I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Short-term forecast for oil, gold, and euro-dollar today. Gold reached the upper Target Zone 3449 – 3426 yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is correcting to the upside, breaking above resistance (В) 59.32 – 58.93.
- XAUUSD: Gold reached the main upside target in the Target Zone 3449 – 3426.
- EURUSD: The euro is correcting upward within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil prices are correcting upward and testing the boundary of the short-term downtrend at 59.32 – 58.93. Yesterday, this resistance area was held by sellers. If today’s U.S. session also closes below this zone, a sell scenario could be considered, with the first target at 57.17 and the second target near 55.04.
If resistance (B) at 59.32 – 58.93 is broken to the upside, the short-term trend will shift to bullish. In that case, long positions could be considered starting from tomorrow, with the main target in the upper Target Zone 63.61 – 62.83.
USCrude Trading Ideas for Today:
Sell near resistance (В) 59.32 – 58.93. TakeProfit: 57.17, 55.05. StopLoss: 60.09.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold prices reached the upper Target Zone 3449 – 3426 within a short-term uptrend. Large buy positions were closed in that target area. Afterwards, the price entered a downward correction and tested support (A) 3360 – 3352. This support was held by buyers, and the price started rising and reached the first bullish target around 3393. If the upward movement continues, the second target could be the high of yesterday’s session.
However, if that high is not surpassed and support (A) is broken, the correction may continue toward the trend boundary at 3322 – 3311. Once this boundary is reached, long positions can also be considered.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
EUR/USD is trading within a short-term downtrend. A bullish correction is currently in progress. As part of the correction, the price may test resistance (A) 1.1415 – 1.1401. Once this zone is tested, new shorts can be considered with the first target at 1.1340 and the second one near 1.1265.
If resistance (A) is broken during the upward correction, the price can be expected to reach resistance (В) 1.1490 – 1.1469. Upon reaching this resistance, consider short positions again.
EURUSD Trading Ideas for Today:
Sell near resistance (А) 1.1415 – 1.1401. TakeProfit: 1.1340, 1.1265. StopLoss: 1.1442.
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Price chart of XAUUSD in real time mode
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