Welcome, my fellow traders! I have prepared a price forecast for 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 exceeds last week’s high.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached its second buy target at 103.25 and entered a correction.
- XAUUSD: Gold has reached its second sell target of 3,975 today.
- EURUSD: The euro has reached resistance A at 1.1197–1.1188.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, after a pullback to the support zone A at 98.82–98.38 and a test of the EMA 200, the oil price began to rise and surpassed last week’s high of 103.25. The asset also reached the Gold Zone at 104.47–104.03. Once the price surpassed last week’s high, major traders closed their long trades. So, today, the price is undergoing a correction and is testing the area between the EMA 20 and EMA 50.
If the price continues to rise, it may break above the Gold Zone. In this case, the next buy target will be the Target Zone of 109.35–108.46. If a correction starts, the price may test the new support A at 99.54–99.10.
USCrude Trading Ideas for Today:
Buy near support A at 99.54–99.10. TakeProfit: 101.54, 103.98. StopLoss: 98.00.
Gold Forecast for Today: XAUUSD Analysis
Gold continues its short-term downtrend. Today, the price reached the second downside target at 3,975, completing the sell setup at resistance A at 4,088–4,078.
If the price breaks through the Target Zone of 3,978–3,957, the decline may continue toward the Gold Zone of 3,875–3,865. If buyers hold the Target Zone, an upward correction may push the asset toward resistance A at 4,088–4,078.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
After reaching its second sell target this week, the euro went into an upward correction. Yesterday, the price increased, and today it reached resistance A at 1.1197–1.1188. Sellers are holding this resistance zone. Thus, once a reversal pattern appears, consider short trades, with the first target at 1.1150 and the second target around 1.1113.
However, if the euro price breaks above resistance A, the correction will continue toward resistance B at 1.1243–1.1230.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1197 – 1.1188. TakeProfit: 1.1150, 1.1113. StopLoss: 1.1214.
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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