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.
The euro maintains a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising, breaching the Target Zone 2 of 87.87–87.08.
- XAUUSD: Gold is retreating from the resistance B of 4,128–4,113.
- EURUSD: The euro may continue to decline toward the second target of 1.1324.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continue to increase. The asset has pierced the Target Zone 2 of 87.87–87.08. If it settles above this zone, the next bullish target will be the Gold Zone 2 of 91.40–91.01. Should bears defend the Target Zone 2, a downward correction will begin.
If the correction unfolds, the oil price may fall to the support A of 84.71–84.31. Consider long trades near this zone, with the primary target at today’s high.
USCrude Trading Ideas for Today:
Buy near support A of 84.71–84.31. TakeProfit: 86.49, 88.69. StopLoss: 83.29.
Gold Forecast for Today: XAUUSD Analysis
This week, gold pulled back to the key resistance of the short-term downtrend at 4,128–4,113, but bears managed to hold this zone. Today, the price is dropping. If the decline continues, the metal may reach the first bearish target of 4,044. The second target will be the 3,359 level.
If the gold price settles above resistance B, the downtrend will reverse, and one may consider long trades, targeting the upper Target Zone of 4,298–4,267.
XAUUSD Trading Ideas for Today:
Hold short trades near resistance B of 4,128–4,113. TakeProfit: 4,044, 3,959. StopLoss: 4,166.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is still trading in a short-term downtrend. This week, the price reached the first bearish target of 1.1403. The second target is 1.1324. If the asset falls lower, it may reach the Gold Zone of 1.1249–1.1240.
Should the euro price break above resistance B, the trend will turn bullish. In this case, one may consider long trades, targeting the upper Target Zone of 1.1641–1.1612.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B of 1.1482–1.1468. TakeProfit: 1.1324. StopLoss: at 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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