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.
Gold has pulled back to the support zone A at 4,704–4,689.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is poised to pierce the resistance A at 91.99–91.44.
- XAUUSD: Gold is testing the support A at 4,704–4,689.
- EURUSD: The euro is pulling back, possibly targeting the support A at 1.1613–1.1603.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued to fall, approaching the second bearish target of 85.97. At this level, the price rebounded and retested the resistance A of 91.99–91.44. If oil breaks above this zone, the correction will continue toward the trend boundary at 95.00–94.18. Short trades can be considered near this zone, with the first target at 90.48 and the second one around 85.97.
If the oil price settles above 95.00, the trend will turn bullish. In this case, one can consider long trades on the next trading day, with the target in the upper Target Zone of 104.02–102.38.
USCrude Trading Ideas for Today:
Sell near resistance B at 95.00–94.18. TakeProfit: 90.48, 85.97. StopLoss: 96.35.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price declined to the support A at 4,704–4,689. Bulls are keeping the asset above this zone. Therefore, consider long trades with the first target at 4,774 and the second one at 4,858. If gold climbs even higher, the rally may continue toward the Target Zone of 4,972–4,941.
An alternative scenario suggests the price may break below the support A and drop to the support B at 4,628–4,605, the boundary of the short-term uptrend. In this case, consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Hold long trades opened near support A at 4,704–4,689. TakeProfit: 4,774, 4,858. StopLoss: 4,648.
Euro/Dollar Forecast for Today: EURUSD Analysis
This week, the euro started a short-term uptrend. Yesterday, the price attempted to reach the upper Target Zone of 1.1767–1.1734. Today, it is declining within a correction. If the correction persists, the asset may test the support A at 1.1613–1.1603. Once it is tested, consider long trades with the first target at 1.1662 and the second one at the weekly high of 1.1721.
The upper boundary of the uptrend is shifting to 1.1559–1.1543. If the EURUSD pair reaches this zone, long trades can be considered.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1613–1.1603. TakeProfit: 1.1662, 1.1721. StopLoss: 1.1575.
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Price chart of USCRUDE in real time mode
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