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.
Gold is rising, reaching the upper Target Zone 4,670–4,634.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has climbed to the Gold Zone 60.66–60.48 but failed to settle above it.
- XAUUSD: Gold has reached the Target Zone 4,670–4,634 and is trying to break through it.
- EURUSD: The euro is testing the support B 1.1646–1.1629, the boundary of the uptrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price continued to grow and reached the Gold Zone 60.66–60.48. However, bulls failed to keep the asset above this zone. Thus, the price is now declining in a correction. If the correction persists, the asset may reach the support A 59.28–59.09. Once this zone is tested, consider long trades with the first target at 60.16 and the second one at 61.21.
If the price of oil breaks below the support A, it may plunge to the support B 58.35–58.07, the trend boundary. Therefore, one may consider long trades near this zone.
USCrude Trading Ideas for Today:
Buy near support A 59.28–59.09. TakeProfit: 60.16, 61.21. StopLoss: 58.64.
Gold Forecast for Today: XAUUSD Analysis
Gold has climbed to the upper Target Zone 4,670–4,634 within a short-term uptrend. If the asset breaks above the Target Zone, the next bullish target will be the Gold Zone 4,766–4,754.
If bears manage to keep the gold price below the Target Zone, a downward correction may begin, dragging the asset down to the support A 4,519–4,507. Once this zone is tested, consider long trades with the main target at today's high of 4,639.
XAUUSD Trading Ideas for Today:
Buy near support A 4,519–4,507. TakeProfit: 4,574, 4,639. StopLoss: 4,478.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining a short-term uptrend. The price is testing the support B 1.1646–1.1629, the trend boundary. Consider long trades near this zone with the first target at 1.1718 and the second one at 1.1808.
If the euro price 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 XAUUSD in real time mode
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