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.
Yesterday, oil reached the Gold Zone 57.60–57.29.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has hit the Gold Zone and is now rising.
- XAUUSD: Gold is trying to break through the Target Zone 4,168–4,150.
- EURUSD: The euro is climbing in a correction after testing the Target Zone 1.1570–1.1536.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil reached the Gold Zone 57.60–57.29 within the short-term downtrend. Major short trades were likely closed in this zone, causing an upward correction. If the correction persists today, the asset may grow to the resistance (A) 60.75–60.44. Once this zone is reached, one may consider short trades with the first target at 59.03 and the second one near this week's low.
If the price settles below this week's low, the next bearish target will be the Target Zone 54.45–53.83.
USCrude Trading Ideas for Today:
Sell near resistance (A) 60.75–60.44. TakeProfit: 59.03, 57.31. StopLoss: 61.54.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the second bullish target for the trades opened at the support (A) 4,089–4,080. Today, the price is attempting to consolidate above the Target Zone 4,168–4,150. If so, the next bullish target will be the Gold Zone 4,249–4,240.
Long trades can be considered during corrections at the strong support (A) 4,103–4,094 and support (B) 4,058–4,045, with the primary target at today's high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 4,103–4,094. TakeProfit: 4,144, 4,193. StopLoss: 4,070.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in an upward correction after exceeding last week's low. Notably, the price remained above the Target Zone 1.1570–1.1536. Therefore, the upward correction may extend today towards the resistance (A) 1.1661–1.1650. Once this zone is reached, consider short trades within the short-term downtrend. The first bearish target will be 1.1601, while the second one will be this week's low of 1.1542.
If the asset breaks above the resistance (A) today, the correction will continue to the trend boundary 1.1720–1.1704. Consider short trades near this zone.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1661–1.1650. TakeProfit: 1.1601, 1.1542. StopLoss: 1.1687.
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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