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 is trading in a bullish trend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pulled back and is now testing the support A at 92.66–92.11.
- XAUUSD: Gold has reached the first bullish target at 4,774.
- EURUSD: The euro has broken above the upper Target Zone at 1.1767–1.1734.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the WTI crude oil spot price retreated to the support A at 92.66–92.11. During today’s Asian trading session, the asset broke below this zone. However, in the European trading session, the price returned to this support. Consequently, if the oil price stays above the support A, long positions can be opened, with the first target at 95.14 and the second one around 98.13.
Should oil drop and settle below the support A, it may plunge to the support B at 89.92–89.10 during a correction.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold rebounded from the support A of 4,704–4,689. Today, the metal continued to climb, reaching the first bullish target around 4,774. The next target is the 4,858 level. If the price settles above this level, a new buy target will be the Target Zone 2 at 4,972–4,941.
However, the asset may decline and break below the support A. In this case, the correction will continue to the trend boundary at 4,628–4,605.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened near support A at 4,704–4,689. TakeProfit: 4,858. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is rising in an uptrend. The currency has pierced the Target Zone at 1.1767–1.1734. If it holds above this resistance zone, the next bullish target will be the Gold Zone at 1.1853–1.1842. Should bears defend the Target Zone, a downward correction may start.
During the correction, the EURUSD pair may decline to the support A at 1.1688–1.1678 or support B at 1.1634–1.1618. Consider long trades near these zones, targeting today’s high at 1.1796.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1688–1.1678. TakeProfit: 1.1737, 1.1796. StopLoss: 1.1650.
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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