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, oil traded in a correction.
The article covers the following subjects:
Major Takeaways
- USCrude: oil is testing the resistance 60.39 – 58.70.
- XAUUSD: gold is trading in an upward correction after breaking through the Target Zone.
- EURUSD: the euro is trading in an upward correction within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil reached the resistance (A) 58.96-58.70 during a short-term correction. However, the asset failed to consolidate above this zone. Therefore, consider short trades near this resistance today with the main target at yesterday’s low.
If the price pierces the resistance (A) today, the correction will continue to the trend boundary 60.39 – 60.00. Short trades can be considered near this zone.
USCrude Trading Ideas for Today:
Sell near resistance 60.39 – 58.70. TakeProfit: 57.83, 56.10. StopLoss: 60.35.
Gold Forecast for Today: XAUUSD Analysis
Gold continued to trade in a short-term downtrend yesterday and broke through the Target Zone 3274 – 3252. Besides, the price approached the next bearish target near the Gold Zone 3199 – 3192.
Today, an upward correction is unfolding, potentially targeting the resistance (A) 3284 – 3276. Once this zone is tested, consider short trades with the main target at yesterday’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3284 – 3276. TakeProfit: 3242, 3201. StopLoss: 3299.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in an upward correction within a short-term downtrend. If the correction continues today, the asset may climb to the resistance (A) 1.1415 – 1.1401. Once this zone is tested, consider short trades with the first target of 1.1340 and the second one near 1.1265.
If the price breaks through the resistance (A) today, the correction will continue to the trend boundary 1.1490 – 1.1469. Once this zone is tested, one may consider short trades.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1415 – 1.1401. TakeProfit: 1.1340, 1.1265. StopLoss: 1.1442.
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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