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.
Gold tested the support (A) 3290 – 3283 yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the support (A) 61.01 – 60.71 and is likely to pierce it.
- XAUUSD: Gold has managed to stay above the support (A) 3290 – 3283.
- EURUSD: The euro is declining, but the trend remains upward.
Oil Price Forecast for Today: USCrude Analysis
Oil has broken through the support (A) 61.01 – 60.71 and will likely continue to slide to the support (B) 59.51 – 59.06 in a correction within the short-term uptrend. Once this zone is reached, consider long trades with the first target of 61.53 and the second one near 64.01.
If the asset pierces the support (B) today, the short-term uptrend will reverse. In this case, one may consider short trades with the target in the lower Target Zone 55.01 – 54.11.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tested the support (A) 3290 – 3283 within the short-term uptrend. However, the asset failed to break through this zone. Therefore, consider long trades near this support with the first target of 3324 and the second one near 3365.
If the price pierces the support (A) today, the correction will continue to the support (B) 3253 – 3242, the trend boundary. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Hold up long trades opened at support (A) 3290 – 3283. TakeProfit: 3324, 3365. StopLoss: 3269.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to trade in a downward correction. Today, the price is also decreasing and is approaching the support (A) 1.1283 – 1.1269. Once this zone is tested, one may consider long trades with the first target of 1.1344 and the second one near 1.1419.
If the price breaks through the support (A) today, the correction will continue to the trend boundary 1.1215 – 1.1194. Consider long trades near this zone.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1283 – 1.1269. TakeProfit: 1.1344, 1.1419. StopLoss: 1.1244.
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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