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.
The euro drops to a 17-month low.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the Target Zone of 88.79–87.46.
- XAUUSD: Gold is approaching the second bearish target near 4,110.
- EURUSD: The euro has pierced the Gold Zone of 1.1207–1.1199.
Oil Price Forecast for Today: USCrude Analysis
On Friday, the oil price continued to fall, reaching the second bearish target of 87.58 set for the trades opened at resistance A at 92.45–92.01. However, the asset failed to break through the lower Target Zone of 88.79–87.46.
Today, the price is testing the Target Zone once again. If it breaks below this zone, the next bearish target will be the Gold Zone of 84.36–83.92. If bulls defend the Target Zone, the price may correct up to resistance A at 92.18–91.74.
USCrude Trading Ideas for Today:
Sell at resistance A at 92.18–91.74. TakeProfit: 89.74; 87.30. StopLoss: 93.25.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading within a short-term downtrend. On Friday, the price once again tested resistance A at 4,223–4,213. However, bears managed to hold this resistance, and the price fell to the first bearish target of 4,167. The next target is at 4,110.
If gold settles below 4,110, it may fall further toward the Gold Zone of 4,081–4,070.
XAUUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance A at 4,223–4,213. TakeProfit: 4,110. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price continues to decline. Today, the asset broke through the Gold Zone of 1.1207–1.1199. The next bearish target is the Target Zone 3 at 1.1123–1.1106.
Consider short trades on a pullback from resistance A at 1.1253–1.1245, with the first target at 1.1207 and the second at today’s low of 1.1161.
If the price pierces today’s low, the resistance zones will require adjustment.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1253–1.1245. TakeProfit: 1.1207; 1.1161. StopLoss: 1.1274.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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