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.
Oil prices continued to rise yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has climbed to the second bullish target of 83.54.
- XAUUSD: Gold is rising and approaching the August 13 high.
- EURUSD: The euro has failed to break through the upper Target Zone of 1.1601–1.1576.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil rally continued. As a result, the price reached the second bullish target of 83.54. The asset pierced this level but was unable to stay above it. The next bullish target is the upper Target Zone of 86.82–85.61. If this zone is breached, the next target will be the Gold Zone of 90.05–89.64.
If a downward correction begins, the oil price can fall to the support zone A at 80.73–80.32. Once this zone is tested, long trades can be considered, with the first target at 82.54 and the second one near today’s high of 84.77.
USCrude Trading Ideas for Today:
Buy near support A of 80.73–80.32. TakeProfit: 82.54, 84.7. StopLoss: 79.30.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term uptrend. The primary bullish target is at 4,449. If the price exceeds this level, it will likely reach the Target Zone 2 of 4,493–4,472.
Long trades can be considered during a pullback at the support A of 4,347–4,336, once it is tested and a buy pattern emerges. In this case, the first target will be 4,393, and the second one will be 4,449.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,347–4,336. TakeProfit: 4,393, 4,449. StopLoss: 4,319.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro remained within the upper Target Zone of 1.1601–1.1576. Today, the price is declining during a correction. If the asset reaches the support zone A at 1.1530–1.1521, long trades can be considered, with the first target at 1.1568 and the second one around 1.1614.
If the EURUSD pair breaks below the support A, the correction will extend toward the trend boundary of 1.1488–1.1475. Once the trend boundary is tested, long trades can be considered.
EURUSD Trading Ideas for Today:
Buy near support A of 1.1530–1.1521. TakeProfit: 1.1568, 1.1614. StopLoss: 1.1499.
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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