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 settled below the Gold Zone 2 of 71.19–70.63 last week.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil is trading in a short-term downtrend, though more favorable price levels are needed to open short positions.
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XAUUSD: Gold is retreating from the resistance A of 4,081–4,070.
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EURUSD: The euro is approaching the resistance A of 1.1430–1.1420.
Oil Price Forecast for Today: USCrude Analysis
Last week, oil prices settled below the Gold Zone 2 of 71.19–70.63. Today, the main target for short positions is the Target Zone 3 of 65.59–64.46.
Short positions can be considered on pullbacks from strong resistance levels. The nearest resistance is in the 74.63–74.07 range. If the price reaches this area, short positions could be considered with targets of 71.54 and 68.47.
USCrude Trading Ideas for Today:
Sell near resistance A of 74.63–74.07. TakeProfit: 71.54, 68.47. StopLoss: 75.99.
Gold Forecast for Today: XAUUSD Analysis
Gold prices have reached the resistance A of 4,081–4,070 during the correction. Bears managed to keep the price below this resistance level. As a result, short positions can be considered near this area with a first target at 4,020. The second target is last week’s low of 3,959.
If the price breaks through the resistance level A today, the correction will continue to the resistance level B of 4,142–4,126. This zone acts as a trend boundary. Accordingly, short positions can also be considered in this area.
XAUUSD Trading Ideas for Today:
Hold short trades opened at resistance (A) 4,081–4,070. TakeProfit: 4,020, 3,959. StopLoss: 4,109.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has approached the resistance A of 1.1430–1.1420 during the correction. The short-term trend remains bearish. As a result, short positions can be considered near this resistance level with a first target at 1.1377 and a second target near last week’s low of 1.1324.
If the resistance level A is broken through, the correction will continue toward the resistance B of 1.1482–1.1468. This zone marks the trend boundary. Short positions may also be considered at this level.
EURUSD Trading Ideas for Today:
Sell near resistance A of 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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Price chart of USCRUDE in real time mode
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