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.
Short-term forecast for oil, gold, and euro-dollar today. The euro continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is holding support (B) at 58.17-57.75.
- XAUUSD: Gold has tested resistance (B) at 4,163-4,148.
- EURUSD: The pair is still biased to the downside.
Oil Price Forecast for Today: USCrude Analysis
Oil continues trading in a short-term uptrend. Last week, market participants tested the key support of 58.17-57.75. The zone was held by buyers yesterday, so oil prices may rise, with the first target of 60.06. The second target for longs is at 62.36.
If support (B) at 58.17-57.75 is broken to the downside, the trend will reverse downward. In that case, consider selling the asset with a key target in the lower Target Zone 53.97-53.13.
USCrude Trading Ideas for Today:
Hold long positions near support (B) 58.17-57.75. TakeProfit: 60.06, 62.36. StopLoss: 56.60.
Gold Forecast for Today: XAUUSD Analysis
As the correction in gold continues, the price has reached the boundary of the short-term downtrend at 4,163-4,148. Sellers are holding this area, so consider short positions from this zone today, with the first target at 4,080. The second sell target is 3,998.
To reverse the trend to the upside, the market needs to break above resistance (B) at 4,163-4,148. In this case, long positions can be considered with a target in the upper Target Zone 4,328-4,298.
XAUUSD Trading Ideas for Today:
Sell near resistance (B) 4,163-4,148. TakeProfit: 4,080, 3,998. StopLoss: 4,195.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend. The second sell target is 1.1468. If the price holds below this level, the next target will be in Target Zone 2, 1.1354-1.1333.
If an upward correction starts and the price reaches resistance (B) at 1.1647-1.1630, a breakout to the upside may follow. In this case, the short-term trend will turn bullish, and long positions in the euro can be considered with a target in the upper Target Zone 1.1825-1.1792.
EURUSD Trading Ideas for Today:
Hold a part of shorts near resistance (B) at 1.1647-1.1630. TakeProfit: 1.1468. StopLoss: breakeven.
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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