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 corrected lower again and tested support A at 96.59–96.15.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising again from support A at 96.59–96.15.
- XAUUSD: Gold has reached all the bearish targets.
- EURUSD: The euro continues to test resistance B at 1.1251–1.1239.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price corrected lower again and tested the support zone A at 96.59–96.15, giving traders an opportunity to enter long positions. Today, the asset rose, reaching the first bullish target of 98.59. The next target is the upper Target Zone of 100.93–99.60. If the price breaks above this zone, it may climb to the Gold Zone of 104.47–104.03.
If the oil price settles below the 96.16 level, the correction will continue toward the trend boundary at 94.38–93.71.
USCrude Trading Ideas for Today:
Hold part of long trades opened near support A at 96.59–96.15. TakeProfit: 101.02. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Today, gold prices continued to decline, reaching the second bearish target of 4,066. This target was set for the trades opened at resistance A at 4,179–4,169. If the price falls further and breaks below the Gold Zone of 4,081–4,070, the next bearish target will be the Target Zone of 3,978–3,957.
Consider short trades at previous resistance levels, with the first target at 4,122.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is attempting to break through the key resistance zone of 1.1251–1.1239 and reverse the short-term downtrend. However, sellers continue to hold the resistance zone. Consequently, traders can continue to hold short positions or consider opening new ones. The first bearish target remains at 1.1182. The second target will be the October 14 low.
If the EURUSD pair exceeds the October 16 high, the trend will shift to an uptrend. In this scenario, 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: 1.1273.
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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