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.
Short-term forecast for oil, gold, and euro-dollar today. Gold is once again testing resistance B at 4,472–4,454.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trending higher, targeting 58.74.
- XAUUSD: Gold is trading near resistance B at 4,472–4,454.
- EURUSD: The euro is testing support B at 1.1646–1.1629.
Oil Price Forecast for Today: USCrude Analysis
Oil’s short-term uptrend continued yesterday. The price approached the upper target zone and the December 26 high at 58.74. If the target zone 58.98–58.61 is broken out to the upside, the next buy target will be the golden zone 60.66–60.48.
If the target zone is held by sellers, another correction will develop, targeting support А at 56.63–56.42. Thus, oil prices are currently trading between the upper target zone and support A. To break out of this range, the price needs to break above 58.98 or below 56.42.
USCrude Trading Ideas for Today:
Hold a part of longs near support A at 56.63–56.42. TakeProfit: 58.74. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is once again testing resistance B at 4,472–4,454. This resistance marks the boundary of the short-term downtrend. Accordingly, if it is held by sellers, the downtrend is expected to continue, with an initial target at 4,373 and a second target at 4,274. If the price breaks below the 4,274 level, the next downside target will be the lower target zone at 4,189–4,153.
An alternative scenario suggests a breakout above resistance B. In this case, the short-term trend will shift to bullish. Within an uptrend, long positions may be considered, with the primary target in the upper target zone of 4,670–4,634.
XAUUSD Trading Ideas for Today:
Sell near resistance B at 4,472–4,454. TakeProfit: 4,373, 4,274. StopLoss: 4,507.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to fall yesterday. As a result, the price broke below support A at 1.1700–1.1689 and reached support B at 1.1646–1.1629. Support B marks the boundary of the short-term uptrend. Accordingly, long positions may be considered near this area, with an initial target at 1.1718 and a second target at 1.1808.
If support B is broken to the downside, the trend will reverse downward. In this case, short positions may be considered, targeting the lower target zone at 1.1484–1.1451.
EURUSD Trading Ideas for Today:
Buy near support B at 1.1646–1.1629. TakeProfit: 1.1718, 1.1808. StopLoss: 1.1595.
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Price chart of XAUUSD in real time mode
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