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 have identified entry signals for intraday traders.
After reaching the upper Target Zone of 100.93–99.60, the oil price pulled back sharply.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising after a sharp correction.
- XAUUSD: The short-term downtrend continues.
- EURUSD: The euro is struggling to break through resistance B at 1.1251–1.1239.
Oil Price Forecast for Today: USCrude Analysis
After reaching the upper Target Zone of 100.93–99.60, major market participants closed their long positions to lock in profits. As a result, a steep correction followed, and the price dropped to support A at 96.59–96.15.
Large long trades were opened near the support zone A, pushing the price to the first bullish target of 98.59. The next target is at 101.02.
USCrude Trading Ideas for Today:
Hold part of long trades opened near support A at 96.59–96.15. TakeProfit: 101.02. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the first bearish target for positions opened near resistance A at 4,179–4,169. Today, the price continues to fall and may settle below 4,122. Therefore, consider holding some of your short trades open until the price hits the second target in the Gold Zone of 4,081–4,070.
If the price settles above resistance A, the correction may continue up to resistance B at 4,235–4,220.
XAUUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance A at 4,179–4,169. TakeProfit: 4,066. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro price corrected higher again but failed to break through the resistance zone B at 1.1251–1.1239. Thus, the short-term downtrend remains intact. Therefore, one may hold short positions or open new ones today, with the first target at 1.1182 and the second target at the October 14 low of 1.1113.
If the EURUSD pair pierces resistance B today, the trend will turn bullish.
EURUSD Trading Ideas for Today:
Sell / Hold short trades opened near resistance B at 1.1251–1.1239. TakeProfit: 1.1182; 1.1113. StopLoss: 1.1273.
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Price chart of USCRUDE in real time mode
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