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.
The oil price is correcting slightly higher.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is trying to rebound to resistance A at 87.91–87.46.
- XAUUSD: Gold is bouncing off support A at 4,047–4,036.
- EURUSD: The euro declined after hitting the trend boundary at 1.1243–1.1230.
Oil Price Forecast for Today: USCrude Analysis
The crude oil price is correcting slightly higher. The short-term trend remains bearish. If the correction continues today, the price may reach resistance A at 87.91–87.46. Once this zone is tested, consider short trades, with the first target at 85.49 and the second target at yesterday’s low of 83.03.
If the oil price breaks above the resistance zone A, the correction will extend toward resistance B at 90.34–89.68.
USCrude Trading Ideas for Today:
Sell near resistance A at 87.91–87.46. TakeProfit: 85.49, 83.03. StopLoss: 89.00.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tested the support zone A at 4,047–4,036 during a correction. Bulls managed to hold this zone. Today, the price may continue its upward movement, but you should wait for confirmation before opening long positions.
If a buy pattern emerges near support A, consider long trades, with the first target at 4,092 and the second target around 4,148. If the price breaks below the support A, the correction will continue toward support B at 3,996–3,981. This zone marks the boundary of the short-term uptrend, and long positions can be considered near this area as well.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tested the key resistance of the short-term downtrend at 1.1243–1.1230 for the second time. Bears defended this zone. As a result, the price began to decrease rapidly and reached the first sell target of 1.1173.
The price broke through the 1.1173 level. This means the next sell target is the 1.1123–1.1106 zone. If the asset pierces this zone, the decline will likely continue toward the Gold Zone of 1.1039–1.1031.
EURUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance B at 1.1243–1.1230. TakeProfit: 1.1115. StopLoss: at breakeven.
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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