I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Gold’s short-term uptrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The Gold Zone at 66.54 – 66.24 was held.
- XAUUSD: Gold is strengthening slightly below the Gold Zone 3065 – 3058.
- EURUSD: The euro is correcting within the short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday’s decline in oil prices stopped within the Gold Zone 66.54 – 66.24. From this zone, an upward movement began. If the growth continues today, resistance (A) at 68.20 – 67.91 will be retested. In this case, I recommend monitoring price behavior and waiting for the price to consolidate above this resistance.
If buyers manage to secure the price above resistance (A), the correction will extend to the trend boundary at 69.81 – 69.37. Once the trend boundary is reached, new sell positions can be considered, with the main target at 65.00.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold‘s short-term uptrend continued yesterday. At the opening of today’s trading session, the Gold Zone 3065 – 3058 was reached. The price is currently consolidating below the resistance area – the Gold Zone.
If a bearish momentum develops today, expect gold to reach support (A) at 2995 – 2988. Upon testing this zone, consider new longs with the first target at 3023 and the second one at today’s high, around 3057.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2995 – 2988. TakeProfit: 3023, 3057. StopLoss: 2977.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is correcting within a short-term uptrend. Yesterday, market participants attempted to reach support (А) 1.0850 – 1.0840 and will likely continue their efforts today. After this support area is tested, consider new longs with the first target of 1.0897 and the second one near 1.0954.
If support (А) is broken to the downside, the bearish correction will reach the trend boundary at 1.0798 – 1.0783. After testing the trend boundary, buy positions can also be considered.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.0850 – 1.0840. TakeProfit: 1.0897, 1.0954. StopLoss: 1.0819.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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