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 broken below the support A of 4,721–4,704 today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has tested the Target Zone of 96.66–95.04 and is pulling back.
- XAUUSD: Gold continues to retreat.
- EURUSD: The euro is testing the support B of 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price tested the Target Zone of 96.66–95.04 but failed to pierce it. Today, the asset is pulling back.
If the correction continues, the price may fall to the support A of 91.62–91.08. Consider long trades near this zone, with the first target at 94.07 and the second one at 97.01.
Alternatively, the oil price may rally and break above the Target Zone. In this case, the uptrend will persist, and the next bullish target will be the Gold Zone 100.97–100.43.
USCrude Trading Ideas for Today:
Buy near support A at 91.62–91.08. TakeProfit: 94.07, 97.01. StopLoss: 89.68.
Gold Forecast for Today: XAUUSD Analysis
Gold has breached the support A of 4,721–4,704. Thus, the correction within the short-term uptrend continues. The price will likely decline to the support B at 4,636–4,610, the trend boundary. Long trades can be considered near this zone, with the first target at 4,751 and the second one at 4,891.
Should the metal settle below 4,610, the trend will turn bearish. In this case, short trades can be considered, with the target in the lower Target Zone of 4,381–4,330.
XAUUSD Trading Ideas for Today:
Buy near support B at 4,636–4,610. TakeProfit: 4,751, 4,891. StopLoss: 4,552.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price went lower yesterday, reaching the support B at 1.1687–1.1670. This zone is the key support for the short-term uptrend. Therefore, one may consider long trades near this zone, with the first target at 1.1760 and the second one at 1.1849.
If the EURUSD pair breaks below the support B today, the trend will switch to a downward one. In this case, consider selling the euro, targeting the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Hold long trades opened at support B of 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.
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Price chart of XAUUSD in real time mode
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