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 market opened with a gap up today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the resistance B at 87.76–86.95 during an upward correction.
- XAUUSD: Gold is declining toward the support A at 4,721–4,704.
- EURUSD: The euro has tested the support A at 1.1741–1.1730.
Oil Price Forecast for Today: USCrude Analysis
The oil price opened with a gap up today and reached the boundary of the short-term downtrend at 87.76–86.95. Now, bears are holding the asset within this zone. Therefore, short trades can be considered, with the first target at 83.31 and a second one around 78.86.
If the price settles above the resistance B at 87.76–86.95, the trend will turn bullish. In this case, consider long trades with the target in the upper Target Zone at 96.66–95.04.
USCrude Trading Ideas for Today:
Sell at resistance B at 87.76–86.95. TakeProfit: 83.31, 78.86. StopLoss: 89.62.
Gold Forecast for Today: XAUUSD Analysis
The gold price is pulling back and approaching the support A at 4,721–4,704. Once this zone is tested, one may consider long trades. The uptrend remains intact. The first buy target will be at 4798, and the second one at last week’s high of 4,891.
If gold falls below the support A, the correction will continue toward the support B at 4,636–4,610, the trend boundary. Long trades can be considered near this zone.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,721–4,704. TakeProfit: 4,798, 4,891. StopLoss: 4,662.
Euro/Dollar Forecast for Today: EURUSD Analysis
Today, the EURUSD pair retreated to the support A at 1.1741–1.1730. Consider long trades near this zone, with the first target at 1.1790 and the second one at 1.1849.
If the euro price breaks below the 1.1730 level, the correction will extend toward the support B at 1.1687–1.1670. Long trades can be considered near this zone.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1741–1.1730. TakeProfit: 1.1790, 1.1849. StopLoss: 1.1703.
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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