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 is slightly pulling back after reaching swing highs on Friday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is correcting lower from the Target Zone of 86.82–85.61.
- XAUUSD: Gold has settled above the Gold Zone 2 of 4,585–4,575.
- EURUSD: Consider long trades during pullbacks at strong support levels.
Oil Price Forecast for Today: USCrude Analysis
Oil has failed to break through the upper Target Zone of 86.82–85.61 and is now falling within a downward correction. If the price reaches support A of 83.32–82.92, long trades can be considered, with the first target at 85.14 and the second one around 87.36.
If the oil price breaks below the support A, the correction will continue to support B of 81.30–80.70.
USCrude Trading Ideas for Today:
Buy near support A of 83.32–82.92. TakeProfit: 85.14, 87.36. StopLoss: 81.86.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to strengthen. Last Friday, the price pierced the Gold Zone 2 of 4,585–4,575. The next bullish target is the Target Zone 3 of 4,698–4,677.
Consider long trades during a pullback at support A of 4,557–4,546 once a corresponding signal appears.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,557–4,546. TakeProfit: 4,603, 4,659. StopLoss: 4,520.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is undergoing a minor correction after reaching swing highs on Friday. Furthermore, the price broke through the Gold Zone of 1.1668–1.1660 on Friday. Therefore, the next bullish target is the Target Zone 2 of 1.1761–1.1744.
If the correction continues today, the euro may slide to support A of 1.1627–1.1619. After this zone is tested, one may consider long trades, with the first target at 1.1665 and the second one near last week’s high of 1.1711.
EURUSD Trading Ideas for Today:
Buy near support A of 1.1627–1.1619. TakeProfit: 1.1665, 1.1711. StopLoss: 1.1597.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
