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 continued to rise yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price reached its first bullish target yesterday. The rally may continue today.
- XAUUSD: Yesterday, gold reached the second bearish target for the trades opened at the resistance A of 4,666–4,651.
- EURUSD: The euro is testing the support B of 1.1687–1.1670 for the third time.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil prices continued to climb, reaching the first bullish target of 102.89. However, the price later decreased and ended the session around breakeven. Despite this pullback, the overall trend remains bullish. Today, the price will likely try to break through the 102.89 level. If so, the rally may continue toward 107.32.
If the oil price begins to fall and breaches the support B, the short-term trend will turn bearish. In that case, consider short trades, with the target in the lower Target Zone of 91.15–89.53.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold extended its short-term downtrend yesterday, reaching the second bearish target of 4,510. The next target is the Target Zone of 4,466–4,423.
Consider short trades on pullbacks at the resistance A of 4,656–4,642, with the first target at 4,578 and the second one at 4,500.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,656–4,642. TakeProfit: 4,578, 4,500. StopLoss: 4,692.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price has once again retreated to the support B of 1.1687–1.1670. This zone marks the boundary of the short-term trend. Consequently, if a bullish pattern forms again near the support B, long trades can be considered. The first bullish target will be the 1.1760 level, and the second target will be 1.1849.
If the euro breaks below the 1.1670 level, the trend may turn bearish. In this case, consider short trades on the next trading day, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Watch the market.
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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