Welcome, my fellow traders! I have prepared a price forecast for US Crude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I have identified entry signals for intraday traders.
Yesterday, oil reached the key resistance within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price tested resistance B at 93.61–92.95.
- XAUUSD: Gold is correcting higher.
- EURUSD: The euro reached the second sell target near 1.1151.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil reached the key resistance of the short-term downtrend at 93.61–92.95. Sellers defended this zone. Today, the price is falling toward the first target at 89.95. Thus, consider holding short trades opened near resistance B at 93.61–92.95.
If the oil price breaks above resistance B, the short-term trend will turn bullish, and the upper Target Zone of 100.93–99.60 will become the target for long positions.
USCrude Trading Ideas for Today:
Sell/hold short trades opened near resistance B at 93.61–92.95. TakeProfit: 89.95, 86.30. StopLoss: 94.64.
Gold Forecast for Today: XAUUSD Analysis
Gold remains in a downtrend and is trading below resistance B at 4,235–4,220. This area has not yet been tested, so the price may touch it today. Consider short trades near this zone, with the first target at 4,150 and the second target around 4,066.
If the gold price pierces resistance B, the trend will shift to an uptrend. In that case, consider long trades, with a target in the upper Target Zone of 4,404–4,374.
XAUUSD Trading Ideas for Today:
Sell near resistance B at 4,235–4,220. TakeProfit: 4,150, 4,066. StopLoss: 4,262.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to decline, reaching the second sell target at 1.1161, which was set for the trades opened at resistance A at 1.1253–1.1245. If the decline continues and the price settles below the 1.1161 level, the next sell target will be the Target Zone of 1.1123–1.1106.
Short trades can be considered on a pullback from resistance A at 1.1244–1.1235, with the first target at 1.1198 and a second target at 1.1151.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1244–1.1235. TakeProfit: 1.1198, 1.1151. StopLoss: 1.1265.
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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