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 reached the support A of 4,901–4,080.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil has tested the resistance A of 73.23–72.67.
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XAUUSD: Gold is rising from the support A of 4,091–4,080.
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EURUSD: The euro has reached the first bearish target of 1.1403.
Oil Price Forecast for Today: USCrude Analysis
Oil has reached the resistance A of 73.23–72.67 within a correction, trading in the short-term downtrend. Near this resistance zone, short positions can be considered with targets of 70.15 and 67.06.
If the resistance A is pierced today, the correction will continue toward the resistance B of 76.31–75.47. This zone marks the trend boundary. Consequently, short positions may also be considered near this area.
USCrude Trading Ideas for Today:
Sell / Hold short trades opened at resistance A 73.23–72.67. TakeProfit: 70.15, 67.06. StopLoss: 74.65.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the support A of 4,901–4,080. Bulls managed to keep the price above this level. As a result, the price is approaching the first bullish target of 4,141. Once this level is reached, it will be possible to close part of long positions and move the rest to a break-even point. The second upside target will be the July 6 high around 4,202.
If the support A is broken through today, the correction will continue to the support B of 4,036–4,019.
XAUUSD Trading Ideas for Today:
Buy / Hold long trades opened at support A 4,091–4,080. TakeProfit: 4,141, 4,202. StopLoss: 4,052.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has continued to fall today. As a result, the price has reached the first bearish target, declining from the resistance B of 1.1482–1.1468. If the 1.1403 level is broken through, the next bearish target will be the June low of 1.1324. The June low is near the Target Zone 2 of 1.1322–1.1303. Consequently, once the price reaches this zone, an upward correction can be expected.
If the euro pierces the resistance B today, the short-term downtrend will likely reverse. In this case, starting the next trading day, consider buying the euro with a target in the upper Target Zone of 1.1641–1.1612.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B 1.1482–1.1468. TakeProfit: 1.1324. StopLoss: 1.1512.
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Price chart of XAUUSD in real time mode
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