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’s short-term uptrend has reversed.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil is trading in a bullish correction.
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XAUUSD: Gold has embarked on a short-term downtrend.
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EURUSD: The euro is testing the Gold Zone of 1.1429–1.1419.
Oil Price Forecast for Today: USCrude Analysis
The price of oil continues to correct higher today. The short-term trend remains bearish. Consequently, if the correction continues and the resistance A of 78.92–78.36 is reached, short positions can be considered near that level, with a first target of 75.84. The second target for sell positions will be yesterday’s low of 72.76.
If the resistance level A is broken through, the correction may continue to the resistance B of 82.01–81.17. This zone marks the boundary of the short-term trend.
USCrude Trading Ideas for Today:
Sell near resistance A of 78.92–78.36. TakeProfit: 75.84, 72.76. StopLoss: 80.31.
Gold Forecast for Today: XAUUSD Analysis
Today, the short-term trend for gold has shifted to a downtrend. The key support zone of 4,215–4,198 has been breached. The lower Target Zone of 4,048–4,015 is now a bearish target.
Consider selling gold on corrections from strong resistance levels. Strong resistance levels A and B are at 4,244–4,232 and 4,305–4,288, respectively. The main sell target from these levels is located at today’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,244–4,232. TakeProfit: 4,183, 4,121. StopLoss: 4,270.
Euro/Dollar Forecast for Today: EURUSD Analysis
Today, the euro continued its short-term downtrend. As a result, the Gold Zone of 1.1429–1.1419 was reached. Significant selling pressure may begin to subside within this zone. The price may enter an upward correction.
If a correction develops, prices may reach the resistance zone A at 1.1523–1.1513. Once the price tests this resistance, consider short trades with a first target at 1.1470 and a second target near today’s low of 1.1417.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1523 – 1.1513. TakeProfit: 1.1470, 1.1417. StopLoss: 1.1547.
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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