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 continued to weaken yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pierced the Target Zone of 76.80–75.67.
- XAUUSD: Gold has reached its first bullish target of 4,320.
- EURUSD: The euro may break through the Target Zone of 1.1525–1.1492.
Oil Price Forecast for Today: USCrude Analysis
The price of oil keeps dropping. Today, the asset plunged below the June 17 low and breached the Target Zone 2 of 76.80–75.67. A new bearish target is the Gold Zone 2 of 71.19–70.63. If the price breaks below this zone, it may reach the Target Zone 3 of 65.59–64.46.
Consider short trades during a pullback at the resistance A of 79.50–78.94, with the first target at 76.42 and the second one at today’s low of 73.33.
USCrude Trading Ideas for Today:
Sell near resistance A of 79.50–78.94. TakeProfit: 76.42, 73.33. StopLoss: 80.90.
Gold Forecast for Today: XAUUSD Analysis
The gold price is rising after touching the support A of 4,271–4,260. Today, the metal reached the first bullish target of 4,320. If the price settles above this level, the rally may extend to yesterday’s high at 4,382.
If the price breaks below the support B of 4,215–4,198, the trend will turn bearish. In that case, short trades can be considered, with the target in the lower Target Zone of 4,048–4,015.
XAUUSD Trading Ideas for Today:
Hold long trades opened near support A of 4,271–4,260. TakeProfit: 4,382. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to decline. As a result, all bearish targets for the trades opened at the resistance A of 1.1605–1.1595 were reached. If the price settles below the Target Zone of 1.1525–1.1492, it may slide to the Gold Zone of 1.1429–1.1419.
If bulls hold the Target Zone, an upward correction may begin, pushing the price up to the resistance A of 1.1583–1.1574.
EURUSD Trading Ideas for Today:
Watch the market.
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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