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 trying to continue its decline on Monday.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil remains under bearish pressure.
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XAUUSD: Gold is trying to form a bullish corrective pattern.
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EURUSD: The euro maintains its downward trend.
Oil Price Forecast for Today: USCrude Analysis
Oil continued to trade in a short-term downtrend on Monday morning. The main bearish target is the Gold Zone 2 of 71.19–70.63. The price may undergo an upward correction. If so, crude prices may reach the resistance A of 78.92–78.36. Once this zone is reached, consider short positions with targets of 75.84 and 72.76.
USCrude Trading Ideas for Today:
Sell near resistance A 78.92–78.36. TakeProfit: 75.84, 72.76. StopLoss: 80.31.
Gold Forecast for Today: XAUUSD Analysis
Gold prices are experiencing an upward correction. If the correction continues today, prices will likely reach the resistance A of 4,244–4,232. Once this level is reached, consider short positions with the target of 4,183. The second target will be last week’s low of 4,121.
XAUUSD Trading Ideas for Today:
Sell near resistance A 4,244–4232. TakeProfit: 4,183, 4,121. StopLoss: 4,270.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading within a short-term downtrend. Last week, the key support zone of 1.1429–1.1419 was reached. Bulls managed to keep the price above this key support zone. As a result, an upward correction may begin this week. If the resistance A of 1.1523–1.1513 is reached during the correction, short positions could be considered from that area. The first target will be 1.1470. The second target will be last week’s low of 1.1417.
If the price slides below the Gold Zone today, the next bearish target will be the 1.1322–1.1303 area.
EURUSD Trading Ideas for Today:
Sell near resistance A 1.1523–1.1513. TakeProfit: 1.1470, 1.1417. StopLoss: 1.1547.
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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