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.
Yesterday, the oil’s short-term downtrend reversed.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has started to trade in a short-term upward trend.
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XAUUSD: gold continues to increase.
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EURUSD: the euro is consolidating above the support level of (В) 1.0798 – 1.0783.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil’s short-term downtrend reversed, breaching the resistance level of (B) 69.81 – 69.37. Now, the main growth target is the upper Target Zone 73.79 – 72.99. Consider new purchases on corrections from strong support (A) 68.61 – 68.32 and support (B) 67.15 – 66.71. The main target will be the weekly high.
USCrude Trading Ideas for Today:
Buy near support (А) 68.61 – 68.32. TakeProfit: 69.93, 71.55. StopLoss: 67.75.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to rise in the short-term uptrend. Yesterday, gold quotes reached the Target Zone 3144 – 3131. Today, bulls will likely try to push the price above this resistance level. If so, the next bullish target will be the Gold Zone 3205 – 3198.
If bears manage to keep the price below the Target Zone, a downward correction will likely begin. In this case, the bearish target will be the support (A) 3078 – 3071. Once the price reaches this support level, consider long trades with the main target at today’s high.
XAUUSD Trading Ideas for Today:
Buy near support (А) 3078 – 3071. TakeProfit: 3110, 3148. StopLoss: 3058.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the EURUSD pair tried to break through the key support level 1.0798 – 1.0783 within the short-term uptrend again. However, bulls prevented the price from falling below this area. Today, long positions formed in this area can be kept open with the first target at 1.0868 and the second target in the area of the March high at 1.0954. If the price reaches above the March high, the next target will be the Gold Zone 1.1017 – 1.1006.
If the support (B) 1.0798 – 1.0783 is broken through today, the euro’s short-term uptrend will reverse. In this case, consider selling the euro with the main target in the area of the lower Target Zone 1.0642 – 1.0611.
EURUSD Trading Ideas for Today:
Hold up purchases opened near support (В) 1.0798 – 1.0783. TakeProfit: 1.0868, 1.0954. StopLoss: 1.0753.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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