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 are still trading in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is maintaining its short-term uptrend.
- XAUUSD: Gold has reversed its short-term uptrend.
- EURUSD: The euro is declining after touching the resistance (B) 1.1647–1.1630.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues its short-term uptrend. If the asset settles above 60.07, the next bullish target will be 62.36.
If oil falls below the support (B) 58.17–57.75, the short-term uptrend will change to a downtrend. In this case, consider short trades on the next trading day with a target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold part of the long trades opened at support (B) 58.17–57.75. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reversed its short-term uptrend, breaking below the key support zone 4,095–4,080. The next bearish target is the lower Target Zone 3,945–3,935.
Consider short trades during a correction at the resistance (A) 4,114–4,104 and resistance (B) 4,169–4,154. If a bearish pattern forms within these zones, one may open a short trade with the main target at today’s low.
XAUUSD Trading Ideas for Today:
Sell at resistance (A) 4,114–4,104. TakeProfit: 4,059, 4,004. StopLoss: 4,138.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro price tested the boundary of the short-term downtrend at 1.1647–1.1630 but failed to pierce it. Therefore, the downtrend remains intact. Traders had an opportunity to open short positions at the key resistance, with the first target at 1.1557 and the second one near 1.1468. Today, short trades can also be opened with a stop-loss order above last week’s high.
If the euro consolidates above last week’s high, the short-term downtrend will reverse. In this case, consider long trades on the next trading day with a target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Hold the short trades opened at resistance (B) 1.1647–1.1630. TakeProfit: 1.1557, 1.1468. StopLoss: 1.1683.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of USCRUDE in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
