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 corrected to the support B of 4,036–4,019.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil is falling from a key resistance level.
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XAUUSD: Gold is rising from the support level of B 4,036–4,019 and reaching its first buy target.
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EURUSD: The euro is rising again and approaching the resistance B of 1.1482–1.1468.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil reached the key resistance level of 76.31–75.47 in the short-term downtrend. Bears kept the price below this zone. As a result, short positions formed near this resistance level can be kept open with targets of 71.69 and 67.06.
If the resistance B is broken through today, the short-term downtrend will likely reverse. In that case, starting the next trading day, consider buying oil with a target in the upper Target Zone of 85.56–83.88.
USCrude Trading Ideas for Today:
Hold short trades opened at resistance B 76.31–75.47. TakeProfit: 71.69, 67.06. StopLoss: 78.20.
Gold Forecast for Today: XAUUSD Analysis
The downward correction in gold prices continued yesterday. As a result, the support B at 4,036–4,019 was reached. Bulls defended this level, and the price began to increase. Today, it reached the first target in the 4,110 area. The next upside target is 4,202. Therefore, hold long positions opened from the support B.
If the price pierces the 4,019 level, the uptrend will reverse, allowing traders to open short positions.
XAUUSD Trading Ideas for Today:
Hold long trades opened at support B 4,036–4,019. TakeProfit: 4,202. StopLoss: 3,988.
Euro/Dollar Forecast for Today: EURUSD Analysis
After reaching the first bearish target, the euro began to rise. If the rally continues and the resistance B 1.1482–1.1468 is reached, the remaining short positions will be closed at breakeven. In this case, the price may settle above the resistance B. Against this backdrop, the short-term downtrend will reverse, and the upper Target Zone of 1.1641–1.1612 will become a new bullish target.
If prices continue to fall today and the 1.1403 level is broken through, hold the remaining short positions until the price hits the second target in the 1.1324 area.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B 1.1482–1.1468. TakeProfit: 1.1324. StopLoss: at breakeven.
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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