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 price is correcting higher.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continues to test resistance B at 93.61–92.95.
- XAUUSD: Gold has returned below resistance A at 4,179–4,169.
- EURUSD: The euro is rising, possibly targeting resistance A at 1.1244–1.1235.
Oil Price Forecast for Today: USCrude Analysis
The oil price is testing key resistance at 93.61–92.95 within the short-term downtrend. Sellers are holding this zone for now. Consequently, if a sell pattern forms near this zone, one may consider short trades, with the first target at 89.95 and the second target at 86.30.
If the price breaks above resistance B at 93.61–92.95, the short-term trend will shift to an uptrend.
USCrude Trading Ideas for Today:
Sell/hold short trades opened near resistance B at 93.61–92.95. TakeProfit: 89.95, 86.30. StopLoss: 94.64.
Gold Forecast for Today: XAUUSD Analysis
Gold is declining within a short-term downtrend and is approaching the first sell target of 4,122. If the price falls lower, the next sell target will be 4,066. If the price pierces the 4,066 level, it may decline to the Target Zone of 3,978–3,957.
If the gold price breaks above resistance A at 4,179–4,169, the correction will continue up to resistance B at 4,235–4,220.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,179–4,169. TakeProfit: 4,122, 4,066. StopLoss: 4,194.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is undergoing an upward correction. The short-term trend remains bearish. If the price reaches resistance A at 1.1244–1.1235 during this correction, one may consider short trades, with the first target at 1.1198 and the second at 1.1151.
If the EURUSD pair breaks above resistance A, the correction will continue up to resistance B at 1.1290–1.1277, the upper boundary of the trend. Consider short positions near this zone.
EURUSD Trading Ideas for Today:
Sell near resistance A at 1.1244–1.1235. TakeProfit: 1.1198, 1.1151. StopLoss: 1.1265.
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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