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.
Yesterday, oil tested the support (A) 59.57–59.29.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rebounding from the support (A) 59.57–59.29.
- XAUUSD: Gold is trading in a short-term downtrend.
- EURUSD: The euro continues to climb in a correction.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil tested the support (A) 59.57– 59.29 within the short-term uptrend. Bulls managed to keep the asset above this zone. Moreover, a bullish pattern has formed. Therefore, consider holding long trades open until the price hits the first target at 60.82 and the second one at 62.36.
If the oil price breaks below the support (A) today, the correction will extend to the trend boundary 58.17–57.75. Consider long trades near this zone.
USCrude Trading Ideas for Today:
Hold long trades opened at support (A) 59.57–59.29. TakeProfit: 60.82, 62.36. StopLoss: 58.54.
Gold Forecast for Today: XAUUSD Analysis
As of Friday morning, gold is trading in a correction within the short-term downtrend and approaching the resistance (A) 4,051–4,036. Once the price tests this zone, one may consider short trades with the first target at 3,969 and the second one near 3,886.
If the gold price breaks above the resistance (A), the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 4,216–4,186.
XAUUSD Trading Ideas for Today:
Hold a part of short trades opened at resistance (B) 4,051–4,036. TakeProfit: 3,886. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro advanced in a correction within the short-term downtrend and approached the resistance (A) 1.1587–1.1576. If the asset touches this zone today, short trades can be considered with the first target at 1.1528 and the second one near this week's low.
If the euro price breaks above the resistance (A) today, the correction will extend to the trend boundary 1.1647–1.1630.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1587–1.1576. TakeProfit: 1.1528, 1.1468. StopLoss: 1.1613.
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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