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.
Gold is trading in a downward correction and may consolidate below the support (A).
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the Target Zone 60.70–59.77.
- XAUUSD: Gold is testing the support (A) 3,974–3,965.
- EURUSD: The euro has reached the Target Zone 1.1570–1.1536.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to decline and is testing the Target Zone 60.70–59.77. If quotes settle below this level, the next bearish target will be the Gold Zone 57.60–57.29. If the asset remains above the Target Zone, a correction may start.
If the correction unfolds, the price may climb to the resistance (A) 63.62–63.31. Consider short trades near this zone with the first target at 61.91 and the second one at 60.20.
USCrude Trading Ideas for Today:
Sell near resistance (A) 63.62–63.31. TakeProfit: 61.91, 60.20. StopLoss: 64.45.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a downward correction and is trying to consolidate below the support (A) 3,974–3,965. If the price pierces this zone, the correction will likely extend to the support (B) 3,931–3,918, the short-term uptrend’s boundary. Consider long trades near this zone with the first target at 3,989 and the second one at 4,059.
The price should fall below 3,918 to create selling opportunities and reverse the trend.
XAUUSD Trading Ideas for Today:
Buy near support (B) 3,931–3,918. TakeProfit: 3,989, 4,059. StopLoss: 3,894.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to decrease and reached the lower Target Zone 1.1570–1.1536. If the price breaks through this zone, the next bearish target will be the Gold Zone 1.1454–1.1443. If not, an upward correction may begin.
If the correction emerges, the price may hit the resistance (A) 1.1661–1.1650. Consider short trades near this zone with the first target at 1.1601 and the second one at this week’s low. If the price consolidates above the resistance (A), the correction will continue to the trend boundary 1.1720–1.1704. One may consider short trades near this zone.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1661–1.1650. TakeProfit: 1.1601, 1.1542. StopLoss: 1.1687.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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