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.
Last week, gold climbed and approached the resistance (B) 3391 – 3380.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising in a correction and nearing the resistance (A) 64.75 – 64.44.
- XAUUSD: Gold rallied last week and got close to the resistance (B) 3391 – 3380.
- EURUSD: The euro has reached all its bullish targets for the trades opened at the support (A) 1.1614 – 1.1602.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a correction within the short-term downtrend, likely targeting the resistance (A) 64.75 – 64.44. Once this zone is reached, consider short trades with the first target of 63.04 and the second one of 61.34.
If the price breaks through the resistance (A) from below, the correction may continue to the resistance (B) 66.46 – 65.99, the trend boundary. Therefore, one may consider short trades.
USCrude Trading Ideas for Today:
Sell near resistance (A) 64.75 – 64.44. TakeProfit: 63.04, 61.34. StopLoss: 65.33.
Gold Forecast for Today: XAUUSD Analysis
Last week, the gold rose and approached the resistance (B) 3391 – 3380, the short-term downtrend’s boundary. Therefore, as long as the price trades below this zone, consider short trades. The bearish target will be the July low near 3268.
If the asset pierces the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 3515 – 3493, starting from the next trading day.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is growing within a short-term uptrend. Last week, the price tested the support (A) 1.1614 – 1.1602 but failed to breach it. As a result, the asset started to increase and exceeded the August 13 high.
Besides, the price tested the upper Target Zone 1.1774 – 1.1739. If the euro breaks through this zone, the next bullish target will be the Gold Zone 1.1867 – 1.1855. If not, the asset may start to slide in a correction with the target near the support (A) 1.1626 – 1.1615.
EURUSD Trading Ideas for Today:
Watch the market.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
