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.
Gold continues to fall within a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has moved from the resistance B of 95.44–94.79 to the first bearish target.
- XAUUSD: Gold is approaching the Target Zone 2 of 4,158–4,135.
- EURUSD: The euro is testing the Gold Zone of 1.1375–1.1367.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade within a short-term downtrend. Last week, the first sell target at the 91.84 level was reached. The second sell target is 88.25. Today, hold short positions opened earlier near the resistance level B at 95.44–94.79.
An alternative scenario may emerge if the price breaks through the resistance B of 102.63–101.32 and consolidates above it during the US trading session. In this case, the short-term trend will reverse to the upside. As a result, consider buying with a target in the upper Target Zone.
USCrude Trading Ideas for Today:
Hold short trades opened near resistance B at 95.44–94.79. TakeProfit: 88.25. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to fall within a short-term downtrend. Today, the price has hit the second sell target of 4,235 from the resistance B of 4,415–4,398. The price is approaching the Target Zone 2 of 4,158–4,135. If this zone is broken through, the next target will be the Gold Zone 2 of 4,049–4,038.
As a result, consider selling on pullbacks today. The nearest strong resistance area is between 4,295 and 4,284.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,295–4,284. TakeProfit: 4,233, 4,171. StopLoss: 4,321.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend. The price is testing the Gold Zone of 1.1375–1.1367. If this zone is pierced, the next downside target will be the Target Zone 2 of 1.1291–1.1274.
Consider short positions on pullbacks from strong resistance levels at 1.1451–1.1443. If the price moves into this area, short positions can be considered with targets at 1.1405 and 1.1359.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1451–1.1443. TakeProfit: 1.1405, 1.1359. StopLoss: 1.1472.
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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