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 continued to correct higher today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continues to strengthen within a short-term uptrend.
- XAUUSD: Gold has reached the resistance B of 4,128–4,113.
- EURUSD: The euro has reached the first bearish target of 1.1403.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued to rise and hit the primary target set for the trades opened at the support A of 80.49–80.10. Moreover, the asset hit the Target Zone of 85.56–83.88. If the price breaks above this zone today, the next bullish target will be the Gold Zone of 88.17–87.78.
Consider long trades during a pullback at the support A of 82.17–81.78, with the target at 86.07.
USCrude Trading Ideas for Today:
Buy near support A of 82.17–81.78. TakeProfit: 83.93, 86.07. StopLoss: 80.78.
Gold Forecast for Today: XAUUSD Analysis
The upward correction continued today, pushing the gold price up to the key resistance of the short-term downtrend at 4,128–4,113. If bears manage to defend this zone, short trades can be considered, with the first target at 4,044 and the second one around 3,959.
If the metal pierces the resistance B of 4,128–4,113 from below, the short-term trend will turn bullish. In this case, one may consider long trades on the next trading day, targeting the upper Target Zone of 4,298–4,267.
XAUUSD Trading Ideas for Today:
Sell near resistance B of 4,128–4,113. TakeProfit: 4,044, 3,959. StopLoss: 4,166.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to decline, reaching the first bearish target of 1.1403. If the price breaks below this level, the next target will be 1.1324.
Should bulls hold the 1.1403 level, an upward correction will begin, and the asset may test the resistance B of 1.1482–1.1468. If the price climbs higher, the downtrend will reverse. In this case, consider long trades, targeting the upper Target Zone of 1.1601–1.1576.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B of 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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