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.
Oil continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continues to decline.
- XAUUSD: Gold is testing the resistance (B) 3391 – 3380.
- EURUSD: The euro is poised to continue rising.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term downtrend. The bearish target is the lower Target Zone 60.70 – 59.77. Consider short trades during a correction.
If the correction unfolds, the quotes may climb to the resistance (A) 65.58 – 65.30. Consider short trades near this zone with the first target of 64.07 and the second one near 62.58.
USCrude Trading Ideas for Today:
Sell near resistance (A) 65.58 – 65.30. TakeProfit: 64.07, 62.58. StopLoss: 66.13.
Gold Forecast for Today: XAUUSD Analysis
Gold is testing the short-term downtrend’s key resistance 3391 – 3380. If the price breaks through this zone, the downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 3515 – 3493.
If the asset fails to pierce the resistance (B) 3391 – 3380, consider short trades with the first target of 3330 and the second one of 3268.
XAUUSD Trading Ideas for Today:
Sell near resistance (B) 3391 – 3380. TakeProfit: 3330, 3268. StopLoss: 3414.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term uptrend. Thus, considered long trades on a correction at the strong support (A) 1.1563 – 1.1549 and support (B) 1.1495 – 1.1474. The main bullish target will be this week’s high. If the price consolidates above this high, the next target will be the upper Target Zone 1.1840 – 1.1799.
The price should break through and settle below the support (A) to create selling opportunities and reverse the trend. In this case, short trades can be considered with a target in the lower Target Zone 1.1291 – 1.1250.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1563 – 1.1549. TakeProfit: 1.1624, 1.1699. StopLoss: 1.1522.
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Price chart of USCRUDE in real time mode
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