Welcome, my fellow traders! I have prepared a price forecast for the 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 declined to the support zone of 65.08–64.87 yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Yesterday, oil tested the support A of 65.08–64.87, but bulls managed to keep the price above this zone.
- XAUUSD: The gold price is rising and approaching the Monday high near the Gold Zone of 5,271–5,249.
- EURUSD: The euro is climbing toward the resistance A of 1.1860–1.1850.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price dropped to the support A of 65.08–64.87 during a correction within the short-term uptrend. However, the asset remained above this support zone. Therefore, long trades can be considered today with the first target at 66.15 and the second one at 67.21.
If the oil price breaks below the support A, the correction will continue to the trend boundary of 64.02–63.70. Long trades can be considered near this zone.
USCrude Trading Ideas for Today:
Buy/Hold long trades opened at support A of 65.08–64.87. TakeProfit: 66.15, 67.21. StopLoss: 64.33.
Gold Forecast for Today: XAUUSD Analysis
Gold extends its short-term uptrend. The price is approaching the Gold Zone of 5,271–5,249. If the asset pierces this zone, the next bullish target will be the Target Zone 2 of 5,504–5,462.
If bears keep the gold price below the Gold Zone, the metal may slide to the support A of 5,036–5,015 during a correction. Consider long trades near this zone with the first target at 5,132 and the second one at 5,249.
XAUUSD Trading Ideas for Today:
Buy near support A of 5,036–5,015. TakeProfit: 5,132, 5,249. StopLoss: 4,961.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is increasing during a correction within the short-term downtrend and is approaching the resistance A of 1.1860–1.1850. Consider short trades near this zone with the first target at 1.1801 and the second one at 1.1742.
If the EURUSD pair breaks below the Target Zone of 1.1758–1.1725 today, the next bearish target will be the Gold Zone of 1.1650–1.1639. Should the euro break above the resistance A, the bullish correction will continue to the resistance B of 1.1920–1.1904.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1860–1.1850. TakeProfit: 1.1801, 1.1742. StopLoss: 1.1887.
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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