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 maintains its short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil may slide to the weekly low of 54.87.
- XAUUSD: Gold surpassed its December 12 high yesterday.
- EURUSD: The euro is approaching the support 1.1696–1.1685.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues its short-term downtrend. The main bearish target is the lower Target Zone 53.97–53.13. If the asset breaks below this zone, the next target will be the Gold Zone 51.17–50.89.
Short trades can be considered during corrections at the strong resistance A 57.95–57.67 and resistance B 59.49–59.07. The latter is the trend boundary. The main target for these trades will be this week’s low of 54.87.
USCrude Trading Ideas for Today:
Sell near resistance A 57.95–57.67. TakeProfit: 56.41, 54.87. StopLoss: 58.65.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price continued to rise, exceeding the December 12 high. The next bullish target is the Gold Zone 4,408–4,398. At the moment, the price is declining in a correction.
If the correction persists, the asset may test the support A 4,274–4,264. Consider long trades near this zone with the first target at 4,319 and the second one at 4,374.
Should the price of gold pierce the support A today, it may fall to the trend boundary 4,224–4,209.
XAUUSD Trading Ideas for Today:
Buy near support A 4,274–4,264. TakeProfit: 4,319, 4,374. StopLoss: 4,240.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a correction within the short-term uptrend. If the correction persists today, the asset may test the support A 1.1696–1.1685. Once this zone is tested, consider long trades with the first target at 1.1744 and the second one at 1.1804.
If the euro/dollar price breaks below the support A today, the correction may continue to the support B 1.1642–1.1625, the trend boundary. Therefore, consider long trades near this zone with the main target at 1.1804.
EURUSD Trading Ideas for Today:
Buy near support A 1.1696–1.1685. TakeProfit: 1.1744, 1.1804. StopLoss: 1.1657.
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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