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 euro price is trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is falling toward the support A of 65.08–64.87.
- XAUUSD: Gold is trading below the resistance of 5,271–5,249. The trend remains bullish.
- EURUSD: The euro is trying to rise to the resistance A of 1.1860–1.1850 during a correction.
Oil Price Forecast for Today: USCrude Analysis
The oil price is trading in a correction within the short-term uptrend. The asset is approaching the support A of 65.08–64.87. Consider long trades near this zone with the first target at 66.04 and the second one at 67.21. If the US Crude price breaks above the Target Zone of 67.88–67.24 today, the next bullish target will be the Gold Zone of 69.59–69.37.
The trend boundary is shifting to 64.02–63.70.
USCrude Trading Ideas for Today:
Buy near support A of 65.08–64.87. TakeProfit: 66.05, 67.21. StopLoss: 64.33.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term uptrend. The price is rising to the Gold Zone of 5,271–5,249. If the asset pierces this zone, the next bullish target will be the Target Zone 2 of 5,504–5,462.
If bears keep the price below the Gold Zone, a downward correction may start, dragging the asset down to the support A of 5,036–5,015. Once this zone is tested, consider long trades with the first target at 5,132 and the second one at 5,249.
XAUUSD Trading Ideas for Today:
Buy near support A of 5,036–5,015. TakeProfit: 5,132, 5,249. StopLoss: 4,961.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. The price is trying to break through the lower Target Zone of 1.1758–1.1725. If so, the next bearish target will be the Gold Zone of 1.1650–1.1639.
If bulls hold the asset above the Target Zone, an upward correction will begin, pushing the price up to the resistance of 1.1860–1.1850. Once this zone is tested, consider short trades with the first target at 1.1801 and the second one at 1.1742.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1860–1.1850. TakeProfit: 1.1801, 1.1742. StopLoss: 1.1887.
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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