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.
Short-term forecast for oil, gold, and euro-dollar today. Gold reached the short-term uptrend’s key support last week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil attempts to correct upward.
- XAUUSD: Gold tries to continue growth from support (В) 2862 – 2853.
- EURUSD: The euro price grows from the key support 1.0372 – 1.0356.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading within a short-term downtrend. Last week, market participants tested the target zone 69.46 – 68.47. As this zone held, an upward correction began.
If the correction continues today, expect the price to test resistance (А) 71.16 – 70.90. Once this zone is tested, consider new shorts with the first target of 69.71 and the second one near 68.28.
USCrude Trading Ideas for Today:
Sell near resistance (A) 71.16 – 70.90. TakeProfit: 69.71, 68.28. StopLoss: 71.64.
Gold Forecast for Today: XAUUSD Analysis
Gold reached the short-term uptrend’s key support of 2862 – 2853 last week. Buyers held the zone, so consider long positions today, with the first target at 2904. If the price settles above this level, the all-time high of 2956 will be the next growth target.
If support (B) 2862 – 2853 is broken to the downside, the short-term trend will reverse downward. In this case, consider short trades with a target in the lower target zone 2768 – 2750.
XAUUSD Trading Ideas for Today:
Buy near support (В) 2862 – 2853. TakeProfit: 2904, 2956. StopLoss: 2835.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, market participants reached the short-term uptrend’s key support of 1.0372 – 1.0356. The zone held, so today, hold longs with the first target at 1.0442. If the price consolidates higher, it may continue rising with a target of 1.0528. Short positions from support (В) 1.0372 – 1.0356 should be moved to a breakeven level.
To sell the pair and reverse euro‘s trend, traders must break below the level of 1.0297 and settle below it. In that case, the short-term trend will reverse downward, and the lower target zone 1.0216 – 1.0185 will be a target for shorts.
EURUSD Trading Ideas for Today:
Hold long positions near support (В) 1.0372 – 1.0356. TakeProfit: 1.0442, 1.0528. StopLoss: breakeven.
This forecast is based on the analysis of fundamental factors, including official statements from financial institutions and regulators, various geopolitical and economic developments, and statistical data. Historical market data are also considered.
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Price chart of XAUUSD in real time mode
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