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.
Oil is rising within a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the Target Zone of 75.95–75.52.
- XAUUSD: Gold is bouncing off the key support zone of 5,101–5,069 within the short-term uptrend.
- EURUSD: The euro has reached the Target Zone 2 of 1.1531–1.1509 and started to rise in a correction.
Oil Price Forecast for Today: USCrude Analysis
US crude oil is trading in a short-term uptrend. The price is trying to break above the Target Zone of 75.95–75.52. If so, the asset may climb to the Gold Zone of 77.86–77.65.
Long trades can be considered during a correction at the strong support A of 74.01–73.80, with the main target at today’s high.
USCrude Trading Ideas for Today:
Buy near support A of 74.01–73.80. TakeProfit: 75.04, 76.26. StopLoss: 73.29.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price declined to 5,101–5,069, the boundary of the short-term uptrend. However, bulls managed to keep the metal above this zone and pushed it higher. The first bullish target is 5,244, and the second one is the March high of 5,419.
If the price breaks below the support B of 5,101–5,069, the short-term trend will turn bearish. In this case, consider short trades with a target in the 4,783–4,719 zone.
XAUUSD Trading Ideas for Today:
Hold long trades near support B of 5,101–5,069. TakeProfit: 5,244, 5,419. StopLoss: 5,009.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro extended its short-term downtrend yesterday, piercing the Gold Zone of 1.1650–1.1639. After that, the price reached the Target Zone 2 of 1.1531–1.1509. Large short trades were closed in the Target Zone 2, triggering an upward correction. Now, the euro price is approaching the resistance A of 1.1659–1.1638.
Once the resistance A is tested, consider short trades with the first target at 1.1589 and the second one near yesterday’s low of 1.1530. If the EURUSD pair breaks above the resistance A, the correction will continue to the resistance B of 1.1708–1.1692. This zone is the trend boundary, so consider short trades near it.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1659–1.1638. TakeProfit: 1.1589, 1.1530. StopLoss: 1.1675.
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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