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.
Oil prices continue to trade within a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil extends its downward trend. The bearish target is the Target Zone 3 of 65.59–64.46.
- XAUUSD: Gold may reach the resistance A of 4,081–4,070.
- EURUSD: The euro is correcting higher, targeting the resistance A of 1.1430–1.1420.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues to trade within a short-term downtrend. This week, the price breached the Gold Zone 2 of 71.19–70.63. Now, the main bearish target is the Target Zone 3 of 65.59–64.46. Yesterday, the asset entered an upward correction.
If the correction continues, the asset may test the resistance zone A of 74.95–74.39. Once it is tested, consider short trades, with the first target at 71.85 and the second one at 68.79.
USCrude Trading Ideas for Today:
Sell near resistance A of 75.10–74.54. TakeProfit: 72.02, 68.94. StopLoss: 76.49.
Gold Forecast for Today: XAUUSD Analysis
Gold is rising in a correction within the short-term downtrend. During the correction, the price may climb to the resistance A of 4,081–4,070. Consider short trades near this zone, with the first target at 4,020 and the second one at 3,959.
If the metal breaks above the resistance A, the correction may extend toward the resistance B of 4,142–4,126, the trend boundary. Consider short trades near it.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,081–4,070. TakeProfit: 4,020, 3,959. StopLoss: 4,109.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is correcting higher after reaching the Target Zone of 1.1322–1.1303. Within the correction, the asset may test the resistance A of 1.1430–1.1420. Once it is tested, consider short trades, with the first target at 1.1377 and the second one at 1.1324.
If the EURUSD pair pierces the resistance A, the correction will continue toward the resistance B of 1.1482–1.1468, the boundary of the downtrend.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1430–1.1420. TakeProfit: 1.1377, 1.1324. StopLoss: 1.1455.
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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