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.
Yesterday, gold tested the resistance B of 4,128–4,113.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has declined to the Target Zone of 80.53–79.36.
- XAUUSD: Gold is testing the 4,044 level
- EURUSD: The euro continues to trade within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is falling within a short-term downtrend. Today, the asset reached the lower Target Zone of 80.53–79.36. If the price breaks below this zone, the next bearish target will be the Gold Zone of 76.63–76.24.
If bulls manage to hold the Target Zone, an upward correction will begin. If the correction develops, the price may climb to the resistance A of 84.10–83.71. Consider short trades near it, with the first target at 81.97 and the second one around 79.81.
USCrude Trading Ideas for Today:
Sell near resistance A of 84.10–83.71. TakeProfit: 81.97, 79.81. StopLoss: 85.12.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tested the resistance zone B of 4,128–4,113. Bears once again defended this zone. As a result, the price began to decline. Today, the asset continued to fall, reaching the first bearish target of 4,044.
If the gold price falls further, the next bearish target will be 3,959. Should bulls hold the 4,044 level, an upward correction will unfold, pushing the price toward the resistance B of 4,128–4,113. If the price breaks through this resistance zone, the short-term trend will turn bullish.
XAUUSD Trading Ideas for Today:
Hold part of short trades near resistance B of 4,128–4,113. TakeProfit: 3,959. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to weaken. The main bearish target is the June low of 1.1324. Once the price reaches this low, it will likely attempt to break below the Target Zone 2 of 1.1322–1.1303. If that happens, the next bearish target will be the Gold Zone 2 of 1.1238–1.1229.
If the EURUSD pair starts to rise today and breaks above the resistance B of 1.1482–1.1468, the short-term trend will shift to an uptrend. In this case, consider long trades, with the target in the upper Target Zone of 1.1601–1.1576.
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 USCRUDE in real time mode
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