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.
Gold is trading in a correction within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing support B of 96.63–95.82.
- XAUUSD: Gold is edging higher, but the trend is still bearish.
- EURUSD: The euro is still under selling pressure.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price reached its first buy target of 100.27 and then reversed downward. The asset tried to break below the support B of 96.63–95.82 but failed. Consequently, long trades can still be considered, with the same targets.
If the crude oil price pierces the support B today, the short-term trend will turn bearish. In that case, consider short trades on the next trading day, with a target in the lower Target Zone of 88.54–86.93.
USCrude Trading Ideas for Today:
Buy near support B of 96.63–95.82. TakeProfit: 100.27, 104.72. StopLoss: 93.98.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term downtrend and is approaching the resistance A of 4,609–4,595. Once this zone is tested, consider short trades, with the first target at 4,531 and the second one around 4,453.
If the metal surpasses the resistance A today, the correction may continue to the resistance B of 4,687–4,666. Consider short trades near this zone after it is tested.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,609–4,595. TakeProfit: 4,531, 4,453. StopLoss: 4,648.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend, declining toward the lower Target Zone of 1.1525–1.1492. Upon reaching this zone, the price may rebound and enter a correction. If the asset breaks below the Target Zone, the next bearish target will be the Gold Zone of 1.1429–1.1419.
Should an upward correction begin at current levels, the price may climb to the resistance A of 1.1681–1.1672. Once this zone is tested, consider short trades, with the first target at 1.1629 and the second one around 1.1576.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1681–1.1672. TakeProfit: 1.1629, 1.1576. StopLoss: 1.1705.
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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