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 have identified entry signals for intraday traders.
Yesterday, gold hit the first target for the short trades opened at resistance B.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is correcting higher today.
- XAUUSD: Gold has reached its first downside target of 4,325.
- EURUSD: The euro is consolidating near the Target Zone of 1.1459–1.1434.
Oil Price Forecast for Today: USCrude Analysis
The oil price is still trading within a short-term downtrend. Yesterday, the price broke below the key support zone of the previous trend at 95.55–94.90. Now, the main downside target is the lower Target Zone of 89.02–87.71.
Consider short trades once the price corrects up to resistance A at 95.66–95.22, with the first target at 93.27 and the second one near yesterday’s low of 90.86.
USCrude Trading Ideas for Today:
Sell near resistance A at 95.66–95.22. TakeProfit: 93.27, 90.86. StopLoss: 96.72.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the first sell target set for the trades opened at resistance B at 4,415–4,398. The next target is at 4,235. To reach this target, the price should settle below 4,325.
If the gold price begins to rise and pierces resistance B, the short-term trend will turn upward. In this case, consider long trades the next trading day, targeting the upper Target Zone of 4,595–4,562.
XAUUSD Trading Ideas for Today:
Hold part of the short trades opened near resistance B at 4,415–4,398. TakeProfit: 4,235. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is consolidating near the Target Zone of 1.1459–1.1434. If the price breaks below this zone, it may fall to the Gold Zone of 1.1375–1.1367.
However, if bulls hold the Target Zone, an upward correction may start, pushing the price up to resistance A at 1.1546–1.1538. Once this resistance is tested, consider short trades, with the first target at 1.1500 and the second near 1.1454.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1546–1.1538. TakeProfit: 1.1500, 1.1454. StopLoss: 1.1565.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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