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.
Yesterday, gold dropped to support A of 4,594–4,583.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pierced 81.30–80.70, the boundary of the short-term trend.
- XAUUSD: Gold is falling after reaching the first bullish target.
- EURUSD: The euro is trading in a downward correction.
Oil Price Forecast for Today: USCrude Analysis
The oil price has broken through key support of 81.30–80.70 within the short-term uptrend. If the price closes below this zone in the US trading session, one may consider short trades on the next trading day, with the primary target at the lower Target Zone of 75.24–74.03.
If bulls hold the key support level and the price rises, consider long trades according to the pattern, with the first target at 84.02 and the second one at 87.36.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached support A of 4,594–4,583. Bulls managed to defend this zone, and the price climbed to the first bullish target of 4,640. However, the asset did not reach the second target and is now correcting lower again.
If the price drops to support A, the remaining long trades will be closed at breakeven. If the asset settles below support A, the correction will continue toward support B of 4,542–4,527, the trend boundary. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support A of 4,594–4,583. TakeProfit: 4,696. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is correcting lower and approaching support A of 1.1627–1.1619. Yesterday, the price broke below the support zone of 1.1669–1.1665. Thus, the pair may test support A today. Once this zone is tested, consider long trades, with the first target at 1.1665 and the second one at 1.1711.
If the euro price returns to support of 1.1669–1.1665 today, long trades can be considered.
EURUSD Trading Ideas for Today:
Buy near support A of 1.1627–1.1619. TakeProfit: 1.1665, 1.1711. StopLoss: 1.1597.
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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