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 testing the support B 58.17–57.75 within the uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the support B 58.17–57.75 within the uptrend.
- XAUUSD: Gold is trading near the resistance at 4,209.
- EURUSD: The euro is trying to reverse its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price has once again approached the key support of the short-term uptrend at 58.17–57.75. If the asset manages to remain above this zone, long trades can be considered with the first target at 60.06 and the second one at 62.36.
If the price settles below the support B 58.17–57.75, the short-term uptrend will reverse. In this case, consider short trades with the main target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term uptrend. The main bullish target is the December high of 4,264. If the price exceeds this mark, the next target will be the upper Target Zone 4,328–4,298.
An alternative scenario assumes that if gold’s price falls and settles below the support A 4,164–4,154, one may consider short trades toward the support B 4,114–4,099 during a correction. Support B is the trend boundary, so consider long trades near this zone with the main target at the December high.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support A 4,164–4,154. TakeProfit: 4,264. StopLoss: 4,168.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is testing the boundary of the short-term downtrend at 1.1647–1.1630. Currently, bears are keeping the asset below this zone. Therefore, consider short trades with the first target at 1.1562 and the second one at 1.1468.
If the euro/dollar price consolidates above the resistance B 1.1647–1.1630, the short-term downtrend will change to an uptrend. In this case, consider long trades with the main target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Sell at resistance B 1.1647–1.1630. TakeProfit: 1.1562, 1.1468. StopLoss: 1.1670.
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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