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.
Gold continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil declined from the boundary of the short-term downtrend at 83.57–82.99.
- XAUUSD: Gold is moving lower, targeting 3,959.
- EURUSD: The euro opened today with a gap from Friday’s close.
Oil Price Forecast for Today: USCrude Analysis
Oil remains under selling pressure. The price opened today with a gap and fell below last Friday’s low. The primary downside target is now 77.14.
After reaching 77.14, market participants are likely to attempt a breakout below the Gold Zone at 76.63–76.24. If the breakout is successful, the next downside target will be the Target Zone 2 at 72.07–71.26.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term downtrend. Last week, market participants reached the first downside target at 4,044. The next sell target is the July low near 3,959.
If this level is broken to the downside, the price may continue to decline toward the Target Zone at 3,897–3,866.
XAUUSD Trading Ideas for Today:
Hold shorts near resistance B at 4,128–4,113. TakeProfit: 3,959. StopLoss: breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to rise. The price opened today with a gap and broke above last week’s high. The primary upside target is the Upper Target Zone at 1.1601–1.1576.
New long positions are best considered during a correction from strong support levels. The key support levels are support A at 1.1474–1.1466 and support B at 1.1432–1.1420. If Support A is tested, long positions can be considered with the first target at 1.1512 and the second at 1.1558.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1474–1.1466. TakeProfit: 1.1512, 1.1558. StopLoss: 1.1445.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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