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.
This week, the euro is trading within an upward correction.
The article covers the following subjects:
Major Takeaways
USCrude: Oil is trading above the support B 58.17–57.75.
XAUUSD: Gold is testing the resistance B 4,163–4,148.
EURUSD: The euro is trading within an upward correction.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading above the key support 58.17–57.75 within the short-term uptrend. Therefore, long positions can be considered near this zone with the first target at 60.06. If the price breaks through this level, the next bullish target will be 62.36.
However, if oil pierces the 57.75 level, the short-term uptrend may reverse, allowing traders to open short trades with the target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Buy near support B 58.17–57.75. TakeProfit: 60.06, 62.36. StopLoss: 56.95.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a correction within the short-term downtrend. The price has tested the resistance B 4,163–4,148, offering a trend boundary. Therefore, short trades can be considered near this area with the targets at 4,080 and 3,998.
If gold quotes break through the resistance B today, the downtrend will likely reverse. In this case, starting from the next trading day, long trades can be considered with the target in the upper Target Zone 4,328–4,298.
XAUUSD Trading Ideas for Today:
Hold short trades opened at resistance B 4,163–4,148. TakeProfit: 4,080, 3,998. StopLoss: 4,195.
Euro/Dollar Forecast for Today: EURUSD Analysis
This week, the euro is correcting upwards in the short-term downward trend. Therefore, short trades opened at the resistance B 1.1647–1.1630 can be maintained and moved to a breakeven point. The main target is 1.1468.
An alternative scenario suggests that the price may break through the resistance B. In this case, the short-term downtrend will reverse. If so, long positions can be considered with the target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B 1.1647–1.1630. TakeProfit: 1.1468. StopLoss: at the 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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