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 is changing its short-term downtrend to an uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil may rise to 60.06.
- XAUUSD: Gold is strengthening within a short-term uptrend.
- EURUSD: The euro is trading above the November high of 1.1656, indicating a potential bullish reversal.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price hit a new weekly high, which is a good sign for bulls. The short-term trend remains upward. The first bullish target is 60.06. If the price settles above this level, it may climb to the second target near 62.36.
If oil begins to fall and breaks below the support 58.17–57.75 today, the short-term uptrend will reverse. In this case, consider short trades with a target in the Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold long trades opened at support B 58.17–57.75. TakeProfit: 60.06, 62.36. StopLoss: 56.95.
Gold Forecast for Today: XAUUSD Analysis
Gold’s price is advancing within the short-term uptrend. The asset has settled above the 4,209 level. The next bullish target is 4,264. If the price pierces this level, it may climb to the Target Zone 4,328–4,298.
If the gold price starts to decline and breaks below the support A 4,164–4,154, it may slide to the support B 4,114–4,099 in a correction. In this scenario, long trades can be considered at the support B with a target at 4,264.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support A 4,164–4,154. TakeProfit: 4,264. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is changing its short-term downtrend to an uptrend. The asset has exceeded the November high and is now trying to consolidate above it. If the price closes above 1.1656 this week, the downtrend will finally reverse. In this case, consider long trades with a target in the upper Target Zone 1.1825–1.1792.
If the euro/dollar price returns below the key resistance 1.1647–1.1630, one may consider short trades near the resistance level next week. The first bearish target will be 1.1562, and the second one will be 1.1468.
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 to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding 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 EURUSD 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.
