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.
The euro continues to trade in the short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil prices continued to decline, piercing the Gold Zone of 76.24–76.63.
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XAUUSD: Gold has entered a short-term uptrend.
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EURUSD: The euro is poised to hit a fresh weekly high.
Oil Price Forecast for Today: USCrude Analysis
Crude oil continued its short-term downtrend yesterday, with prices plunging below the July low and hitting the second sell target from the key resistance zone of 83.57–82.99.
The price also slid below the Gold Zone of 76.63–76.24, opening the way toward the next sell target at 72.07–71.26. Short positions can be considered on rebounds from strong resistance levels. The nearest resistance zone is 77.93–77.53.
USCrude Trading Ideas for Today:
Sell near resistance A 77.93–77.53. TakeProfit: 75.71, 73.49. StopLoss: 78.95.
Gold Forecast for Today: XAUUSD Analysis
Today, gold has exceeded the July 22 high and violated the resistance B of 4,128–4,113, marking the onset of a new short-term uptrend. The main bullish target is located in the upper Target Zone of 4,298–4,267.
Long positions can be considered near a strong support of 4,076–4,066, with the main target at today’s high of 4,179.
XAUUSD Trading Ideas for Today:
Buy near support A 4,076–4,066. TakeProfit: 4,123, 4,179. StopLoss: 4,040.
Euro/Dollar Forecast for Today: EURUSD Analysis
The short-term uptrend in the euro remains intact, with market participants pushing the price toward the weekly high of 1.1558. If the price breaks through this level, it will likely reach the Target Zone of 1.1601–1.1576.
If a bearish correction develops, the pair may decline toward the support A of 1.1474–1.1466. Once the price tests this area, consider long positions with targets at 1.1512 and 1.1558.
EURUSD Trading Ideas for Today:
Buy near support A 1.1474–1.1466. TakeProfit: 1.1512, 1.1558. StopLoss: 1.1445.
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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