Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Oil prices are trading in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil is trying to continue its short-term upward trend with a target of 62.36.
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XAUUSD: Gold is falling from the resistance (B) 4,051–4,036.
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EURUSD: The euro has broken through the Target Zone 1.1570–1.1536.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a short-term uptrend. The second growth target is 62.36. If this level is broken through, the price will likely reach the Target Zone 64.95–64.13.
If oil pierces the support (A) 59.57–59.29 today, the downward correction will extend to the trend boundary of 58.17–57.75. Once the trend boundary is tested, long positions can be considered.
USCrude Trading Ideas for Today:
Hold a part of long trades opened at support (А) 59.57–59.29. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term downtrend. The second bearish target for selling from the resistance (B) 4,051–4,036 is the support level of 3,886. If the price consolidates below this level, the decline to continue with a target in the Gold Zone 3,831–3,821.
If the resistance (B) is pierced today, the downtrend will reverse. In this case, it will be profitable to consider purchases with a target in the upper Target Zone 4,216–4,186.
XAUUSD Trading Ideas for Today:
Hold a part of short trades opened at resistance (В) 4,051–4,036. TakeProfit: 3,886. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to trade within its short-term downtrend. As a result, the Target Zone 1.1570–1.1536 was broken through. The next sales target is the Gold Zone 1.1454–1.1443.
Short positions can be considered on corrections from strong resistance levels. Today, strong resistance levels are (A) 1.1617–1.1606 and (B) 1.1676–1.1660, with the latter acting as a trend boundary. If the price corrects to these zones, it will be favorable to consider short positions with the main target at the daily low of 1.1498.
EURUSD Trading Ideas for Today:
Sell near resistance (А) 1.1617 – 1.1606. TakeProfit: 1.1557, 1.1498. StopLoss: 1.1643.
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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