Welcome, my fellow traders! I have prepared a price forecast for US Crude, 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 prices continued to rise yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: After a sharp rise, oil is correcting lower and approaching the support A of 96.45–96.01.
- XAUUSD: Gold has almost hit its second selling target today.
- EURUSD: The euro is falling after reaching its first buy target.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to rise yesterday, breaking through the Gold Zone 2 of 98.48–98.04. The next upside target is the Target Zone 3 of 103.27–102.40. Oil is currently undergoing a slight downward correction. If the correction continues, it may reach the support A of 96.45–96.01. Once this support is tested, consider new long positions, with targets of 98.40 and 100.75.
USCrude Trading Ideas for Today:
Buy near support A of 96.45–96.01. TakeProfit: 98.40, 100.75. StopLoss: 94.87.
Gold Forecast for Today: XAUUSD Analysis
Gold prices continued to decline yesterday. Today, prices have approached the second sell target near 4,282. At the moment, the price is correcting higher. Consequently, hold onto the remaining sell positions opened earlier near the resistance B of 4,451–4,436.
If the price breaks through 4,282, it may consolidate below the Gold Zone of 4,286–4,276. Consolidation below this zone will pave the way for prices to fall toward the Target Zone 2 of 4,158–4,135.
XAUUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance B of 4,451–4,436. TakeProfit: 4,282. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
After reaching its first buy target around the 1.1642 level earlier this week, the euro has started to decline and is now approaching the support B of 1.1585–1.1572. However, it is still possible to hold a portion of previously opened long positions at break-even. If the uptrend resumes and the price consolidates above this week’s high, the next buy target will be the 1.1711 level.
If the support B is pierced today, the short-term trend will shift to a downtrend. In that case, consider short positions with a target in the lower Target Zone of 1.1459–1.1434.
EURUSD Trading Ideas for Today:
Hold part of the long trades opened at support B of 1.1585–1.1572. TakeProfit: 1.1711. 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 USCRUDE in real time mode
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