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.
Yesterday, gold’s short-term trend continued.
The article covers the following subjects:
Major Takeaways
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USCrude: Selling pressure remains strong, preventing the price from forming a valid corrective pattern.
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XAUUSD: Gold has hit all bearish targets.
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EURUSD: The euro is retreating from the resistance A of 1.1430–1.1420.
Oil Price Forecast for Today: USCrude Analysis
Oil is attempting to correct upwards following a prolonged decline. If the correction continues today, the price may climb to the resistance A of 74.63–74.07. Once this level is hit, consider short positions 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
Yesterday, gold continued to trade within its short-term downtrend. As a result, the price reached the first bearish target around 4,020. Today, the decline continued, and the last target was reached near 3,959. Thus, short positions opened at the resistance A of 4,081–4,070 proved to be a viable strategy.
An upward correction is currently underway, with the price approaching the new resistance zone A of 4,066–4,054. If the price rebounds from this zone, short positions may be considered. If the price continues to rise, the upward correction will likely continue.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is falling from the resistance A of 1.1430–1.1420 in the short-term downtrend, targeting 1.1377 and 1.1324. Therefore, short positions can be kept open today.
If the price pierces the resistance A today, the correction will likely continue to the resistance B of 1.1482–1.1468. This level acts as a trend boundary. Therefore, selling opportunities may also be considered near this level.
EURUSD Trading Ideas for Today:
Hold short trades opened at 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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Price chart of XAUUSD in real time mode
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