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.
Gold extended its short-term downtrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reversed its downtrend.
- XAUUSD: Gold extended its short-term downtrend yesterday, reaching all the bearish targets.
- EURUSD: The euro is trading in a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a short-term uptrend. Consider long trades during a correction at the strong support (A) 59.57–59.29 and support (B) 58.17–57.75, with the main target at last week’s high.
If the price exceeds last week’s high, the support zones should be shifted. The primary bullish target is the upper Target Zone 64.95–64.13.
USCrude Trading Ideas for Today:
Buy from support (A) 59.57–59.29. TakeProfit: 60.82, 62.36. StopLoss: 58.55.
Gold Forecast for Today: XAUUSD Analysis
Gold continued its short-term downtrend yesterday, reaching the second bearish target near 4,004. The next target is the Target Zone 2, 3,931–3,913.
Short trades can be considered on a correction at the strong resistance (A) 4,047–4,038 and resistance (B) 4,097–4,083, with the main target at today’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 4,047–4,038. TakeProfit: 3,996, 3,945. StopLoss: 4,070.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. Last week, the price reached the first bearish target near 1.1631. The second target is the October low of 1.1542.
Currently, the asset is rising in a correction. If the correction persists, the euro may retest the key resistance 1.1720–1.1704. After that, one may consider short trades again.
The price should pierce and settle above the 1.1720 level to reverse the trend and create buying opportunities.
EURUSD Trading Ideas for Today:
Hold a part of short trades opened at resistance (В) 1.1720–1.1704. TakeProfit: 1.1542. StopLoss: at breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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