Welcome, my fellow traders! I have prepared a price forecast for US Crude, 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.
Oil breaks through the Gold Zone of 90.05–89.64 amid a short-term rally.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pierced the Gold Zone of 90.05–89.64.
- XAUUSD: Gold is falling after hitting the resistance zone B of 4,451–4,436.
- EURUSD: The euro is rising from the support zone B of 1.1585–1.1572.
Oil Price Forecast for Today: USCrude Analysis
Last Friday, the oil price tested the support zone A of 86.89–86.49. Bulls managed to hold this zone. After that, the price began to climb. Today, the asset continued to rise, reached the primary buy target near the September 3 high, and pierced the Gold Zone of 90.05–89.64. The next bullish target is the Target Zone 2 of 94.49–93.68.
Consider long trades during a pullback at the support zone A of 86.71–86.28.
USCrude Trading Ideas for Today:
Buy near support A of 86.71–86.28. TakeProfit: 88.68, 91.07. StopLoss: 85.23.
Gold Forecast for Today: XAUUSD Analysis
Last Friday, gold dropped below the 4,464 level and retreated below resistance B of 4,451–4,436. This means the short-term trend remains bearish.
After falling below resistance B, the gold price rebounded and retested this zone. Traders had an opportunity to initiate short trades during that rebound, with the first target at 4,367 and the second one around 4,282. Therefore, you can hold short trades open today until these targets are reached.
XAUUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 4,451–4,436. TakeProfit: 4,367, 4,282. StopLoss: 4,472.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro price tested the support zone B of 1.1585–1.1572. Bulls defended this zone. After that, the asset began to rise. The first bullish target is 1.1642, and the second is the August high of 1.1711. Consequently, traders can hold long positions opened earlier near support B.
If the EURUSD pair breaks below support B today, the short-term trend will turn bearish. In that case, consider short trades the next trading day, targeting the lower Target Zone of 1.1459–1.1434.
EURUSD Trading Ideas for Today:
Hold long trades opened near support B of 1.1585–1.1572. TakeProfit: 1.1642, 1.1711. StopLoss: 1.1579.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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