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 exceeded the previous day’s high.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has approached the Target Zone of 100.93–99.60.
- XAUUSD: Gold has reached the first sell target of 4,122.
- EURUSD: The euro is trading near the boundary of the short-term downtrend at 1.1251–1.1239.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price continued to rise and surpassed the previous day’s high. Afterward, the asset approached the Target Zone of 100.93–99.60. If the price breaks above this zone, the next upside target will be the Gold Zone of 104.47–104.03. If sellers hold the Target Zone, a downward correction may unfold.
If a correction starts, the price may decline toward support A at 95.09–94.65. Once this area is tested, consider long trades, with the first target at 97.08 and the second target at yesterday’s high of 99.52.
USCrude Trading Ideas for Today:
Buy near support A at 95.09–94.65. TakeProfit: 97.08; 99.52. StopLoss: 93.56.
Gold Forecast for Today: XAUUSD Analysis
After testing resistance A at 4,179–4,169 and failing to break above it, gold began to decline. Today, the asset reached the first sell target around 4,122. The next target is the Gold Zone at 4,081–4,070. The remaining short trades can be moved to the breakeven point.
If the gold price settles above resistance A, it may correct higher to resistance B at 4,235–4,220. This zone marks the trend boundary, so consider short trades near it.
XAUUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance A at 4,179–4,169. TakeProfit: 4,066. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro declined toward the first sell target at 1.1182 but failed to test it and began to rise. Today, the price is once again approaching resistance B at 1.1251–1.1239. This zone is the trend boundary. If the price remains below this zone, consider short trades, with the first target at 1.1182 and the second target at the October 14 low of 1.1113.
If the EURUSD pair breaks above resistance B, the short-term trend will turn bullish. In that case, consider long trades, with a target in the upper Target Zone of 1.1390–1.1365.
EURUSD Trading Ideas for Today:
Sell / Hold short trades opened 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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