Welcome, my fellow traders! I have prepared a price forecast for US Crude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I have identified entry signals for intraday traders.
The euro continues its short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising, approaching its second buy target around 101.02.
- XAUUSD: Gold has been falling this week.
- EURUSD: The euro is retreating from resistance B at 1.1251–1.1239.
Oil Price Forecast for Today: USCrude Analysis
Oil is rising within a short-term uptrend and is approaching the second buy target around 101.02. If the price settles above this level, the next target will be the Gold Zone of 104.47–104.03. Consequently, consider holding some of your long positions open until the second target is reached.
Alternatively, the price may decline and break through support A at 96.59–96.15. In this case, the asset may pull back to support B at 94.38–93.71.
USCrude Trading Ideas for Today:
Hold part of long trades opened near support A at 96.59–96.15. TakeProfit: 101.02. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to fall and is approaching the Target Zone of 3,978–3,957. After testing this zone, the price may start a correction toward resistance A at 4,099–4,089. Consider opening new short trades from this area, with the first target at 4,043 and the second target around 3,986.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,099–4,089. TakeProfit: 4,043, 3,986. StopLoss: 4,123.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro extends its short-term downtrend. Yesterday, the price fell but failed to reach the first sell target near 1.1182. Today, the asset may continue to decline and test the 1.1182 level. If the euro breaks below this level, the next sell target will be the October 14 low of 1.1113.
If the price settles above resistance B at 1.1251–1.1239, the short-term trend will turn bullish, and the upside target will be the upper Target Zone of 1.1390–1.1365.
EURUSD Trading Ideas for Today:
Hold short trades opened near resistance B at 1.1251–1.1239. TakeProfit: 1.1182, 1.1113. StopLoss: 1.1273.
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.
