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 continue to decline.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil has settled below the Gold Zone 2 of 71.19–70.63.
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XAUUSD: Gold has pierced the Target Zone of 4,048–4,015.
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EURUSD: The euro has hit the Target Zone 2 of 1.1322–1.1303.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continue to decline. Yesterday, the asset pierced the Gold Zone 2 of 71.19–70.63. The Target Zone 3 of 65.59–64.46 is the new bearish target.
Consider short positions on rebounds from strong resistance levels in the 75.10–74.54 range. If the price reaches this zone, short positions could be considered with targets of 72.02 and 68.94.
USCrude Trading Ideas for Today:
Sell near resistance A 75.10–74.54. TakeProfit: 72.02, 68.94. StopLoss: 76.49.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend. Yesterday, the price broke through the Target Zone of 4,048–4,015. The 3,937–3,926 range is the new bearish target.
Selling opportunities may appear during corrections. If gold reaches the resistance zone A of 4,081–4,070 during the correction, consider short positions from this area with targets of 4,020 and 3,959.
XAUUSD Trading Ideas for Today:
Sell near resistance A 4,081–4,070. TakeProfit: 4,020, 3,959. StopLoss: 4,109.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro reached the Target Zone 2 of 1.1322–1.1303 yesterday. After that, the price entered a correction. If the correction continues today, the price may reach the resistance A of 1.1430–1.1420. Once this resistance area is tested, consider short positions with targets of 1.1377 and 1.1324.
If the euro pierces the resistance level A today, the price will likely test the trend boundary at 1.1482–1.1468. From this area, short positions can also be considered, targeting this week’s low.
EURUSD Trading Ideas for Today:
Sell near resistance A 1.1430–1.1420. TakeProfit: 1.1377, 1.1324. StopLoss: 1.1455.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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