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 maintains its short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price has dropped to the first bearish target of 87.85.
- XAUUSD: Gold is trying to settle above the Gold Zone at 4,832–4,814.
- EURUSD: The euro continues to rise.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the crude oil price tested the resistance A at 90.86–90.31, but bears managed to keep the asset below this zone. As a result, the price began to decline, reaching the first sell target of 87.85 by the end of the trading day. Therefore, consider shifting the remaining short trades to the breakeven point and holding them open until the asset reaches the second target of 84.84.
If oil starts to increase today, the bullish correction may extend, pushing the price above yesterday’s high. Should the price break above the resistance A, it may rally to the resistance B at 93.87–93.05.
USCrude Trading Ideas for Today:
Hold part of short trades opened at resistance A at 90.86–90.31. TakeProfit: 84.84. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
The gold price remains in a short-term uptrend. The metal is attempting to settle above the Gold Zone at 4,832–4,814. If so, the next target will be the Target Zone 2 at 4,972–4,941.
If the asset begins to decline today, it may reach the support A at 4,718–4,702. Once this zone is tested, consider long trades with the first target at 4,787 and the second one around 4,871.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,718–4,702. TakeProfit: 4,787, 4,871. StopLoss: 4,663.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is still climbing. The price has approached the Gold Zone at 1.1853–1.1842. If bullish pressure picks up today, the asset may break above the Gold Zone and head for the Target Zone 2 at 1.1972–1.1950. Should the price stay below the Gold Zone, a correction may occur.
The nearest support levels are the support A at 1.1715–1.1705 and support B at 1.1661–1.1645. If the price pulls back to the support A, long trades can be considered with the first target at 1.1764 and the second one at 1.1823.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1715–1.1705. TakeProfit: 1.1764, 1.1823. StopLoss: 1.1676.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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