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 extended its short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil market has entered a downward trend.
- XAUUSD: Gold has reached its second bullish target around 4,858.
- EURUSD: The euro has broken above the upper Target Zone of 1.1767–1.1734.
Oil Price Forecast for Today: USCrude Analysis
Today, oil turned bearish and pierced the key support zone between 89.92 and 89.10. Now, the bearish target is the lower Target Zone of 81.72–80.08.
Consider short trades on pullbacks at the strong resistance of 90.86–90.31, with the first target at 87.85 and the second one at today’s low of 84.84.
USCrude Trading Ideas for Today:
Sell near resistance A at 90.86–90.31. TakeProfit: 87.85, 84.84. StopLoss: 92.22.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold continued its short-term uptrend, reaching the second bullish target of 4,858. If the price settles above the Gold Zone at 4,832–4,814, the next target will be the Target Zone at 4,972–4,941. If bears manage to keep the asset below the Gold Zone, a downward correction may start.
During the correction, the metal may fall to the support A at 4,718–4,702. Once this zone is tested, consider long trades near this zone with the first target at 4,787 and the second one at 4,871.
XAUUSD Trading Ideas for Today:
Buy near support A 4,718–4,702. TakeProfit: 4,787, 4,871. StopLoss: 4,663.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to rise. Yesterday, the price broke above the upper Target Zone of 1.1767–1.1734. The next target is the Gold Zone of 1.1853–1.1842.
Consider long trades during pullbacks at the strong support A of 1.1703–1.1692 and support B of 1.1649–1.1633, with the first target at 1.1752 and the second one at yesterday's high of 1.1811.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1703–1.1692. TakeProfit: 1.1752, 1.1811. StopLoss: 1.1664.
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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