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 suggest entry signals for intraday traders.
The euro remains in an uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising toward the Target Zone 2 at 94.49–93.68.
- XAUUSD: Gold is still under bearish pressure.
- EURUSD: The euro is approaching the first bullish target of 1.1642.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term uptrend. The price is climbing toward the Target Zone of 2 at 94.49–93.68. Consider long trades once the price pulls back to the support zone A of 87.61–87.17, with the first target at 89.57 and a second one around 91.97.
USCrude Trading Ideas for Today:
Buy near support A of 87.61–87.17. TakeProfit: 89.57, 91.97. StopLoss: 86.11.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining a short-term downtrend. Bears are holding the price below the resistance zone B of 4,451–4,436. Thus, consider holding short trades until the first target of 4,367 is reached. If the price breaks below this level, the next bearish target will be at 4,282.
The price should break above the 4,464 level to create buying opportunities and reverse the trend.
XAUUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 4,451–4,436. TakeProfit: 4,367, 4,282. StopLoss: 4,472.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in an uptrend and is approaching the first bullish target of 1.1642. If the price pierces this level and settles above it, the next target will be the August high of 1.1711. Should the asset exceed the August high, it may climb further toward the Target Zone 2 of 1.1761–1.1744.
If the euro price breaks below the key support of 1.1585–1.1572 within the short-term uptrend, one may consider short trades the next trading day, aiming for the lower Target Zone of 1.1459–1.1434.
EURUSD Trading Ideas for Today:
Hold long trades opened near support B of 1.1585–1.1572. TakeProfit: 1.1642, 1.1711. StopLoss: 1.1579.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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