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.
Yesterday, oil prices rebounded again.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has failed to settle above the resistance A at 90.86–90.31.
- XAUUSD: Gold is entering a sideways trend.
- EURUSD: The euro is pulling back.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price climbed during a correction. As a result, the short trades opened near the resistance A at 90.86–90.31 were closed at breakeven. The asset attempted to break above the resistance A but fell below this zone at the end of the US trading session.
The short-term downtrend remains intact for today. Thus, consider short trades near the resistance A, with the first target at 87.85 and the second one at 84.84.
USCrude Trading Ideas for Today:
Sell near resistance A at 90.86–90.31. TakeProfit: 87.85, 84.84. StopLoss: 91.97.
Gold Forecast for Today: XAUUSD Analysis
The gold price is declining. If the correction continues today, the metal may test the support A at 4,718–4,702. Once this support is tested, consider long trades, with the first target at 4,787 and the second one at 4,871.
If the price breaks below the support A, it may slide to the support B at 4,641–4,618, the trend boundary. Long trades can be opened near this zone.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,718–4,702. TakeProfit: 4,787, 4,871. StopLoss: 4663.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has been trading within a downward correction during the second half of the week. The short-term trend remains bullish. If the correction continues, the price may reach the support A at 1.1715–1.1705. Once this support is tested, consider long trades with the first target at 1.1764 and the second one around 1.1823.
If the euro price begins to rise and exceeds the weekly high, it may hit the Gold Zone at 1.1853–1.1842. Should the EURUSD pair climb even higher, it may reach the Target Zone 2 at 1.1972–1.1950.
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 USCRUDE in real time mode
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