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 oil market opened with a gap down today.
The article covers the following subjects:
Major Takeaways
- USCrude: The short-term trend for oil has reversed to the downside.
- XAUUSD: Gold continues to decline. The Target Zone 2, 4,678–4,641, has been reached.
- EURUSD: The euro’s short-term trend has turned bearish.
Oil Price Forecast for Today: USCrude Analysis
Last Friday, market participants tested support A 64.10–63.89 and reached the first buying target near 65.06. Then oil prices stopped rising, and the market opened with a gap down today. As a result, the price is now breaking support B 63.04–62.72, shifting the trend to the downside.
If today’s session closes below support B, oil selling may be considered tomorrow, with a target in the lower Target Zone 59.84–59.20. If the price returns to support B, buying opportunities may remain valid, with the main target at 66.23.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term downtrend. Last Friday, gold prices broke below the Gold Zone 4,852–4,834. Today, market participants reached the Target Zone 2 at 4,678–4,641. If the Target Zone 2 is broken to the downside, the next selling target will be the Gold Zone 2 at 4,491–4,472.
New selling opportunities should be considered on pullbacks to key resistance levels — resistance A 4,790–4,771 and resistance B 4,893–4,865. The main selling target will be today’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance A 4,790–4,771. TakeProfit: 4,687, 4,584. StopLoss: 4,835.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro’s short-term trend turned bearish last Friday. The key support at 1.1920–1.1904 was broken. The current selling target is the lower Target Zone 1.1758–1.1725. Therefore, selling opportunities should be considered today from strong resistance levels — resistance A 1.1958–1.1947 and resistance B 1.2018–1.2001. The main target for these potential short positions is today’s low 1.1839. If today’s low is broken, the resistance levels will need to be adjusted.
EURUSD Trading Ideas for Today:
Sell near resistance A 1.1958–1.1947. TakeProfit: 1.1899, 1.1839. StopLoss: 1.1983.
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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