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, the oil price corrected to support A of 98.45–97.91.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising and may break above the Target Zone of 104.68–103.06.
- XAUUSD: Gold is correcting higher within the downtrend.
- EURUSD: The euro is trading in a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price declined to the support zone A of 98.45–97.91. Bulls managed to hold this zone. As a result, the price increased and reached all buy targets. However, the price failed to break through the Target Zone of 104.68–103.06 and started to fall.
Today, oil is rising again. If it pierces the Target Zone of 104.68–103.06, the next bullish target will be the Gold Zone of 108.99–108.45.
USCrude Trading Ideas for Today:
Buy near support A of 99.33–98.79. TakeProfit: 101.75, 104.72. StopLoss: 97.32.
Gold Forecast for Today: XAUUSD Analysis
The gold price is undergoing a correction. If the correction continues today, the metal may climb to the resistance A of 4,636–4,622. Consider short trades near this zone, with the first target at 4,558 and the second one at 4,480.
If the price breaks above the resistance A during the trading session, the correction will extend toward resistance B of 4,714–4,692, the boundary of the short-term downtrend.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,636–4,622. TakeProfit: 4,558. 4,480. StopLoss: 4,669.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading within a short-term downtrend. The primary bearish target is the lower Target Zone of 1.1525–1.1492. Consider short trades during pullbacks at the strong resistance A of 1.1714–1.1704 and resistance B of 1.1766–1.1752.
If the EURUSD pair settles above the resistance B, the downtrend will reverse, creating buying opportunities.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1714–1.1704. TakeProfit: 1.1661, 1.1608. StopLoss: 1.1737.
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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