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, the euro reversed upward in the short term.
The article covers the following subjects:
Major Takeaways
- USCrude: oil has reached the first bearish target of 80.34.
- XAUUSD: Gold continues to trade under bearish pressure.
- EURUSD: The euro’s short-term downtrend has reversed.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price failed to break through the key resistance zone of 83.57–82.99. As a result, the asset began to decline today, reaching the first bearish target of 80.34. If the price settles below this level, it may fall further to 77.14.
If oil starts to rise and pierces the resistance B of 83.57–82.99, the short-term trend will turn upward. In that case, one may consider long trades on the next trading day.
USCrude Trading Ideas for Today:
Hold part of short trades opened at resistance B of 83.57–82.99. TakeProfit: 77.14. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price once again attempted to break above the resistance B of 4,128–4,113 but failed to do so. Therefore, the short-term trend remains bearish. The main bearish target is the July low of 3,959.
If the metal breaks above the resistance B today, the short-term trend will turn bullish. In that case, consider long trades on the next trading day, with a target in the upper Target Zone of 4,298–4,267.
XAUUSD Trading Ideas for Today:
Sell near resistance B of 4,128–4,113. TakeProfit: 4,044, 3,959. StopLoss: 4,157.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro reversed upward in the short term and breached the key resistance of 1.1482–1.1468. The bullish target is now the upper Target Zone of 1.1601–1.1576. Consider long trades during a correction.
If a correction develops, the EURUSD pair may decline to support A of 1.1453–1.1444. Once this zone is tested, consider long trades, with the first target at 1.1491 and the second one around 1.1537.
Should the euro exceed yesterday’s high, the support zones will need to be adjusted.
EURUSD Trading Ideas for Today:
Buy near support A of 1.1453–1.1444. TakeProfit: 1.1491, 1.1537. StopLoss: 1.1423.
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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