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.
Last week, oil reached the lower Target Zone 60.70–59.77.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trying to start an upward correction.
- XAUUSD: Gold sets new all-time highs.
- EURUSD: The euro is approaching its second bearish target near 1.1645.
Oil Price Forecast for Today: USCrude Analysis
Last week, oil declined to the lower Target Zone 60.70–59.77. Major short trades were closed near this zone. After that, an upward correction began. If the correction continues this week, the price may test the resistance (A) 63.62–63.31. Once this zone is tested, one may consider short trades with the first target at 61.91 and the second at last week's low of 60.20.
If the price breaks through the resistance (A) today, the correction will extend up to the resistance (B) 65.32–64.86. This zone is the trend boundary. Therefore, consider short trades near this zone.
USCrude Trading Ideas for Today:
Sell near resistance (A) 63.62–63.31. TakeProfit: 61.91, 60.20. StopLoss: 64.45.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. Last week, the price hit the Gold Zone 3,898–3,890. Today, the asset broke above this zone. The next bullish target is the Target Zone 3,986–3,970.
Long trades can be considered on corrections at the strong support (A) 3,860–3,851 and support (B) 3,817–3,804, with the primary target at this week's high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3,860–3,851. TakeProfit: 3,898, 3,945. StopLoss: 3,829.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro extended its short-term downtrend after testing the resistance (A) 1.1773–1.1761. As a result, the price reached the first bearish target near 1.1709. The next target is the September 25 low of 1.1645.
If the price settles below this level, it may decline to the lower Target Zone 1.1570–1.1536. Should the asset begin to rise and pierce the resistance (A), the correction will continue to the resistance (B) 1.1837–1.1819. This zone is the trend boundary. Thus, consider short trades near this zone.
EURUSD Trading Ideas for Today:
Hold up short trades opened at resistance (A) 1.1773–1.1761. TakeProfit: 1.1645. StopLoss: at the 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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