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 is experiencing a modest technical rebound.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is attempting to break through the lower Target Zone of 88.79–87.46.
- XAUUSD: Gold is approaching the resistance A at 4,223–4,213.
- EURUSD: The euro broke through the Gold Zone of 1.1375–1.1367.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to fall yesterday. As a result, the price reached the second sell target around 88.25. Oil is currently testing the Target Zone of 88.79–87.46. If this zone is broken through, the next target will be the Gold Zone of 84.36–83.92.
Look for new selling opportunities on pullbacks from strong resistance levels in the 92.45–92.01 range.
USCrude Trading Ideas for Today:
Sell near resistance A at 92.45–92.01. TakeProfit: 90.03, 87.58. StopLoss: 93.51.
Gold Forecast for Today: XAUUSD Analysis
Gold has rebounded in a minor technical correction, approaching the resistance A at 4,223–4,213. Around this level, one could consider opening short positions, targeting 4,167 and the September 28 low of 4,110.
If the resistance level A is pierced today, the correction will continue toward the resistance B at 4,280–4,264.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,223–4,213. TakeProfit: 4,167, 4110. StopLoss: 4,248.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro broke through the Gold Zone of 1.1375–1.1367. The next sell target is the Target Zone of 1.1291–1.1274. Today, prices are correcting higher. If the correction continues, the price may test the resistance A at 1.1404–1.1395. Once this level is tested, consider short positions with targets at 1.1358 and the weekly low of 1.1311.
The boundary of the short-term downtrend can be shifted to the 1.1450–1.1437 range.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1404–1.1395. TakeProfit: 1.1358–1.1311. StopLoss: 1.1424.
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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