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.
Oil continues trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has hit the Gold Zone and is now showing a limited upward correction.
- XAUUSD: Gold has broken above the Target Zone 4,168 – 4,150 and reached the Gold Zone 4,249 – 4,240.
- EURUSD: The euro has reached resistance (A) 1.1661 – 1.1650.
Oil Price Forecast for Today: USCrude Analysis
Oil continues trading in a short-term downtrend. Market participants are preparing to break through the Gold Zone 57.60 – 57.29. If they succeed, the next selling target will be the Target Zone 54.45 – 53.83.
If buyers hold their positions in the Gold Zone, a bullish correction will start, targeting resistance (A) 60.75 – 60.44. Once this area is reached, consider new shorts with the first target at 59.03.
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
Gold continues to trade in a short-term uptrend. Today, the Gold Zone 4,249 – 4,240 has been reached. If this resistance is broken upward and the price steadies above it, the next growth target will be the Target Zone 4,348 – 4,330.
If sellers hold their positions in the Gold Zone, a downward correction will start. If so, gold may fall to support (A) 4,152 – 4,143. Once this area is reached, consider new longs with the first target at 4,192.
XAUUSD Trading Ideas for Today:
Buy near support (A) 4,152 – 4,143. TakeProfit: 4,192, 4,242. StopLoss: 4,118.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. Today, the upward correction has continued, and resistance (A) 1.1661 – 1.1650 has been reached. Short positions can be considered near this resistance. The first sell target is the 1.1601 level. The second target is the current week's low.
If resistance (A) is broken to the upside, the correction will continue up to resistance (B) 1.1720 – 1.1704 — the trend's boundary. Therefore, once this zone is reached, selling opportunities can also be considered.
EURUSD Trading Ideas for Today:
Hold short positions near resistance (A) 1.1661 – 1.1650. TakeProfit: 1.1601, 1.1542. StopLoss: 1.1688.
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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