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 EURUSD pair surged yesterday following the US Fed’s interest rate cut.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the support B 58.17–57.75. If the price breaks below this zone, the uptrend will reverse.
- XAUUSD: Gold may exceed its December 1 high.
- EURUSD: The euro has reversed its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is once again testing the support B 58.17–57.75. For now, bulls are keeping the asset within this zone. Therefore, consider long trades once a bullish pattern appears, with the first target at 60.06 and the second one at 62.36.
If the price breaks below the support B today, the short-term uptrend will change to a downtrend. In this case, short trades can be considered with a 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’s price continues to trade in a short-term uptrend. In early December, the asset tested the support A 4,164–4,154 but failed to pierce it. Subsequently, the price hit the first bullish target near 4,209. The second target is the December 1 high of 4,264. If gold consolidates above this level, it may reach the upper Target Zone 4,328–4,298.
If the gold price begins to decline and breaks below the support A, it may plunge to the support B 4,114–4,099 during a correction. This zone is the trend boundary. Therefore, once the price touches it, one may consider long trades with the main target at 4,264.
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
Yesterday, the euro price soared against the dollar after the US Federal Reserve’s interest rate decision. As a result, the asset broke above the key resistance of the short-term downtrend at 1.1647–1.1630, and the trend reversed upward. Now, the main bullish target is the upper Target Zone 1.1825–1.1792.
Long trades can be considered during corrections at the strong support A 1.1599–1.1588 and support B 1.1545–1.1529, with the target at today’s high.
EURUSD Trading Ideas for Today:
Buy near support A 1.1599–1.1588. TakeProfit: 1.1648, 1.1707. StopLoss: 1.1560.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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