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.
The euro keeps sliding within a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading in a short-term uptrend, so long trades can be considered.
- XAUUSD: Gold has reached the first bearish target of 4,040.
- EURUSD: The euro extends its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading within a short-term uptrend. The main bullish target is the Target Zone of 85.56–83.88.
Consider long trades during pullbacks at the strong support A of 76.79–76.41, targeting 78.50 and 80.59.
USCrude Trading Ideas for Today:
Buy near support A of 76.79–76.41. TakeProfit: 78.50, 80.59. StopLoss: 75.45.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price tested resistance A of 4,096–4,086. However, bears managed to defend this zone. As a result, the price began to decline and has now reached the first bearish target of 4,040. The next target is 3,983. Consider moving the remaining short trades to the breakeven point.
If the price climbs and pierces resistance A today, the correction will likely continue toward resistance B of 4,152–4,137. This zone marks the trend boundary, so one may consider short trades near it.
XAUUSD Trading Ideas for Today:
Hold part of short trades opened at resistance A of 4,096–4,086. TakeProfit: 3,983. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term downtrend. The main bearish target is the 1.1324 level. Therefore, consider holding previously opened short trades today, with the stop-loss moved to breakeven, until the target is reached.
If the EURUSD pair starts to rise and breaks above the resistance B of 1.1482–1.1468, the trend will shift to an uptrend. In that case, consider long trades, with a target in the upper Target Zone of 1.1601–1.1576.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B of 1.1482–1.1468. TakeProfit: 1.1324. StopLoss: at breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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