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.
Oil extended its short-term uptrend on Friday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached its first bullish target near 60.06.
- XAUUSD: Gold is trading in a short-term uptrend toward 4,264.
- EURUSD: The euro is poised to reverse its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Last Friday, oil continued its short-term uptrend, reaching the first bullish target near 60.06. If the price pierces and settles above this level, consider holding part of your long trades until the asset reaches the second target near 62.36. The oil price is growing from the key support 58.17–57.75.
If oil begins to fall and breaks below the support 58.17–57.75, the uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold long trades opened at support B 58.17–57.75. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
The gold price is maintaining its short-term uptrend. On Friday, the asset approached the second bullish target near 4,264 but failed to touch it, and a correction started. If a new upward momentum begins today, gold may reach the second target. In this case, all long trades can be closed.
If gold’s price starts to decline and breaks below the support A 4,164–4,154, the correction will continue to the support B 4,114–4,099, the trend boundary. Therefore, consider long trades near this zone.
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 is changing its short-term downtrend to an uptrend. The price is trying to settle above the 1.1656 level. If so, consider long trades during the US trading session with the main target in the upper Target Zone 1.1825–1.1792.
If the euro price returns below 1.1630, the short-term downtrend will persist. In this case, consider short trades with the first target at 1.1562 and the second one at 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.
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Price chart of USCRUDE in real time mode
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