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 euro continues to decline within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has tested the support A at 97.91–97.37 and is rising.
- XAUUSD: Gold has reached its second bullish target for the trades opened at the support B at 4,372–4,349.
- EURUSD: The euro is approaching its second bearish target around 1.1418.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil extended its short-term trend and tested the upper Target Zone of 102.02–100.38. Bears managed to keep the price below this zone today, and the market dropped. After that, the asset declined to the support A at 97.91–97.37, but bulls defended this zone.
Bullish targets are at 100.38 and 103.39. Therefore, consider holding long trades opened at the support A today.
If the oil price breaks below the support A, the correction will continue to the support B at 95.18–94.36.
USCrude Trading Ideas for Today:
Hold long trades opened at the support A at 97.91–97.37. TakeProfit: 100.38, 103.39. StopLoss: 95.95.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. The price has reached the second bullish target of 4,602. If the rally continues, the asset may hit the upper Target Zone at 4,689–4,635. If the price settles higher, the next target will be the Gold Zone at 4,832–4,814.
If the gold price falls today, it may reach the support A at 4,466–4,451. Consider long trades near this zone with the first target at 4,535 and the second one at 4,619.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,466–4,451. TakeProfit: 4,535, 4,619. StopLoss: 4410.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to decline within a short-term downtrend. The price is approaching the Gold Zone 2 at 1.1423–1.1412. Consider closing all remaining short trades near this zone. If the asset breaks below the Gold Zone 2, the next bearish target will be the Target Zone 3 at 1.1315–1.1293. If not, a correction may start.
The trend boundary is at 1.1589–1.1572. If the EURUSD price breaks above this zone, the trend will turn bullish. In this case, one may consider long trades with a target in the upper Target Zone of 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B at 1.1589–1.1572. TakeProfit: 1.1418. 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 EURUSD in real time mode
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