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 euro price is trading in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading near its November low of 57.02 and may pierce this level soon.
- XAUUSD: Gold has settled above the Target Zone 4,328–4,298 and is poised to exceed last Friday’s high.
- EURUSD: The euro is trying to continue its short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trying to reverse the uptrend. If it breaks below the November low of 57.02, one may consider short trades with a target in the lower Target Zone 53.97–53.13.
However, if the price fails to consolidate below the November low, it may start to rise toward the first target at 60.06 and the second one near the October 24 high of 62.36. If the asset settles above 62.36, the next bullish target will be the upper Target Zone 64.95–64.13.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term uptrend. Last week, the price reached the Target Zone 4,328–4,298 but failed to pierce it. As a result, gold’s price started to decline in a correction.
However, today, bulls pushed the price up to the Friday high of 4,352. If the asset consolidates above this high, long trades can be considered with a target in the Gold Zone 4,408–4,398.
If the price returns below the Target Zone, a bearish pattern may emerge. In this case, the asset may fall to the support A 4,253–4,243.
XAUUSD Trading Ideas for Today:
Buy near support A 4,253–4,243. TakeProfit: 4,298, 4,353. StopLoss: 4,217.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term uptrend. The main bullish target is the upper Target Zone 1.1825–1.1792.
Long trades can be considered on a correction at the support A 1.1654–1.1643 and support B 1.1600–1.1584, with the first target at 1.1703 and the second one at last Friday’s high of 1.1762.
If the euro/dollar price breaks below the 1.1584 level, the uptrend may reverse, creating selling opportunities.
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 EURUSD in real time mode
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