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 climbed to the boundary of the short-term downtrend during a correction.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continues to fall within a short-term downtrend.
- XAUUSD: Gold is testing the support (B) 4,244–4,230.
- EURUSD: The euro is declining after hitting the resistance (B) 1.1720–1.1704.
Oil Price Forecast for Today: USCrude Analysis
Oil is decreasing within a short-term downtrend. If the price breaks below last week's low, the next bearish target will be the Target Zone 54.45–53.83.
However, if an upward correction begins today, the asset may climb to the resistance (A) 59.57–59.25. Once this zone is reached, consider short trades with the first target at 57.85 and the second one at last week's low.
USCrude Trading Ideas for Today:
Sell near resistance (A) 59.57–59.25. TakeProfit: 57.85, 56.13. StopLoss: 60.36.
Gold Forecast for Today: XAUUSD Analysis
On Friday, gold started to drop in a correction and tested the short-term uptrend's key support 4,244–4,230. Bulls managed to hold the price above this zone. Therefore, consider long trades near this zone today with the first target at 4,304 and the second one at last week's high of 4,379.
If the asset breaks below the support (B) today, the short-term uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone 4,109–4,082.
XAUUSD Trading Ideas for Today:
Buy near support (B) 4,244–4,230. TakeProfit: 4,304, 4,379. StopLoss: 4,185.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro tested the short-term downtrend's boundary 1.1720–1.1704 during a correction. However, the price failed to break through this zone and started to decline on Friday. Therefore, one can hold their trades open or initiate new short trades near this zone with the first target at 1.1631 and the second one at last week's low of 1.1542.
The price should pierce the key resistance of 1.1720–1.1704 to create buying opportunities and reverse the trend. In this case, consider long trades with the main target in the upper Target Zone 1.1898–1.1866, starting from the next trading day.
EURUSD Trading Ideas for Today:
Hold up short trades opened at resistance (B) 1.1720–1.1704. TakeProfit: 1.1631, 1.1542. StopLoss: 1.1752.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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