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.
Gold has turned bullish today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil prices continue to trade in a downtrend, targeting the lower Target Zone 59.84–59.20.
- XAUUSD: Short-term trend has changed to an uptrend today.
- EURUSD: The euro price is climbing in a correction.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil prices entered a short-term downtrend, breaking below the support level 63.04–62.72. The lower Target Zone 59.84–59.20 is a bearish target.
Short trades can be considered during a correction at the resistance A 63.52 – 63.31 and resistance B 64.69–64.37, the trend boundary. The main target will be this week’s low of 61.18.
USCrude Trading Ideas for Today:
Sell at resistance A 63.52–63.31. TakeProfit: 62.35, 61.18. StopLoss: 64.05.
Gold Forecast for Today: XAUUSD Analysis
Gold’s short-term trend has turned bullish today. The price broke above the key resistance 4,751–4,719. The next bullish target is the upper Target Zone 5,101–5,037. If the price consolidates above this zone, the next target will be the Gold Zone 5,271–5,249.
Consider long trades at the support A 4,656–4,635 or support B 4,550–4,518 with the target at today’s high. The gold price should settle below 4,518 to reverse the uptrend.
XAUUSD Trading Ideas for Today:
Buy at support A 4,656–4,635. TakeProfit: 4,758, 4,878. StopLoss: 4,582.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term downtrend. A bearish target is the lower Target Zone 1.1758–1.1725. Currently, the price is rising in a correction.
Short trades can be considered at the resistance 1.1894–1.1884, with the first target of 1.1835 and the second one at yesterday’s low of 1.1776.
EURUSD Trading Ideas for Today:
Sell at resistance A 1.1894–1.1884. TakeProfit: 1.1835, 1.1776. StopLoss: 1.1921.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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