Welcome, my fellow traders! I have prepared a price forecast for 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.
Gold prices continued to fall on Friday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has corrected lower toward support A at 99.54–99.10.
- XAUUSD: Gold has reached the support zone of 3,875–3,865 and is correcting higher today.
- EURUSD: The euro has reached its first sell target of 1.1150.
Oil Price Forecast for Today: USCrude Analysis
Last week, oil reached the Gold Zone of 104.47–104.03 within a short-term uptrend. After reaching this zone, the price corrected lower.
Today, the price declined to support A at 99.54–99.10. Consider long trades near this zone, with the first target at 101.54 and the second target at last week’s high of 103.98.
USCrude Trading Ideas for Today:
Buy near support A at 99.54–99.10. TakeProfit: 101.54, 103.98. StopLoss: 98.00.
Gold Forecast for Today: XAUUSD Analysis
Gold prices fell further last Friday. As a result, the metal broke through the Target Zone of 3,978–3,957 and reached the Gold Zone of 3,875–3,865. Today, the price is correcting higher.
If the correction persists, gold may reach resistance A at 3,981–3,971. Consider short trades near this zone, with the first target at 3,926 and the second target at last week’s low of 3,870.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 3,981–3,971. TakeProfit: 3,926, 3,870. StopLoss: 4,005.
Euro/Dollar Forecast for Today: EURUSD Analysis
On Friday, sellers held the resistance zone A at 1.1197–1.1188. As a result, the euro price dropped and reached the first sell target of 1.1150. However, buyers managed to defend this level, so today the price has started to rise.
During the corrective rally, the price hit resistance A. Therefore, watch for a test of the 1.1197–1.1188 zone today. If the EURUSD pair breaks above this zone, the next upside target will be the trend boundary at 1.1243–1.1230.
If sellers hold resistance A again, consider opening new short positions with the same targets.
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 XAUUSD in real time mode
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