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.
Yesterday, oil tumbled below the November low but failed to settle lower.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the support B 58.17–57.75. If it breaks below this zone, the uptrend will reverse.
- XAUUSD: Gold has reached all short-term bullish targets.
- EURUSD: The euro extended its short-term uptrend yesterday.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price plunged to a November low but failed to consolidate below it. However, by the end of the US trading session, the asset returned to the support B 58.17–57.75. Therefore, if oil starts to rise today, consider long trades with the first target at 60.06 and the second one at 62.36.
However, should the oil price close below the support B, the uptrend will likely reverse. In this case, consider short trades next week 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 continued its short-term uptrend yesterday. As a result, the asset exceeded the December high and reached the second bullish target for the trades opened at the support A 4,164–4,154. Now, gold is approaching the upper Target Zone 4,328–4,298. If it pierces this zone, the next target will be the Gold Zone 4,408–4,398. If the price remains below the Target Zone, a downward correction may start.
If the correction unfolds, the gold price may slide to the support A 4,187–4,177 or support B 4,137–4,122. Consider long trades near these zones with the main target at today’s high.
XAUUSD Trading Ideas for Today:
Buy near support A 4,187–4,177. TakeProfit: 4,233, 4,288. StopLoss: 4,151.
Euro/Dollar Forecast for Today: EURUSD Analysis
This week, the euro price changed its short-term downtrend to an uptrend. The asset broke above the resistance 1.1647–1.1630. Now, the bullish target is the upper Target Zone 1.1825–1.1792.
If a correction emerges, one may consider long trades at the strong support A 1.1654–1.1643 and support B 1.1600–1.1584. The latter is the boundary of the current uptrend.
EURUSD Trading Ideas for Today:
Buy near support A 1.1654–1.1643. TakeProfit: 1.1703, 1.1762. StopLoss: 1.1616.
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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