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.
Oil extends its short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has broken above the upper Target Zone 58.98–58.61.
- XAUUSD: Gold is declining in a correction after hitting the Target Zone 4,670–4,634.
- EURUSD: The euro is rebounding from the support B 1.1646–1.1629.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term uptrend. The price has pierced the upper Target Zone 58.98–58.61. The next bullish target is the Gold Zone 60.66–60.48. If the oil price breaks above this zone, it may climb to the Target Zone 2, 62.72–62.34.
Long trades can be considered during a correction at the strong support A 57.90–57.71, with the first target at 58.74 and the second one at 59.77. If the asset breaks below the support A, it may drop to the support B 56.97–56.69, the trend boundary.
USCrude Trading Ideas for Today:
Buy near support A 57.90–57.71. TakeProfit: 58.74, 59.77. StopLoss: 57.28.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold continued to rise, approaching the Target Zone 4,670–4,634. Now, the price is falling in a correction. If the asset plunges to the support A 4,510–4,498, long trades can be considered, with the first target at 4,564 and the second one at 4,630.
If the gold price breaks below the support A, the correction will proceed to the support B 4,450–4,432, the trend boundary. Thus, consider long trades targeting 4,630.
XAUUSD Trading Ideas for Today:
Buy near support A 4,510–4,498. TakeProfit: 4,564, 4,630. StopLoss: 4,467.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued its short-term bullish trend. The price started to grow after reaching the support 1.1646–1.1629, the trend boundary. The first bullish target is at 1.1718, and the second one is the December high of 1.1808. If the price exceeds this high, it may pierce the upper Target Zone 1.1825–1.1792.
If the asset breaks below the support B today, the short-term uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 1.1484–1.1451.
EURUSD Trading Ideas for Today:
Hold long trades/buy near support B 1.1646–1.1629. TakeProfit: 1.1718, 1.1808. StopLoss: 1.1595.
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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