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 maintaining a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the upper Target Zone of 85.56–83.88.
- XAUUSD: Gold is undergoing an upward correction.
- EURUSD: The euro may continue to decline toward 1.1403.
Oil Price Forecast for Today: USCrude Analysis
Today, oil opened with an upward gap and reached the upper Target Zone of 85.56–83.88. If the price pierces this zone, the next upside target will be the Gold Zone of 88.17–87.78.
If bears hold the Target Zone, a downward correction will begin. During the correction, the oil price may test the support zone A of 80.49–80.10. Once it is tested, consider long trades, with the first target at 82.26 and the second one at today’s high of 84.39.
USCrude Trading Ideas for Today:
Buy near support A of 80.49–80.10. TakeProfit: 82.26, 84.39. StopLoss: 79.13.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade within a short-term downtrend. The primary bearish target is the lower Target Zone of 3,897–3,866.
Consider short trades during pullbacks at resistance A of 4,072–4,062 once it is tested. The first target will be 4,016, and the second one will be at last week’s low of 3,959.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,072–4,062. TakeProfit: 4,016, 3,959. StopLoss: 4,098.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro remains in a short-term downtrend. Last week, the price tested the resistance zone B of 1.1482–1.1468 but failed to break above it. Consequently, this week, consider holding existing short trades until the asset reaches the first target at 1.1403 and the second one at the June low of 1.1324.
If the EURUSD pair starts to rise and breaches resistance B, the short-term trend will turn bullish. In that case, consider long positions on the next trading day, targeting the upper Target Zone of 1.1601–1.1576.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 1.1482–1.1468. TakeProfit: 1.1403, 1.1324. StopLoss: 1.1520.
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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