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.
The euro is trading in a downward correction.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is falling after hitting the resistance (A) 64.75 – 64.44.
- XAUUSD: Gold is attempting to break through the resistance (B) 3391 – 3380.
- EURUSD: The euro is testing the support (A) 1.1626 – 1.1615 within a downward correction.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued to trade in an upward correction and reached the resistance (A) 64.75 – 64.44. Now, the price is declining. Therefore, consider holding your short trades open with the first target of 63.04 and the second one near 61.34.
If the asset pierces the resistance (A) from below, the correction will continue to the resistance (B) 66.46 – 65.99, the short-term downtrend’s boundary. Consider short trades near this zone.
USCrude Trading Ideas for Today:
Hold up short trades opened at resistance (A) 64.75 – 64.44. TakeProfit: 63.04, 61.34. StopLoss: 65.33.
Gold Forecast for Today: XAUUSD Analysis
Gold is once again testing the short-term downtrend’s boundary 3391 – 3380. So far, bears are keeping the price below this zone. Therefore, consider short trades with the first target of 3330. If the price settles below 3330, the next bearish target will be 3268.
If the price breaks through the resistance (B) 3391 – 3380, the short-term downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 3515 – 3493, starting from the next trading day.
XAUUSD Trading Ideas for Today:
Sell near resistance (B) 3391 – 3380. TakeProfit: 3330, 3268. StopLoss: 3411.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has reached the support (A) 1.1626 – 1.1615 within a downward correction. At the moment, the price is trying to break through this zone. If so, the correction will continue to the trend boundary 1.1568 – 1.1551. Once this zone is tested, consider long trades with the first target of 1.1646 and the second one near 1.1742.
If the asset fails to pierce the support (A) and settles above this zone, long trades can be considered with the first target of 1.1678 and the second one near 1.1742.
EURUSD Trading Ideas for Today:
Buy near support (B) 1.1568 – 1.1551. TakeProfit: 1.1646, 1.1742. StopLoss: 1.1517.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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