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.
Gold has turned bearish in the short term.
The article covers the following subjects:
Major Takeaways
- USCrude: Yesterday, oil reached the second buy target of 97.01.
- XAUUSD: The trend has turned downward.
- EURUSD: The euro is expected to rebound from the support B of 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price continued to rise, reaching the second target near the April 23 high and piercing the Target Zone of 96.66–95.04. The next bullish target is the Gold Zone of 100.97–100.43.
Long trades can be considered during the correction at the support A of 94.08–93.54, with the first target at 96.51 and the second one at 99.47.
USCrude Trading Ideas for Today:
Buy near support A at 94.08–93.54. TakeProfit: 96.51, 99.47. StopLoss: 92.16.
Gold Forecast for Today: XAUUSD Analysis
Gold’s short-term trend turned bearish yesterday. The metal broke through the key support of 4,678–4,657. The next bearish target is the lower Target Zone of 4,466–4,423.
Consider short trades during pullbacks at the resistance A of 4,710–4,696 and resistance B of 4,788–4,767. Yesterday’s low will serve as the primary target.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,710–4,696. TakeProfit: 4,632, 4,554. StopLoss: 4,744.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is holding above the key support of the short-term uptrend at 1.1687–1.1670. Therefore, you can keep your long trades open, targeting 1.1760. The next target will be the April high of 1.1849.
If the euro breaks below the support B of 1.1687–1.1670 today, the trend will change to a downward one. In that case, consider short trades, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Hold long trades opened at support B 1.1687–1.1670. TakeProfit: 1.1760, 1.1849. StopLoss: 1.1629.
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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