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 climb in a correction yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has broken above the resistance A 63.19–62.98 during a correction and may reach the resistance B 64.37–64.05.
- XAUUSD: Gold has reached the upper Target Zone 5,101–5,037.
- EURUSD: The euro continues to rise in a correction.
Oil Price Forecast for Today: USCrude Analysis
The oil price extended its upward correction yesterday, piercing the resistance A 63.19–62.98. The asset may advance to the resistance B 64.37–64.05, the boundary of the short-term downtrend. Once this zone is tested, consider short trades with the first target at 62.60 and the second one at 60.85.
If the price of oil returns below the resistance A, one may also consider short trades with the main target at 60.85. If the price settles above the resistance B, the short-term trend will turn bullish.
USCrude Trading Ideas for Today:
Sell at resistance B 64.37–64.05. TakeProfit: 62.60, 60.85. StopLoss: 64.87.
Gold Forecast for Today: XAUUSD Analysis
Gold prices continued to climb, reaching the Target Zone 5,101–5,037. If the asset consolidates above this level, the next bullish target will be the Gold Zone 5,271–5,249. If bears hold the metal below the Target Zone, a downward correction may begin.
If the correction unfolds, the gold price may fall to the support A 4,878–4,857. Once this zone is tested, consider long trades with the first target at 4,974 and the second one at 5,090. If the price settles below the support A, the correction may extend to the support B 4,772–4,740, the trend boundary. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy at support A 4,878–4,857. TakeProfit: 4,974, 5,090. StopLoss: 4,803.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is rising in a correction within the short-term downtrend. If the correction persists, the asset may test the resistance A 1.1894–1.1884. Consider short trades near this zone with the first target at 1.1835 and the second one at 1.1776. If the price consolidates above the resistance A, the correction may continue to the resistance B 1.1954–1.1938, the boundary of the short-term trend.
The main bearish target is the lower Target Zone 1.1758–1.1725. If the price falls further, the next target will be the Gold Zone 1.1650–1.1639.
EURUSD Trading Ideas for Today:
Sell at resistance A 1.1894–1.1884. TakeProfit: 1.1835, 1.1776. StopLoss: 1.1921.
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Price chart of USCRUDE in real time mode
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