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.
Yesterday, gold tested the resistance B of 4,734–4,713.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is falling from the resistance B of 95.78–94.97.
- XAUUSD: Gold is testing the boundary of the short-term downtrend at 4,734–4,713.
- EURUSD: The euro is poised to break above the 1.1760 level.
Oil Price Forecast for Today: USCrude Analysis
Yesterday morning, oil continued to decline. As a result, the price reached the first bearish of 89.85. However, buying activity picked up during the US trading session, and the asset broke above the resistance A of 92.82–92.28. After that, oil climbed to the resistance B of 95.78–94.97, the trend boundary, but bears managed to keep the price below this zone.
Therefore, consider short trades today, with the first target at 91.34 and the second one at 86.89, once the price retests the resistance B.
USCrude Trading Ideas for Today:
Sell near resistance B of 95.78–94.97. TakeProfit: 91.34, 86.89. StopLoss: 97.43.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tested the resistance zone B at 4,734–4,713. Bears managed to defend this zone. Consequently, consider short trades today, with the first target at 4,617 and the second one around 4,500, once a bearish pattern forms.
If the gold price begins to rise and settles above the resistance B, the short-term downtrend will reverse. In that case, consider long trades on the next trading day, targeting the upper Target Zone of 4,968–4,925.
XAUUSD Trading Ideas for Today:
Sell near resistance B of 4,734–4,713. TakeProfit: 4,617, 4,500. StopLoss: 4,779.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading within a short-term uptrend and is trying to breach the 1.1760 level. If so, the rally will continue toward the second target of 1.1849. If the price rises higher and breaks above the Gold Zone of 1.1853–1.1842, it may climb to the Target Zone 2 of 1.1972–1.1950.
If the euro price begins to decline and breaks below the support zone B of 1.1687–1.1670, the short-term trend will shift to bearish. In this case, consider short trades on the next trading day, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Watch the market.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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