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.
The oil price is trading in a correction within the short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is approaching the support (A) 59.57–59.29.
- XAUUSD: Gold is rising in a correction after touching the Target Zone 3,931–3,913.
- EURUSD: The euro is trading in a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a correction within the short-term uptrend and nearing the support (A) 59.57–59.29. Once this zone is reached, long trades can be considered with the first target at 60.82 and the second one at last week’s high of 62.36.
If the price breaks below the support (A) today, the correction will extend to the trend boundary 58.17–57.75. Consider long trades near this zone with the main target at last week’s high.
USCrude Trading Ideas for Today:
Buy at support (A) 59.57–59.29. TakeProfit: 60.82, 62.36. StopLoss: 58.55.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term downtrend and is approaching the resistance (A) 3,996–3,986. Once this zone is tested, consider short trades with the first target at 3,941 and the second target at yesterday’s low of 3,886. If the price falls lower, it may reach the Gold Zone 3,831–3,821.
If the asset starts to increase and breaks above the resistance (A) today, the correction will continue to the trend boundary 4,051–4,036. Consider short trades near this zone.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3,996–3,986. TakeProfit: 3,941, 3,886. StopLoss: 4,020.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro remains in a short-term downtrend. The second bearish target is the October low of 1.1542. Therefore, consider holding the short trades initiated at the resistance 1.1720–1.1704 open.
If the price begins to rise and pierces the resistance (B) 1.1720–1.1704, the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 1.1898–1.1866, starting from the next trading day.
EURUSD Trading Ideas for Today:
Hold a part of short trades opened at resistance (B) 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 USCRUDE in real time mode
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