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 continued to decline yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is pulling back.
- XAUUSD: Gold has reached all the bearish targets.
- EURUSD: The euro is retreating from resistance B of 1.1482 – 1.1468.
Oil Price Forecast for Today: USCrude Analysis
The oil price is correcting lower, approaching support A of 76.69–76.30. Once this support is tested, long trades can be considered, with the first target at 78.50 and the second one around 80.59. If the price climbs even higher, the rally will most likely continue toward the upper Target Zone of 85.56–83.88.
If the oil price breaks below support A during trading, the correction will extend toward support B of 74.74–74.15.
USCrude Trading Ideas for Today:
Buy near support A of 76.69–76.30. TakeProfit: 78.45, 80.59. StopLoss: 75.31.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold prices continued to drop, reaching the second bearish target set for the trades opened at resistance A of 4,096–4,086. Thus, all targets have been achieved.
The next bearish target is the lower Target Zone of 3,897–3,866. Now, the price is slightly correcting higher. If the correction persists, the price may touch the new resistance A of 4,082–4,071. Consider short trades near this zone.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,082–4,071. TakeProfit: 4,025, 3,969. StopLoss: 4,107.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tested the key resistance level of the short-term downtrend at 1.1482–1.1468. Bears managed to defend this zone, and the price began to decline. If the decrease continues, the asset may reach the first bearish target of 1.1403. The second target will be the 1.1324 level.
If the euro price begins to rise today and pierces the resistance B at 1.1482–1.1468, the short-term trend will turn bullish. In that case, consider long trades, with a target in the upper Target Zone of 1.1601–1.1576.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 1.1482–1.1468. TakeProfit: 1.1403, 1.1324. StopLoss: 1.1520.
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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