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 extends its short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has failed to pierce the Target Zone of 104.68–103.06.
- XAUUSD: Gold has reached the lower Target Zone of 4,466–4,423.
- EURUSD: The euro has fallen below Monday’s low.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price attempted to break through the upper Target Zone of 104.68–103.06 but failed. Today, the asset is pulling back. If the pullback continues, the price may test the support A of 99.33–98.79. Once this zone is tested, consider long trades, with the first target at 101.75 and the second one around 104.72.
If the crude oil price breaks above the Target Zone today, the next bullish target will be the Gold Zone at 108.99–108.45. In this case, support levels should be adjusted accordingly.
USCrude Trading Ideas for Today:
Buy near support A of 99.33–98.79. TakeProfit: 101.75, 104.72. StopLoss: 97.32.
Gold Forecast for Today: XAUUSD Analysis
Gold continued to decline yesterday, reaching the lower Target Zone of 4,466–4,423. If the metal breaks below this zone, the next bearish target will be the Gold Zone of 4,324–4,310.
If bulls defend the Target Zone, an upward correction may begin, pushing the price up to the resistance A of 4,609–4,595. Consider short trades near this zone, with the first target at 4,531 and the second one around 4,453.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,609–4,595. TakeProfit: 4,531, 4,453. StopLoss: 4,648.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is still trading in a short-term downtrend. The price has dropped below Monday’s low. Thus, market participants are poised to sell the currency, targeting the lower Target Zone of 1.1525–1.1492.
If an upward correction begins at current prices, the euro may reach the resistance A of 1.1696–1.1687 and resistance B of 1.1749–1.1735. Once the price hits the resistance A, one may consider short trades, with the first target at 1.1644 and the second one around 1.1591.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1696–1.1687. TakeProfit: 1.1644, 1.1591. StopLoss: 1.1720.
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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