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.
Oil continues trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil reached resistance (B) 69.81 – 69.37.
- XAUUSD: Gold is trading within a correction of a short-term uptrend.
- EURUSD: The euro is testing support (B) 1.0798 – 1.0783.
Oil Price Forecast for Today: USCrude Analysis
Oil continues trading in a short-term downtrend. Yesterday, market participants reached the key resistance at 69.81 – 69.37. The zone was held by sellers, so today, we can consider short positions near those levels, with the first target at 67.40 and the second one around 65.00.
If resistance (В) 69.81 – 69.37 is broken and the price consolidates above, the short-term trend will reverse up. In that case, we can consider longs with a key target in the upper Target Zone 73.79 – 72.99 starting tomorrow.
USCrude Trading Ideas for Today:
Sell near resistance (B) 69.81 – 69.37. TakeProfit: 67.40, 65.00. StopLoss: 70.60.
Gold Forecast for Today: XAUUSD Analysis
Gold continues trading in a correction of a short-term uptrend. Market participants are likely aiming to test support (A) 2992–2983. Once this support has been tested, new long positions can be considered, with the first target at 3020 and another one at around 3057.
If support (А) is broken to the downside, the price can be expected to reach support (В) 2956 – 2946.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2990 – 2983. TakeProfit: 3020, 3057. StopLoss: 2970.
Euro/Dollar Forecast for Today: EURUSD Analysis
Euro quotes are testing the key support 1.0798 – 1.0783 within a downward correction of a short-term uptrend. That zone is held by buyers, so we can consider long positions near those levels, with the first target at 1.0868 and the second one around 1.0954.
If the price breaks through support (B) 1.0798 – 1.0783 and settles below it, the short-term uptrend will reverse. If it does, consider opening shorts with a key target in the lower Target Zone 1.0642 – 1.0611.
EURUSD Trading Ideas for Today:
Hold long positions near support (В) 1.0798 – 1.0783. TakeProfit: 1.0868, 1.0954. StopLoss: 1.0755.
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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