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 have identified entry signals for intraday traders.
The euro tested the resistance A of 1.1253–1.1245 yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The price will likely test the resistance A of 91.18–90.73 as part of a correction.
- XAUUSD: The price has remained below the 4,170 resistance level and has started to decline.
- EURUSD: The euro is falling from the resistance A of 1.1253–1.1245.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price attempted to break through the Target Zone of 88.79–87.46. However, it failed and retreated to the support level before starting to rise.
Today, oil prices are approaching the resistance A of 91.18–90.73. After testing this zone, short positions can be considered with targets at 88.75 and 86.30.
If the resistance A is broken through, the correction will continue toward the resistance B of 93.61–92.95.
USCrude Trading Ideas for Today:
Sell at resistance A at 91.18–90.73. TakeProfit: 88.75; 86.30. StopLoss: 92.24.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend. The sell target is in the Gold Zone at 4,081–4,070. Consider short positions on pullbacks from a strong resistance level at 4,170. The profit target is yesterday's low of 4,104.
Short positions can also be considered near the 4,217–4,206 range with targets at 4,160 and 4,104.
XAUUSD Trading Ideas for Today:
Sell at resistance A at 4,217–4,206. TakeProfit: 4,160; 4,104. StopLoss: 4,243.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro tested the resistance A at 1.1253–1.1245 as part of a correction within the short-term downtrend. During the US session, this resistance level was pierced, but the price failed to settle above it.
Today's price action during the Asian session confirms that the price remains below the resistance A. As a result, consider selling the euro near this area or keeping your short positions open. The first target is the 1.1207 level, and the second target is the October 5 low of 1.1161.
EURUSD Trading Ideas for Today:
Hold short positions or sell near resistance A at 1.1253–1.1245. TakeProfit: 1.1207; 1.1161. StopLoss: 1.1268.
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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