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 may turn the short-term trend upward.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the resistance B at 92.99–92.17 and is poised to turn bullish.
- XAUUSD: Gold remained above the support B at 4,372–4,349 and started to rise.
- EURUSD: The euro is falling within a short-term downtrend toward its first target of 1.1500.
Oil Price Forecast for Today: USCrude Analysis
The oil price may shift to a short-term uptrend by breaking above the key resistance zone of 92.99–92.17. If the asset closes above this zone today, the downtrend will reverse, and one may consider long trades next week with a target in the upper Target Zone of 102.02–100.38.
If the oil price stays below the resistance B today, consider short trades with the first target at 88.47 and the second one at 83.97.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price broke below the support A at 4,423–4,405 and declined to the support B at 4,372–4,349, the boundary of the short-term uptrend. Bulls managed to keep the asset above this zone. Today, prices started rising during the Asian trading session. So, the first bullish target is 4,477, and the second one is 4,602.
If the metal breaks below the support B today, the short-term trend will shift to a downtrend. Therefore, one may consider short trades next week, targeting the lower Target Zone at 4,143–4,097.
XAUUSD Trading Ideas for Today:
Buy near 4,410. TakeProfit: 4,477, 4,602. StopLoss: 4,350.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. This week, the price tested the resistance B at 1.1589–1.1572, but sellers defended it. Toward the end of the week, the asset began to decline and is now approaching the first bearish target at 1.1500. If the euro falls even lower today, the next target will be 1.1410.
An alternative scenario suggests that the EURUSD pair may grow and pierce the resistance B, closing the trading day above it. In this case, the trend will turn bullish, so one may consider long trades next week, targeting the upper part of the Target Zone at 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Hold short trades opened at the resistance B at 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1617.
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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