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. The euro continued to decline yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading near local lows.
- XAUUSD: Gold has pulled back from the resistance B of 4,127–4,110.
- EURUSD: The euro has hit the first downside target near 1.1377.
Oil Price Forecast for Today: USCrude Analysis
The decline in oil prices continues. The price is approaching the next downside target in the Target Zone at 65.59–64.46. If the price breaks below this zone, the next downside target will be the Gold Zone at 59.98–59.42.
New short positions are best considered during a correction from strong resistance levels. The nearest resistance zone is located at 73.12–73.68. The first downside target for short positions from this zone is 70.59.
USCrude Trading Ideas for Today:
Sell near resistance A at 73.68–73.12. TakeProfit: 70.59, 67.52. StopLoss: 75.02.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold prices entered a sharp correction and tested the resistance B at 4,127–4,110. The resistance B marks the boundary of the short-term downtrend. Sellers held the resistance B, allowing the price to reach the first downside target at 4,035. The next downside target is the June 30 low at 3,943.
To consider long positions, the price must break above the resistance B and hold above it, confirming a trend reversal.
XAUUSD Trading Ideas for Today:
Hold part of your short positions opened from resistance B at 4,127–4,110. TakeProfit: 3,943. StopLoss: breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to decline yesterday. As a result, the first downside target at 1.1377 was reached. If this level is broken to the downside, the next target will be 1.1324.
If the resistance A 1.1430–1.1420 is broken to the upside, the correction will continue up to the resistance B of 1.1482–1.1468. This zone marks the trend boundary. It may also be used to open short positions.
EURUSD Trading Ideas for Today:
Hold part of your short positions opened near resistance A at 1.1430–1.1420. TakeProfit: 1.1324. StopLoss: breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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