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 has failed to pierce the resistance of 1.1605–1.1595.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continues to face bearish pressure.
- XAUUSD: Gold has reached the upper Target Zone of 4,390–4,357.
- EURUSD: The euro remains in a short-term downtrend and is trading below the resistance A of 1.1605–1.1595.
Oil Price Forecast for Today: USCrude Analysis
Oil is still trading in a short-term downtrend. The primary bearish target is the Target Zone of 76.80–75.67.
Short trades can be considered during a correction at the resistance A of 84.64–84.08. The first target will be 81.56, and the second target will be 78.48.
USCrude Trading Ideas for Today:
Sell near resistance A of 84.64–84.08. TakeProfit: 81.56, 78.48. StopLoss: 86.08.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold continued to rise, reaching the Target Zone of 4,390–4,357. After that, traders began locking in profits, triggering a downward correction. If the correction persists today, the metal may slide to the support A of 4,258–4,246. Once this zone is tested, consider long trades, with the first target at 4,308 and the second one at 4,369.
If the gold price breaks below the support A today, the correction will extend to the support B of 4,202–4,185. This zone is the trend boundary. Consider long trades near it.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,258–4,246. TakeProfit: 4,308, 4,369. StopLoss: 4,219.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has failed to break through the resistance A of 1.1605–1.1595. The short-term trend is bearish. Therefore, consider holding short trades initiated at the resistance A. The first bearish target is 1.1552, and the second one is 1.1499.
An alternative scenario involves a breakout above the resistance A. In this case, the upward correction will continue, targeting the resistance B of 1.1658–1.1643. Once this zone is tested, short trades may also be considered.
EURUSD Trading Ideas for Today:
Hold short trades opened at 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.
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.
