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 euro price is falling and may break below the support B 1.1646–1.1629.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is declining in a correction after piercing the Gold Zone 60.66–60.48.
- XAUUSD: Gold pulls back from the Target Zone 4,670–4,634.
- EURUSD: The euro may reverse its short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price has breached the Gold Zone 60.66–60.48 but failed to test the Target Zone 2, 62.72–62.34. As a result, a downward correction started, dragging the price to the support B 59.37–59.09. Consider long trades near this zone with the first target at 60.64 and the second one at 62.18.
If the asset breaks below the support B 59.37–59.09, the short-term uptrend will reverse. In this case, one may consider short trades.
USCrude Trading Ideas for Today:
Buy near support B 59.37–59.09. TakeProfit: 60.64, 62.18. StopLoss: 58.51.
Gold Forecast for Today: XAUUSD Analysis
Gold stopped growing after reaching the Target Zone 4,670–4,634. Today, a downward correction began. If the correction continues, the price may plunge to the support A 4,522–4,510. Once this zone is tested, consider long trades with the first target at 4,577 and the second one at 4,642.
If the gold price exceeds yesterday's high today, the asset may pierce the upper Target Zone 4,670-4,634. If so, the price may rise to the Gold Zone 4,766–4,754.
XAUUSD Trading Ideas for Today:
Buy near support A 4,522–4,510. TakeProfit: 4,577, 4,642. StopLoss: 4,481.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is falling and may break below the support B 1.1646–1.1629. If so, the short-term uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 1.1484–1.1451 on the next trading day.
If the price remains above the support B and a bullish pattern forms, one may consider long trades with the first target at 1.1718 and the second one at 1.1808.
EURUSD Trading Ideas for Today:
Watch the market.
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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