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.
Oil prices continue to rise.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is climbing after testing the support A of 91.62–91.08.
- XAUUSD: Gold may continue its rally toward 4,774.
- EURUSD: The euro has bounced off the support B at 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
On Friday, the oil price tested the support A of 91.62–91.08 , but bulls managed to keep the asset above this zone. As a result, the price started to grow. Today, oil has reached its first buy target at 94.07. The next target is at 97.01.
If the price breaks above the Target Zone of 96.66–95.04, the next target will be the Gold Zone of 100.97–100.43.
USCrude Trading Ideas for Today:
Hold long trades opened at support A of 91.62–91.08. TakeProfit: 97.01. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
New margin requirements for CME gold futures took effect today. Therefore, the support zone B can be shifted to 4,678–4,657. The price reached this zone at the opening of trading today and began to rise. The first bullish target is at 4,774, and the second one is at 4,891.
If the gold price breaks below the support B of 4,678–4,657, the trend will turn bearish. In this case, consider short trades, with the target in the lower Target Zone of 4,466–4,423.
XAUUSD Trading Ideas for Today:
Buy near support B at 4,678–4,657. TakeProfit: 4,774, 4,891. StopLoss: 4,613.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro price tested the support B at 1.1687–1.1670. However, bulls managed to defend this zone. The first buy target is at 1.1760, and the second one is at the April high of 1.1849.
An alternative scenario suggests that the price may fall below the support B. In this case, consider short trades, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Hold long trades opened at support B of 1.1687–1.1670. TakeProfit: 1.1760, 1.1849. StopLoss: 1.1629.
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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