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.
Euro’s short-term uptrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the Gold Zone 66.54 – 66.24.
- XAUUSD: Gold is growing from support (В) 2862 – 2853. The second growth target is a level of 2956.
- EURUSD: The euro grew to the Gold Zone 1.0809 – 1.0798.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, market participants attempted to break through the Gold Zone 66.54 – 66.24, but the zone held. Consequently, oil returned to support levels and then started correction. If the correction continues today, expect the price to test resistance (А) 68.20 – 67.91. Once this zone is reached, new short trades can be considered with the first target of 66.60 and the second one near yesterday’s low of 64.99.
To buy the pair and reverse the trend, traders have to break above a level of 69.81 and consolidate positions above it.
USCrude Trading Ideas for Today:
Sell near resistance (А) 68.20 – 67.91. TakeProfit: 66.60, 64.99. StopLoss: 68.77.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term uptrend. The second growth target is a level of 2956. If the price consolidates higher, the trend may be projected to continue, targeting the Target Zone 3008 – 2996.
To reverse the trend and start selling, traders must break below support (B) 2862 – 2853. In this case, consider short trades with a target in the lower Target Zone 2768 – 2750.
XAUUSD Trading Ideas for Today:
Hold a part of longs near support (В) 2862 – 2853. TakeProfit: 2956. StopLoss: breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Euro‘s short-term uptrend continued yesterday. Market participants broke through the Target Zone 1.0715 – 1.0694 and reached the Gold Zone 1.0809 – 1.0798. As the Gold Zone held, expect a correction to develop. If it does, prices may decline to support (A) at 1.0716 – 1.0705 or support (B) at 1.0664 – 1.0648. Upon reaching these support areas, consider opening new long positions with the key target set at today’s high.
If the Gold Zone is broken to the upside, the next growth target will be the Target Zone 1.0923 – 1.0902.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0716 – 1.0705. TakeProfit: 1.0762, 1.0820. StopLoss: 1.0686.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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