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, the oil price tested resistance B at 93.61–92.95.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil tested resistance B at 93.61–92.95.
- XAUUSD: Gold remains in a short-term downtrend.
- EURUSD: The euro price has corrected up to resistance B at 1.1251–1.1239.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil tested resistance B at 93.61–92.95. Sellers defended this zone. Today, the price began to decline. Consequently, one may consider short trades, with the first target at 89.95 and the second at the October 6 low of 86.30.
If the price begins to rise and pierces resistance B, the short-term trend will turn upward. In that case, consider long trades tomorrow, targeting the upper Target Zone of 100.93–99.60.
USCrude Trading Ideas for Today:
Sell near resistance B at 93.61–92.95. TakeProfit: 89.95, 86.30. StopLoss: 94.55.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price declined within a short-term downtrend following the release of US inflation data. As a result, the asset reached the first sell target of 4,122 and then tested the Gold Zone of 4,081–4,070. Large short trades were closed there, so the price entered a correction.
If the correction continues and the gold price breaks above resistance A at 4,235–4,220, the metal may climb to the trend boundary at 4,235–4,220. Consider short trades near this zone.
If the price falls and breaks below yesterday’s low, it may break through the Gold Zone. In that case, the next sell target will be the Target Zone of 3,978–3,957.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro began a corrective rally today and reached the boundary of the short-term downtrend at 1.1251–1.1239. Sellers are holding this zone for now. Thus, consider short trades near this zone, with the first target at 1.1182 and the second one around yesterday’s low of 1.1113.
If the EURUSD pair breaks above resistance B at 1.1251–1.1239, the short-term trend will turn upward. In that case, consider long trades tomorrow, targeting the upper Target Zone of 1.1390–1.1365.
EURUSD Trading Ideas for Today:
Sell near resistance B at 1.1251–1.1239. TakeProfit: 1.1182, 1.1113. StopLoss: 1.1276.
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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