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.
Oil prices are rising toward the Target Zone 2.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising and approaching the Target Zone 2 of 94.49–93.68.
- XAUUSD: Gold has reached the first bearish target of 4,367.
- EURUSD: The euro has hit the first bullish target of 1.1642.
Oil Price Forecast for Today: USCrude Analysis
Oil is climbing toward the Target Zone 2 of 94.49–93.68. If the price breaks above this zone, the next target will be the Gold Zone 2 of 98.48–98.04. If a downward correction begins from current prices, the asset may decline to the support zone A at 88.11–87.67. Consider long trades near this zone, with the first target at 90.07 and the second one near today’s high.
USCrude Trading Ideas for Today:
Buy near support A of 88.11–87.67. TakeProfit: 90.07, 92.47. StopLoss: 86.62.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold prices continued to fall, reaching the first bearish target of 4,367. The price breached this level, so the next bearish target is the September 2 low of 4,282.
If the gold price begins to rise and exceeds the 4,464 level, the short-term trend will turn upward. In that case, consider long trades the next trading day, with a target in the upper Target Zone of 4,621–4,590.
XAUUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance B of 4,451–4,436. TakeProfit: 4,282. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is rising and has reached the first bullish target set for the trades opened at support B of 1.1585–1.1572. The second bullish target is the August high of 1.1711. Therefore, consider holding a portion of previously opened long positions at the breakeven point today.
If the price reverses downward and breaks below support B, the short-term trend will turn bearish. In that case, consider short trades the next trading day, with a target in the lower Target Zone of 1.1459–1.1434.
EURUSD Trading Ideas for Today:
Hold part of the long trades opened at support B of 1.1585–1.1572. TakeProfit: 1.1711. StopLoss: at breakeven.
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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