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 are still rising.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continues to climb. The price is testing the Gold Zone 2 of 64.40–64.21.
- XAUUSD: Gold has broken above the Gold Zone of 5,486–5,474 and reached the Target Zone of 5,618–5,594.
- EURUSD: The euro declined to the support B of 1.1920–1.1904 but then continued to increase, reaching the first target of 1.1993.
Oil Price Forecast for Today: USCrude Analysis
The oil price is strengthening. The price broke above the Target Zone 2 of 62.72–62.34 and hit the Gold Zone 2 of 64.40–64.21. If the asset pierces this zone today, the next bullish target will be the Target Zone 3 of 66.45–66.08.
If the oil price remains below the Gold Zone 2, a downward correction may begin. During the correction, the asset may test the support A 62.29–62.11. Once it is tested, consider long trades with the first target at 63.13 and the second one at 64.16.
USCrude Trading Ideas for Today:
Buy at support A 62.29–62.11. TakeProfit: 63.14, 64.16. StopLoss: 61.63.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its bullish trend. Yesterday, the price broke above the Target Zone of 5,378–5,354. Today, the asset has pierced the Gold Zone of 5,486–5,474 and tested the Target Zone of 5,618–5,594. If the price breaches this zone, the next bullish target will be in the 5,726–5,714 area.
If bears manage to hold the asset below the Target Zone of 5,618–5,594, a downward correction may start, dragging the price down to the support A 5,475–5,463. Once this zone is tested, consider long trades with the main target at today's high.
XAUUSD Trading Ideas for Today:
Buy at support A 5,475–5,463. TakeProfit: 5,529, 5,595. StopLoss: 5,433.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro price slid in a correction, reaching the support B 1.1920–1.1904. This zone is the key support for the short-term uptrend. Bulls managed to keep the asset above this zone, and the price started to grow, eventually hitting the first bullish target of 1.1993. If the euro consolidates above this level, it may increase to the January 27 high of 1.2082.
If the euro price breaks below the support 1.1920–1.1904, the uptrend will reverse. In this case, consider short trades with a target in the lower Target Zone of 1.1758–1.1725.
EURUSD Trading Ideas for Today:
Hold part of long trades opened at support B 1.1920–1.1904. TakeProfit: 1.2082. StopLoss: at breakeven.
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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