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.
Short-term forecast for oil, gold, and euro-dollar today. Gold buyers are aiming to reverse the trend to the upside.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil remains under selling pressure.
- XAUUSD: Gold is set to break above resistance (B) 3,391–3,380.
- EURUSD: The euro returned to support (A) at 1.1626–1.1615 within the ongoing uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading within a medium-term downtrend. Yesterday, it hit the first sell target near 63.04. The next target is at 61.34. Holding part of the short positions opened from resistance (A) at 64.75–64.44 at breakeven remains justified today.
If resistance (А) is broken to the upside, the correction will continue up to the resistance (В) 66.46–65.99 — the trend’s boundary. This level may also serve as a point to enter short positions.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (А) 64.75–64.44. TakeProfit: 61.34. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold traders are attempting to shift the short-term trend to the upside by breaking above resistance (B) at 3,391–3,380. If they succeed, buying opportunities may be considered starting from the next trading day, with the target at the upper target zone of 3,515–3,493. If resistance (B) holds under selling pressure, a new downside impulse will develop, with the first target at 3,330 and the second at 3,268. Traders should closely monitor price interaction with resistance (B) throughout the week.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro’s corrective move to the downside continued. As a result, support (A) at 1.1626–1.1615 was broken. However, in the second half of the day, the price pulled back to this support zone. Thus, the area was held by buyers. This means that today long positions may be considered from support (A), with the first target at 1.1678 and the second target at 1.1742.
If support (А) is broken to the downside again, the correction will continue to support (В) at 1.1568–1.1551. This zone marks the boundary of the current trend. Therefore, it may also serve as a point to enter long positions.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.1626–1.1615. TakeProfit: 1.1678, 1.1742. StopLoss: 1.1592.
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Price chart of XAUUSD in real time mode
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