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 is holding above the support (A) 59.57–59.29.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price may bounce off the support (A) 59.57–59.29.
- XAUUSD: Gold is trading in a short-term uptrend.
- EURUSD: The euro is falling after reaching the resistance (A) 1.1587–1.1576.
Oil Price Forecast for Today: USCrude Analysis
Oil is hovering above the support (A) 59.57–59.29 within the short-term uptrend. Therefore, consider holding existing long trades open or making new ones with the first target at 60.82 and the second one at 62.36.
If the price breaks below the support (A), the correction will extend to the support (B) 58.17–57.75. Since this zone is the trend boundary, consider long trades near it.
USCrude Trading Ideas for Today:
Hold long trades opened at support (A) 59.57–59.29. TakeProfit: 60.82, 62.36. StopLoss: 58.72.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reversed its short-term downtrend. The price consolidated above the resistance (B) 4,051–4,036, and now the bullish target is the upper Target Zone 4,216–4,186.
Long trades can be considered during a correction at the strong support (A) 4,048–4,038 and support (B) 3,998–3,983 with the primary target at this week’s high.
XAUUSD Trading Ideas for Today:
Buy at support (A) 4,048–4,038. TakeProfit: 4,094, 4,148. StopLoss: 4,013.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend. Last week, the price reached the resistance (A) 1.1587–1.1576. However, bears managed to keep the asset below this zone. Therefore, short trades can be considered this week with the first target at 1.1528 and the second one at last week’s low.
If the euro price breaks above the resistance (A) today, the correction will extend to the resistance (B) 1.1647–1.1630. This zone is the trend boundary. Thus, consider short trades near it.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance (A) 1.1587–1.1576. TakeProfit: 1.1528, 1.1468. StopLoss: 1.1613.
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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