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.
Oil prices are still rising.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has approached the upper Target Zone of 96.66–95.04.
- XAUUSD: Gold is testing the support A of 4,721–4,704.
- EURUSD: The euro has breached the support A of 1.1741–1.1730.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to rise today, reaching the upper Target Zone of 96.66–95.04. If the asset breaks above this zone, the next bullish target will be the Gold Zone of 100.97–100.43.
An alternative scenario suggests that after reaching the Target Zone, the price may enter a correction and test the support A at 90.41–89.87. Consider long trades near this zone, with the first target at 92.84 and the second one at today’s high of 95.80.
USCrude Trading Ideas for Today:
Buy near support A at 90.41–89.87. TakeProfit: 92.84, 95.80. StopLoss: 88.50.
Gold Forecast for Today: XAUUSD Analysis
The gold price is undergoing a correction within a short-term uptrend. This week, the price has been testing the support A at 4,721–4,704. So far, bulls are holding this zone. Therefore, consider keeping long trades open today, targeting 4,798 and 4,891.
If the metal breaks below the support A today, the correction will continue to the support B at 4,636–4,610, the boundary of the short-term trend. Once this zone is tested, long trades can be considered.
XAUUSD Trading Ideas for Today:
Hold long trades opened at support A of 4,721–4,704. TakeProfit: 4,798, 4,891. StopLoss: 4,665.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price has broken below the support A at 1.1741–1.1730. Therefore, the correction within the short-term uptrend is likely to continue toward the support B at 1.1687–1.1670. Long trades can be considered near this zone, with the first target at 1.1760 and the second one around 1.1849.
If the EURUSD pair pierces the support B, the short-term trend will turn bearish. In this case, consider selling the euro on the next trading day, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Buy near support B at 1.1687–1.1670. TakeProfit: 1.1760, 1.1849. StopLoss: 1.1629.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of USCRUDE in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
