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 continues to fall.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is correcting lower.
- XAUUSD: Gold has reached the first bearish target of 4,044.
- EURUSD: The euro price has settled below the 1.1403 level.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued to rise, piercing the Gold Zone of 88.17–87.78. After that, the price hit the Target Zone 2 of 93.02–92.24, and a downward correction started.
If the correction persists today, the price may slide to support A of 88.33–87.94. Consider long trades near this zone, with the first target at 90.09 and the second one around 92.23.
USCrude Trading Ideas for Today:
Buy near support A of 88.33–87.94. TakeProfit: 90.09, 92.23. StopLoss: 86.90.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price continued to drop, reaching the first target of 4,044. If the metal settles below this level, it may decline toward 3,959.
An alternative scenario suggests that the gold price may rise and break above the resistance B of 4,128–4,113. In this case, the short-term trend will turn bullish, and one may consider long trades, targeting the upper Target Zone of 4,298–4,267.
XAUUSD Trading Ideas for Today:
Hold part of short trades near resistance B of 4,128–4,113. TakeProfit: 3,959. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to decline. This week, the asset settled below the 1.1403 level. Consequently, the price may fall further to 1.1324 next week.
If the EURUSD pair breaks below the Target Zone 2 of 1.1322–1.1303, the next target will be the Gold Zone 2 of 1.1238–1.1229.
If the euro begins to rise and breaks through resistance B, the short-term trend will turn upward. 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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