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 oil price is falling again after reaching its first bullish target last week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is once again approaching the support B 58.17–57.75.
- XAUUSD: Gold is declining in a correction within the short-term uptrend.
- EURUSD: The euro is trying to reverse its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is sliding again after reaching the first bullish target last week and is nearing the support B 58.17–57.75. This zone is the trend boundary, and if the price remains above it, long trades can be considered with targets at 60.06 and 62.36.
If oil breaks below the support B today, the short-term uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold long trades opened at support B 58.17–57.75. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term uptrend. The second bullish target is the December high of 4,264. Therefore, consider holding part of your long trades at the breakeven level.
If gold’s price retests the support A 4,164–4,154, one may consider long trades near this zone with targets at 4,209 and 4,264. Should the asset break below the support A, the correction will extend to the support B 4,114–4,099, the trend boundary.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support A 4,164–4,154. TakeProfit: 4,264. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro failed to settle above the key resistance of the short-term downtrend at 1.1647–1.1630. Therefore, the short-term downtrend remains intact. In this connection, consider short trades with the first target at 1.1562 and the second one at 1.1468 once the asset consolidates below 1.1630.
If the euro/dollar price exceeds the 1.1656 level, the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 1.1825–1.1792.
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 USCRUDE in real time mode
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