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 trading in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has tested the boundary of the short-term uptrend at 59.37–59.09.
- XAUUSD: Gold is trading below the Target Zone 4,670–4,634.
- EURUSD: The euro's short-term trend has turned bearish.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price declined during a correction, reaching the boundary of the short-term uptrend of 59.37–59.09. However, bulls managed to keep the asset within this zone. Therefore, consider long trades near this zone today with the first target at 60.64 and the second one at 62.18.
If the price breaks below 59.09, the uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 56.57–56.01.
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 is trading in a short-term uptrend. This week, the price reached the upper Target Zone 4,670–4,634 but failed to pierce it. As a result, the price fell. If it continues to drop, it may reach 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 breaks below the support A today, the correction will likely extend to the support B 4,462–4,444. This zone is the trend boundary, so it could be a good spot to look for buying opportunities.
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
Yesterday, the euro price broke below the key support of the short-term uptrend of 1.1646–1.1629. As a result, the uptrend has reversed. Now, the lower Target Zone 1.1484–1.1451 is a bearish target.
Consider short trades during a correction at the strong resistance A 1.1711–1.1701 and resistance B 1.1771–1.1755 with the target at the current week's low of 1.1593.
EURUSD Trading Ideas for Today:
Sell near resistance A 1.1711–1.1701. TakeProfit: 1.1652, 1.1593. StopLoss: 1.1736.
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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