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 continues to pull back.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising after testing support A of 79.50–79.10, reaching the first bullish target.
- XAUUSD: Gold has pierced support A of 4,347–4,336.
- EURUSD: The euro may exceed last week’s high.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil prices corrected lower and tested support A at 79.50–79.10. After that, bulls stepped in. So, traders had an opportunity to open long positions and hold them until the asset hit the first target of 81.33. The next bullish target will be 83.54.
If the price breaks above the 83.54 level, the rally may continue toward the upper Target Zone of 86.82–85.61.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support A of 79.50–79.10. TakeProfit: 83.54. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
The correction continued today. As a result, gold broke through support A of 4,347–4,336. Now, the price may decline further toward the trend boundary at 4,295–4,280. Once this zone is tested, consider long trades, with the first target at 4,365 and the second one around 4,449.
If the gold price returns to support A and retests it, one can consider long trades, with the first target at 4,393 and the second one near 4,449.
XAUUSD Trading Ideas for Today:
Buy near support B of 4,295–4,280. TakeProfit: 4,365, 4,449. StopLoss: 4,249.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro remains in a short-term uptrend. The primary bullish target is last week’s high of 1.1580. However, to open long positions at favorable prices, wait for the price to test one of the strong support levels. Thus, consider long trades at support A of 1.1496–1.1488, with the first target at 1.1535 and the second one at 1.1580.
If the euro continues to rise from current levels and breaks above last week’s high, then the support levels should be adjusted.
EURUSD Trading Ideas for Today:
Buy near support A of 1.1496–1.1488. TakeProfit: 1.1535, 1.1580. StopLoss: 1.1468.
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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