Welcome, my fellow traders! I have prepared a price forecast for the USCrude, 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.
Gold is undergoing a correction within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising from the support A of 101.93–101.39.
- XAUUSD: Gold is trading in a correction.
- EURUSD: The euro is rising after reaching the support B at 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price failed to break below the support A at 101.93–101.39. Consequently, the short-term uptrend may continue today, with the first target at 104.39 and the second one at 107.32. If the price settles above the 107.32 level, the rally may continue toward the Gold Zone 2 of 111.75–111.21.
If the oil price breaks below the support A, the correction will continue to the support B at 99.24–98.43, the trend boundary.
USCrude Trading Ideas for Today:
Hold long trades opened at support A of 101.93–101.39. TakeProfit: 104.39, 107.32. StopLoss: 99.99.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term downtrend. Yesterday, the price rebounded and tried to reach the resistance A at 4,666–4,651, but the metal remained below that zone. However, the correction may continue today. If the price eventually reaches the resistance A today, consider short trades, with the first target at 4,588 and the second one at 4,510.
Should the price break below 4,510, it may test the lower Target Zone of 4,466–4,423.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,666–4,651. TakeProfit: 4,588, 4,510. StopLoss: 4,700.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is rising from the support B of 1.1687–1.1670. The first bullish target is at 1.1760, and the second one is at 1.1849. If the price breaks above 1.1849, it may climb further to the Target Zone 2 of 1.1972–1.1950.
If the EURUSD pair begins to decline today and pierces the support B, the short-term trend will turn bearish. In this case, consider selling the euro, targeting the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Hold long trades opened at support B of 1.1687–1.1670. TakeProfit: 1.1760, 1.1849. StopLoss: 1.1629.
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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