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.
The euro reaches the second sell target.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising from support A at 98.82–98.38, reaching its first buy target at 100.82.
- XAUUSD: Gold attempted to reach resistance A at 4,088–4,078.
- EURUSD: The euro continued to fall, eventually reaching 1.1113.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price pulled back and tested support A at 98.82–98.38. Buyers held this zone, and today the price began to rise, reaching the first buy target near 100.82. The second target is last week’s high of 103.25.
Some of the long positions opened at support A should have been closed near the first target. The remaining positions can be moved to the breakeven point.
USCrude Trading Ideas for Today:
Hold part of the long trades opened at support A at 98.82–98.38. TakeProfit: 103.25. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is correcting higher within a short-term downtrend. Today, the price attempted to test resistance A at 4,088–4,078 but failed to reach it. So, the correction may extend today.
If the correction continues and the asset tests resistance A, consider short trades, with the first target at 4,031.
Should the gold price decline from current prices, refrain from entering new short trades.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,088–4,078. TakeProfit: 4,031, 3,975. StopLoss: 4,113.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has just reached its second sell target set for the trades opened at resistance B at 1.1251–1.1239. This target was the 1.1113 level. Thus, the price has reached two key targets within the short-term downtrend. If the price breaks through the Target Zone of 1.1123–1.1106, it may decline toward the Gold Zone of 1.1039–1.1031.
If bulls defend the Target Zone, a new correction will begin.
EURUSD Trading Ideas for Today:
Watch the market.
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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