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.
Euro’s short-term uptrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price has reached the Gold Zone 66.54 – 66.24 and is starting to correct.
- XAUUSD: Gold is growing from support (В) 2862 – 2853, hitting the first growth target.
- EURUSD: All the previous targets for euro short-term longs have been reached.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price continued declining and reached the Gold Zone 66.54 – 66.24. The zone held, so expect an ascending correction to develop.
If it does, the price may rise to resistance (A) 69.42 – 69.15 or resistance (В) 70.86 – 70.46. After these areas are reached, consider new shorts, targeting yesterday’s low.
USCrude Trading Ideas for Today:
Sell near resistance (А) 69.42 – 69.15. TakeProfit: 67.97, 66.53. StopLoss: 69.91.
Gold Forecast for Today: XAUUSD Analysis
Gold‘s short-term uptrend continued yesterday, reaching the first buy target near 2904. The next growth target is the all-time high near 2956. If the price settles above this level, the rise may continue up to the upper Target Zone 3008 – 2996.
To sell the pair and reverse the trend, traders have to break below the level of 2853 and consolidate positions below it. In this case, consider short trades with a target in the lower Target Zone 2768 – 2750.
XAUUSD Trading Ideas for Today:
Hold a part of longs near support (В) 2862 – 2853. TakeProfit: 2956. StopLoss: breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Euro‘s short-term uptrend continued yesterday, reaching a second buy target at around 1.0528. The price pushed beyond this level and consolidated above it. Afterward, the Gold Zone 1.0601 – 1.0590 was reached, and the price also steadied above this zone. Thus, the next growth target is the Target Zone 1.0715 – 1.0694.
I recommend considering new longs on a correction from strong support levels — support (А) 1.0533 – 1.0522 and support (В) 1.0481 – 1.0465. The key buy target could be today’s high.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0533 – 1.0522. TakeProfit: 1.0580, 1.0637. StopLoss: 1.0502.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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