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.
The WTI crude oil price remains bearish.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price dropped to 62.60 after reaching the resistance B of 64.37–64.05.
- XAUUSD: Gold has reached its first bullish target for the trades opened at the support B of 4,772–4,740.
- EURUSD:The euro price is rising in a correction, potentially targeting the resistance A of 1.1884–1.1873.
Oil Price Forecast for Today: USCrude Analysis
On Friday, the oil price once again tested the resistance B of 64.37–64.05 and plunged to the first bearish target of 62.60. The second target is 60.85. Therefore, today you can hold some of the short trades opened near the resistance B at the breakeven level.
If oil prices start to climb today and break above the resistance B, the trend will turn bullish. In this case, consider long trades with a target in the upper Target Zone of 67.88–67.24 on the next trading day.
USCrude Trading Ideas for Today:
Hold part of the short trades opened at the resistance B of 64.37–64.05. TakeProfit: 60.85. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
On Friday, gold prices continued to grow and hit the first bullish target of 4,915 for the trades opened at the support B of 4,772–4,740.
Today, gold has increased to the Target Zone of 5,101–5,037. If the price pierces this zone, the next bullish target will be the Gold Zone of 5,271–5,249. Once the asset touches the resistance of 5,090, consider closing the remaining long trades opened at the support B.
The price should break below the support B to reverse the uptrend and create selling opportunities.
XAUUSD Trading Ideas for Today:
Hold part of the long trades opened at support B of 4,772–4,740. TakeProfit: 5,090. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
On Monday, the euro climbed in a correction. If the price reaches the resistance A of 1.1884–1.1873, consider short trades with the first target at 1.1825 and the second one at 1.1765.
If the euro/dollar price consolidates above the resistance A, the correction will extend to the resistance B of 1.1943–1.1927. This zone is the trend boundary. Thus, consider short trades near it with the main target at 1.1765.
EURUSD Trading Ideas for Today:
Sell at resistance A of 1.1884–1.1873. TakeProfit: 1.1824, 1.1765. StopLoss: 1.1909.
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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