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 continued to fall during the Asian trading session today.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil continues to decline.
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XAUUSD: Gold is trading below the Target Zone of 4,390–4,357.
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EURUSD: The euro is testing the resistance A of 1.1605–1.1595.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to fall during the Asian trading session today. Market participants are trying to keep prices below the Target Zone 2 of 76.80–75.67. If they succeed, the next bearish target will be the Gold Zone 2 of 71.19–70.63.
As a result, any pullbacks from strong resistance levels may offer selling opportunities. The nearest resistance zone is 80.58–80.02. The first sell target from this zone is 77.50. The second target stands at 71.41.
USCrude Trading Ideas for Today:
Sell near resistance A of 80.58–80.02. TakeProfit: 77.50, 74.41. StopLoss: 81.95.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. On June 15, the price reached the Target Zone of 4,390–4,357. If this zone is broken to the upside, the rally may continue toward the Target Zone of 4,479–4,468.
If sellers manage to hold the price below the Target Zone, gold prices may begin to decline, with the support A of 4,258–4,246 being a bearish target. Once the support A is reached, consider long positions with targets at 4,308 and 4,369.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,258–4,246. TakeProfit: 4,308, 4,369. StopLoss: 4,219.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trying to break through the resistance A of 1.1605–1.1595. If buyers succeed, the next target of the corrective move will be the resistance B at 1.1658–1.1643. Once the price tests the resistance B, short trades can be considered.
If sellers keep the price below the resistance A, consider selling the euro with the first target at 1.1552 and the second target at 1.1499.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance A of 1.1605–1.1595. TakeProfit: 1.1552, 1.1499. StopLoss: 1.1628.
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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