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.
Short-term forecast for oil, gold, and euro-dollar today. The euro price has declined again and is testing support (A) at 1.1626 – 1.1615.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has broken above resistance (A) at 64.75 – 64.44 within a correction.
- XAUUSD: Gold is trading near its historical highs.
- EURUSD: The euro is correcting downward.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil broke above resistance (A) at 64.75 – 64.44, suggesting that the upward correction will likely extend to resistance (B) at 66.46 – 65.99, which serves as the short-term downtrend’s boundary. Once this zone is tested, new short positions can be considered with an initial target at 63.90 and the second one at 61.34.
If resistance (B) is broken to the upside, the trend will shift to bullish. In that case, consider buying opportunities with a target in the upper target zone at 71.58 – 70.65.
USCrude Trading Ideas for Today:
Sell near resistance (В) 66.46 – 65.99. TakeProfit: 63.90, 61.34. StopLoss: 67.30.
Gold Forecast for Today: XAUUSD Analysis
The gold price continues rising, and the short-term trend remains bullish. Yesterday, market participants broke above the target zone of 3,515 – 3,493 and set a new all-time high. The next growth target is the golden zone at 3,575 – 3,568.
I recommend considering new longs during a correction from strong support levels — support (А) 3,471 – 3,464 and support (В) 3,434 – 3,423. The main buying target will be the current week’s high.
XAUUSD Trading Ideas for Today:
Buy near support (А) 3,471 – 3,464. TakeProfit: 3,505, 3,546. StopLoss: 3,449.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price has declined again and is testing support (A) at 1.1626 – 1.1615. The short-term trend remains bullish. Therefore, as long as buyers hold support (A), long positions can be considered with the first target at 1.1678 and the second target around 1.1742.
If support (А) is broken to the downside, the correction will continue to support (В) 1.1568 – 1.1551, which is the trend’s boundary. Thus, long positions from this zone also look attractive, with the key target at 1.1742.
EURUSD Trading Ideas for Today:
Watch the market.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
