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 is rising after hitting the key support.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil may exceed its August high of 87.36.
- XAUUSD: Gold is dropping from the 4,452–4,447 zone.
- EURUSD: Bulls are trying to drive the euro higher today.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues to rise after reaching the key support of 81.30–80.70 within the short-term uptrend. The next bullish target is the August high of 87.36. If the price breaks above this level, it may climb to the Gold Zone of 90.05–89.64.
If the asset fails to surpass the August high, a downward correction will begin, and the oil price may retest support B.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support B of 81.30–80.70. TakeProfit: 87.36. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold remains in a short-term downtrend. Yesterday, the price tested the additional zone of 4,452–4,447. Bears held this zone. Consequently, consider short positions or holding the existing ones today, targeting the 4,396 level.
Once the price hits the 4,396 level, it may try to penetrate the lower Target Zone of 4,388–4,358. If this happens, the next bearish target will be the Gold Zone of 4,286–4,276.
XAUUSD Trading Ideas for Today:
Sell near 4,452–4,447. TakeProfit: 4,396. StopLoss: 4,463.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is climbing from the key support of 1.1585–1.1572 within the short-term uptrend. The first bullish target is 1.1642, and the second one is the August high of 1.1711. Therefore, consider opening new long trades or holding existing ones today, with a stop-loss order set at 1.1549.
If the euro price breaks below support B of 1.1585–1.1572, the short-term trend will turn bearish. In this case, consider short trades on the next trading day, targeting the lower Target Zone of 1.1459–1.1434.
EURUSD Trading Ideas for Today:
Buy near support B of 1.1585–1.1572. TakeProfit: 1.1642, 1.1711. StopLoss: 1.1549.
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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