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.
Gold continues to trade under selling pressure.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the first bullish target set for trades opened at support A of 96.45–96.01.
- XAUUSD: Gold may fall further toward 4,282.
- EURUSD: The euro is piercing support B of 1.1585–1.1572.
Oil Price Forecast for Today: USCrude Analysis
The oil price is maintaining a short-term uptrend. On Friday, the asset tested support A at 96.45–96.01. As a result, bulls managed to hold this zone. Today, the price opened with a gap and reached the first bullish target of 98.40.
Consequently, some of the remaining long trades can be shifted to the breakeven point and held until the second target of 100.75 is reached. If oil breaks below support A, the correction will extend toward support B of 94.27–93.61.
USCrude Trading Ideas for Today:
Hold part of the long trades opened at support A of 96.45–96.01. TakeProfit: 98.40, 100.75. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold remains under selling pressure. Last week, the price reached the first bearish target of 4,367. The second target is at 4,282. This level lies within the Gold Zone of 4,286–4,276. Therefore, if the price breaks below this zone, it may slide further to 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 the first bullish target set for trades opened at support B of 1.1585–1.1572, the euro price reversed lower. Today, it is attempting to break below support B. If it settles below this zone, the trend will turn bearish. In that case, consider short trades tomorrow, targeting the lower Target Zone of 1.1459–1.1434.
If the euro price returns to support B and forms a buy pattern, consider long trades, with the first target at 1.1642 and the second one at the August 21 high of 1.1711.
EURUSD Trading Ideas for Today:
Watch the market.
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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