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 oil price has once again tested the resistance B of 95.44–94.79.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading below the resistance B of 95.44–94.79.
- XAUUSD: Gold has reached the Target Zone 2 of 4,158–4,135.
- EURUSD: The euro has pierced the Gold Zone 1.1375–1.1367.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil once again tested resistance zone B at 95.44–94.79. The remaining short positions opened earlier near this zone were closed at breakeven. However, the price remained below the resistance B. As a result, short positions could have been considered with a first target at the September 25 low and a second target around the 88.25 level.
Also yesterday, the price hit a new low, breaking below the September 25 low. This means that you can hold the remaining short positions with a target around 88.25.
A breakout above resistance level B, followed by a sustained move above it, would invalidate the sell scenario. In that case, the short-term downtrend would reverse.
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 continued to decline yesterday. As a result, the Target Zone of 4,158–4,135 was reached. Today, the price may consolidate below this zone. If confirmed, the next sell target will be the Gold Zone of 4,049–4,038.
Short positions can be opened on rebounds from a strong resistance area of 4,230–4,219.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,230–4,219. TakeProfit: 4,170, 4,110. StopLoss: 4,257.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has broken through the Gold Zone of 1.1375–1.1367. If it settles below this area, the next bearish target will be the Target Zone of 1.1291–1.1274.
Consider selling the euro after the price corrects and tests a strong resistance area of 1.1445–1.1437 or the trend boundary at 1.1491–1.1479.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1445–1.1437. TakeProfit: 1.1399, 1.1353. StopLoss: 1.1466.
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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