at 103.01–102.56.
Long trades can be considered during a pullback at the strong support A at 94.81–94.26, with the first target at 97.25 and a second one at 100.27.
USCrude Trading Ideas for Today:
Buy near support A at 94.81–94.26. TakeProfit: 97.25, 100.27. StopLoss: 92.79.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to decline rapidly. Last Friday, the metal reached the second target set for the shorts opened at the resistance A at 4,699–4,681. After that, the price dropped to the Target Zone 2 at 4,403–4,367. Today, gold pierced this zone and fell to the Gold Zone 2 at 4,224–4,206. Now, the price is decreasing toward the Target Zone 3 at 4,045–4,009.
Consider short trades during a correction at the strong resistance A at 4,329–4,311 and resistance B at 4,427–4,401. The primary target will be today’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,329–4,311. TakeProfit: 4,231, 4,132. StopLoss: 4,378.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro advanced to the key resistance of the short-term downtrend at 1.1589–1.1572. Bears managed to hold the price below this zone, resulting in a decline. If the euro continues to drop today, it may reach the first bearish target around 1.1500. Should the asset break below this level, it may plummet to the second target at 1.1410.
If the EURUSD pair rises to the resistance B at 1.1589–1.1572 today, the short-term trend will turn bullish. In this case, consider long trades on the next trading day with a target in the upper Target Zone of 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B at 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1621.
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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