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.
Oil reversed its uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reversed its uptrend. The lower Target Zone 53.97–53.13 is now the bearish target.
- XAUUSD: Gold is declining in a correction and approaching the support A 4,253–4,243.
- EURUSD: The euro is rising toward the upper Target Zone 1.1825–1.1792.
Oil Price Forecast for Today: USCrude Analysis
The oil price changed its uptrend to a downtrend yesterday and pierced the support of 57.02. Now the lower Target Zone 53.97–53.13 is the bearish target.
Consider short trades during a correction at the strong resistance 59.24–58.96, once it is tested and a bearish pattern emerges, with the first target at 57.70 and the second near this week’s low at 56.16.
USCrude Trading Ideas for Today:
Sell at resistance A 59.24–58.96. TakeProfit: 57.70, 56.16. StopLoss: 59.96.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price failed to exceed last week’s high and returned to the Target Zone 4,328–4,298. The Target Zone is a strong resistance level. Consequently, a downward correction may begin near it.
If so, the asset may fall to the support A 4,253–4,243. Once this zone is tested, consider long trades with the first target at 4,298 and the second one near 4,353.
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 price continues to trade 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 strong support A 1.1660–1.1650 and support B 1.1606 – 1.1590. For the trades opened at the support A, the first bullish target will be 1.1709, and the second target will be the weekly high of 1.1768.
EURUSD Trading Ideas for Today:
Buy near support A 1.1660–1.1650. TakeProfit: 1.1709, 1.1768. StopLoss: 1.1621.
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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