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 continues to correct lower.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has bounced off the trend boundary of 81.30–80.70.
- XAUUSD: Gold is trading above support A of 4,594–4,583.
- EURUSD: The euro is falling this week.
Oil Price Forecast for Today: USCrude Analysis
The oil price is rising after hitting the key support of 81.30–80.70 within the short-term uptrend. The first bullish target is 84.02. The second target is last week’s high of 87.36. Therefore, consider holding long trades, which were opened yesterday near support B of 81.30–80.70.
If the price breaks below the support B today, the short-term trend will turn downward. In this case, consider entering short trades on the next trading day, with the target in the lower Target Zone of 75.24–74.03.
USCrude Trading Ideas for Today:
Hold long trades opened at support B of 81.30–80.70. TakeProfit: 84.02, 87.36. StopLoss: 79.08.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading near support A of 4,594–4,583. The short-term trend remains bullish. Therefore, once a buy pattern forms near this zone, one may consider long trades, with the first target at 4,640 and the second one at 4,696.
If the gold price breaks below the support A, the correction will continue down to support B of 4,542–4,527. This zone marks the trend boundary. Consequently, long trades can be considered near it.
XAUUSD Trading Ideas for Today:
Buy at support A of 4,594–4,583. TakeProfit: 4,640, 4,696. StopLoss: 4,570.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to correct lower, approaching support A of 1.1627–1.1619. Once this zone is tested, consider long trades, with the first target at 1.1665 and the second one near the August 21 high.
If the price breaks below the support level A today, the correction will extend toward the trend boundary of 1.1585–1.1572. After the price tests this zone, one may consider long trades, with a primary target at 1.1711.
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 EURUSD in real time mode
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