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. Oil prices continue to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil remains under bearish pressure.
- XAUUSD: Gold is correcting after reversing to the downside.
- EURUSD: The euro continues to maintain its short-term upward trend with the Target Zone at 1.1772 – 1.1745.
Oil Price Forecast for Today: USCrude Analysis
Oil quotes maintain a short-term downward trend. The price is trading below the Target Zone 67.32 – 66.40, while remaining above the Gold Zone 64.23 – 63.93. At the moment, an upward correction is developing. If the correction continues, the price may reach the resistance zone (A) 66.72 – 66.45. After reaching this zone, short trades can be considered with the main target at the June 24 low.
The trend line is shifting to 68.23 – 67.82. If the price corrects to this area, it will also be possible to consider short positions.
USCrude Trading Ideas for Today:
Sell near resistance (А) 66.72 – 66.45. TakeProfit: 65.12, 63.70. StopLoss: 67.30.
Gold Forecast for Today: XAUUSD Analysis
Gold maintains a short-term downward trend, with an upward correction currently developing. If the price hits the resistance (A) 3377 – 3370 during the correction, short trades can be considered with the main target at the June 24 low.
If gold quotes break through the resistance (A) today, the correction will continue to the resistance (B) 3419 – 3407, offering the trend boundary. Therefore, short positions can also be considered in this area.
XAUUSD Trading Ideas for Today:
Sell near resistance (А) 3377 – 3370. TakeProfit: 3336, 3295. StopLoss: 3393.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term uptrend. Yesterday, the price tested and broke through the Gold Zone 1.1622 – 1.1609. The next bullish target is located in the Target Zone 1.1772 – 1.1745. Long positions can be considered on corrections at strong support levels (A) 1.1581 – 1.1567 and (B) 1.1513 – 1.1492, with today’s high acting as a bullish target.
If the price breaks through and settles below the support (B), the pair may face a trend reversal, allowing traders to open short positions with the main target located within the lower Target Zone 1.1309 – 1.1268.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.1581 – 1.1567. TakeProfit: 1.1643, 1.1717. StopLoss: 1.1541.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of USCRUDE in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
Feed from Litefinance.com