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.
Oil breaks through key support of the short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil turns bearish in the short term.
- XAUUSD: Gold is trading in a correction.
- EURUSD: The euro is consolidating near support of 1.1669–1.1665.
Oil Price Forecast for Today: USCrude Analysis
The oil price has pierced the key support of 81.30–80.70 within the short-term uptrend. If the price closes below this zone today, one may consider short positions on the next trading day, with the target in the lower Target Zone.
If the oil price rebounds to support B of 81.30–80.70 during the trading session, one may consider long trades, with the first target at 84.02 and the second one around 87.36.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is correcting lower within the short-term uptrend. Yesterday, the price broke below the support zone of 4,645–4,640 but managed to recover to that zone by the end of the trading day. Today, the metal is testing the 4,645–4,640 zone again. If bulls hold this level, long trades can be considered, with the first target at today’s high and the second one near 4,696.
If the correction continues, the price will likely fall to support A of 4,594–4,583. Long trades can be considered near this zone.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,594–4,583. TakeProfit: 4,640; 4,696. StopLoss: 4,558.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is consolidating near the 1.1665 level. The support zone of 1.1669–1.1665 is located near this level. If a bullish pattern forms near this support, long trades can be considered, with the first target at 1.1688 and the second one at 1.1711.
If the euro price breaks below yesterday’s low today, the correction will continue down to support A of 1.1627–1.1619. Once this zone is tested, one may consider long trades.
EURUSD Trading Ideas for Today:
Buy near support of 1.1669–1.1665. TakeProfit: 1.1688, 1.1711. StopLoss: 1.1654.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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