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 gold price is trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil prices continued to fall yesterday.
- XAUUSD: Gold is trying to settle below the Target Zone of 4,335–4,313.
- EURUSD: The euro is attempting to rebound from the Target Zone of 1.1525–1.1492.
Oil Price Forecast for Today: USCrude Analysis
Oil extends its short-term downtrend this week. The price is testing the lower Target Zone of 88.54–86.93. If the asset breaks below this zone, the price may slide to the Gold Zone of 82.94–82.38.
If bulls manage to hold the Target Zone today, an upward correction will begin, and the resistance B of 94.65–93.81 will become the next buy target.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading within a short-term downtrend. The price is attempting to break through the Target Zone of 4,335–4,313. If the metal settles below this zone, the price may drop to the Gold Zone of 4,224–4,213.
If bulls defend the Target Zone, an upward correction will begin. In this case, the gold price may reach the resistance A of 4,390–4,379. Once this zone is tested, consider short trades, with the first target at 4,329 and the second one near 4,268.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,390–4,379. TakeProfit: 4,329, 4,268. StopLoss: 4,416.
Euro/Dollar Forecast for Today: EURUSD Analysis
After reaching the Target Zone of 1.1525–1.1492, an upward correction began. If the correction continues this week, the euro may climb to the resistance A of 1.1605–1.1595. Once this zone is tested, consider short trades within the short-term downtrend. The first bearish target will be the 1.1552 level, and the second one will be this week's low of 1.1499.
If the EURUSD pair breaks below the Target Zone, the asset may decline toward the Gold Zone of 1.1429–1.1419.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1605–1.1595. TakeProfit: 1.1552, 1.1499. StopLoss: 1.1628.
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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