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 correcting higher.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has dropped below the May low.
- XAUUSD: Gold is poised to settle below the Gold Zone of 4,224–4,213.
- EURUSD: The euro is trying to climb from the Target Zone of 1.1525–1.1492.
Oil Price Forecast for Today: USCrude Analysis
Oil continued its short-term downtrend yesterday, breaking below the May low. Also, the price attempted to penetrate the lower Target Zone of 88.54–86.93.
Bulls are keeping the price within the Target Zone. Therefore, an upward correction may start. If so, the asset may test the resistance A of 90.93–90.37. Once it is tested, short trades can be considered.
USCrude Trading Ideas for Today:
Sell near resistance A of 90.93–90.37. TakeProfit: 87.84, 84.76. StopLoss: 92.30.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price fell further and pierced the Target Zone 2 of 4,335–4,313. In addition, the metal reached the Gold Zone 2 of 4,224–4,213. Today, bears are trying to hold the price below the Gold Zone. If they succeed, the next bearish target will be the Target Zone 3 of 4,113–4,090.
If not, an upward correction will begin, targeting the resistance A at 4,294–4,283. Once this zone is tested, short trades can be considered.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,294–4,283. TakeProfit: 4,233, 4,172. StopLoss: 4,322.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is correcting higher after reaching the Target Zone of 1.1525–1.1492. The correction may continue up to the resistance A of 1.1605–1.1595. After this zone is tested, consider short trades, targeting 1.1552 and 1.1499.
If the EURUSD pair falls below this week’s low, the next bearish target will be the Gold Zone of 1.1429–1.1419.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1605–1.1595. TakeProfit: 1.1552, 1.1499. StopLoss: 1.1628.
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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