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.
Oil is rising in a correction within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is approaching the trend boundary 61.11–60.64.
- XAUUSD: Gold reached its first bearish target for the trades opened at the resistance (B) 4,152–4,139 yesterday.
- EURUSD: The euro continues to trade in a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is increasing in a correction within the short-term bearish trend and is nearing the resistance (B) 61.11–60.64, the trend boundary. Once this zone is reached, short trades can be considered with the first target at 58.52 and the second one at this week’s low of 55.94.
If the asset breaks above the resistance (B) today, the downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 64.95–64.13.
USCrude Trading Ideas for Today:
Sell near resistance (B) 61.11–60.64. TakeProfit: 58.52, 55.94. StopLoss: 61.95.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, after testing the resistance (B) 4,152–4,139, gold extended its short-term downtrend. The resistance (B) is the trend boundary. As a result, the price reached the first bearish target near 4,078. Today, the asset may hit the second target at 4,004.
If the price begins to climb and breaks through the resistance (B), the short-term downtrend will reverse. In this case, long trades can be considered with a target in the upper Target Zone 4,301–4,274.
XAUUSD Trading Ideas for Today:
Hold up short trades opened at resistance (B) 4,152–4,139. TakeProfit: 4,004. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to decline within a short-term downtrend. The price is approaching the second target near 1.1542 in the lower Target Zone 1.1570–1.1536. If the asset settles lower, the next bearish target will be the Gold Zone 1.1454–1.1443. If the price remains above the Target Zone 1.1570–1.1536, an upward correction may start.
If the upward correction develops, the euro may rise to the resistance (B) 1.1720–1.1704, the trend boundary. Consider short trades near this zone.
EURUSD Trading Ideas for Today:
Hold up short trades opened at resistance (B) 1.1720–1.1704. TakeProfit: 1.1542. StopLoss: at the breakeven.
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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