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.
Last week, the euro began trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the support 59.37–59.09. Thus, the uptrend may reverse.
- XAUUSD: Gold is trying to break through the Target Zone 4,670–4,634.
- EURUSD: The euro is rising in a correction, potentially targeting the resistance at 1.1696–1.1685.
Oil Price Forecast for Today: USCrude Analysis
Oil is declining in a correction within a short-term uptrend. Last week, the price reached the support 59.37–59.09, but bulls managed to keep it above this zone. Therefore, consider long trades today with the first target at 60.64 and the second target at 62.18, once the price exceeds 59.37.
If the asset breaks below the support 59.37–59.09, 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:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold has opened with a gap today and surpassed last week's high. The price started to grow from the EMA 190, which is the support level. Since the asset has hit a new high, it may break through the Target Zone 4,670–4,634. If so, the next target will be the Gold Zone 4,766–4,754.
If the gold price fails to pierce the Target Zone, a correction may start, pushing the price down to the support A 4,570–4,558. Once this zone is reached, consider long trades with the first target at 4,624 and the second one at 4,690.
XAUUSD Trading Ideas for Today:
Buy near support A 4,570–4,558. TakeProfit: 4,624, 4,690. StopLoss: 4,527.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro changed its short-term trend to a downtrend and broke below the support B 1.1646–1.1629. Now, the bearish target is the lower Target Zone 1.1484–1.1451.
Short trades can be considered during a correction at the resistance A 1.1696–1.1685 and resistance B 1.1755–1.1739, with the target at last week's low.
If the euro/dollar price begins to climb and breaks above the resistance B, the short-term downtrend will reverse.
EURUSD Trading Ideas for Today:
Sell near resistance A 1.1696–1.1685. TakeProfit: 1.1636, 1.1577. StopLoss: 1.1723.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best "thank you" :)
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
