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 continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is piercing the support (B) 60.18 – 59.73.
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XAUUSD: gold is trading between the resistance (B) and the Target Zone.
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EURUSD: the euro is trying to rebound from the key support 1.1369 – 1.1349.
Oil Price Forecast for Today: USCrude Analysis
Oil is breaking through the support (B) 60.18 – 59.73. If the price settles below this zone, the short-term uptrend will reverse. In this case, consider short trades tomorrow with a target in the lower Target Zone 55.66 – 54.76.
If bulls manage to keep the price above the support (B) today and then a bullish pattern emerges, consider long trades with the first target of 62.21.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term downtrend. The main bearish target is below last week’s low. If the price consolidates below this low, it will likely break through the Target Zone 3274 – 3252. Afterward, the asset may plunge to the Gold Zone 3199 – 3192.
Consider short trades once the key resistance 3383 – 3372 is retested. Wait for a reversal pattern to form before opening short trades.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term uptrend. The price is hovering around the support (B) 1.1369 – 1.1349. Consider holding long trades initiated at this support with the first target of 1.1461. The second bullish target will be last week’s high of 1.1573.
If the asset pierces below the support (B) today, the short-term uptrend will reverse. In this case, consider short trades tomorrow with a target in the lower Target Zone 1.1165 – 1.1124.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (B) 1.1369 – 1.1349. TakeProfit: 1.1461, 1.1573. StopLoss: 1.1308.
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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