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.
After climbing yesterday, oil prices are retreating today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is pulling back, but long trades are still relevant.
- XAUUSD: Gold is trading below resistance B of 4,734–4,713.
- EURUSD: The euro is struggling to extend its short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price continued to rise. Today, the asset is declining. If bears step in, the price may slide to the support A at 93.93–93.39. Consider long trades near this zone, with the first target at 96.35 and the second one around 99.32.
If oil settles above yesterday’s high, the rally may continue toward the upper Target Zone of 104.68–103.06.
USCrude Trading Ideas for Today:
Buy near support A of 93.93–93.39. TakeProfit: 96.36, 99.32. StopLoss: 92.07.
Gold Forecast for Today: XAUUSD Analysis
Gold remains in a short-term downtrend. The price is trading below the resistance B of 4,734–4,713. Therefore, consider holding your short trades today, targeting 4,617 and 4,500.
Should the metal break above the key resistance zone and close higher in the US session, the downtrend may reverse. In this scenario, consider long positions on the next trading day, with the target in the upper Target Zone of 4,968–4,925.
XAUUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 4,734–4,713. TakeProfit: 4,617, 4,500. StopLoss: 4,779.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading within a short-term uptrend. However, bulls failed to sustain the rally and break above last week’s high. Instead, the price is falling and approaching the support B of 1.1687–1.1670 again. Once it is tested and a corresponding pattern appears, long trades can be considered, with the first target at 1.1760 and the second one around 1.1849.
If the EURUSD pair settles below the support B, the trend may turn bearish. In that case, consider short trades on the next trading day, targeting the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Watch the market.
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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