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.
The euro is once again rebounding from the support B at 1.1687–1.1670.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has shifted to a short-term downtrend.
- XAUUSD: Gold reached the resistance A of 4,656–4,642 during a correction.
- EURUSD: Bulls managed to hold the support B of 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
Oil’s short-term trend has turned bearish, and the price broke below the support B at 99.24–98.43. If it closes below this zone today, consider short trades tomorrow, with the primary target in the lower Target Zone of 91.15–89.53.
If the oil price rises back to the support B today, one may open long trades, with the first target at 102.89 and the second one at 107.32 once a bullish pattern appears.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
The gold price has climbed to the resistance A of 4,656–4,642. The short-term trend remains bearish. If a sell signal shows up near the resistance A, consider short trades, with the first target at 4,578 and the second one at 4,500.
If gold settles above the resistance A, the correction will continue to the resistance B at 4,734–4,713. This zone marks the trend boundary. Consequently, consider short trades near it.
XAUUSD Trading Ideas for Today:
Sell/hold short trades opened at resistance A of 4,656–4,642. TakeProfit: 4,578, 4,500. StopLoss: 4,692.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is once again rebounding from the support B of 1.1687–1.1670. The first bullish target is 1.1760, and the second one is the April high of 1.1849. Long trades can be considered today with a stop-loss order placed below this week's low.
If the euro price breaks below the support B today, the short-term trend will turn bearish. In this case, consider short trades, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Buy at 1.1708. TakeProfit: 1.1760, 1.1849. StopLoss: 1.1673.
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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