I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Gold has reached its upper Target Zone 3515–3493.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is piercing the resistance (A) 64.75–64.44 within a correction.
- XAUUSD: Gold has reached the upper Target Zone 3515–3493.
- EURUSD: The euro is rising within a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil has exceeded its last week’s high and is breaching the resistance (A) 64.75–64.44. If the quotes consolidate above this zone, the correction will continue to the resistance (B) 66.46–65.99, the trend boundary. Once this zone is reached, short trades can be considered with the first target of 63.90 and the second one near 61.34.
The price should break through and settle above the 66.46 level to create buying opportunities and reverse the trend.
USCrude Trading Ideas for Today:
Sell near resistance (B) 66.46–65.99. TakeProfit: 63.90, 61.34. StopLoss: 67.30.
Gold Forecast for Today: XAUUSD Analysis
Gold has reached the upper Target Zone 3515–3493 within the short-term uptrend. If the price continues to climb and pierces the Target Zone, the bullish target will be the Gold Zone 3575–3568. If not, a downward correction may start.
If the correction develops, the asset may fall to the support (A) 3433–3426. Once this zone is reached, long trades can be considered with the first target of 3467 and the second one at this week’s high.
The trend boundary is shifting to 3396–3384.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3433–3426. TakeProfit: 3467, 3508. StopLoss: 3413.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term uptrend. The price is rising from the support (A) 1.1626–1.1615 with the target at the August high near 1.1742. If the asset consolidates above this level, it may break through the upper Target Zone 1.1774–1.1739. In this case, the next bullish target will be the Gold Zone 1.1867–1.1855.
If a downward correction unfolds, the price may test the support (A). Consider long trades near this zone with the first target of 1.1678. The second target will be the August high.
The key support level is shifting to 1.1568–1.1551.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (A) 1.1626–1.1615. TakeProfit: 1.1742. StopLoss: at the breakeven.
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Price chart of XAUUSD in real time mode
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