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.
Gold reversed its short-term uptrend last week.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has pierced the Gold Zone 59.87 – 59.57.
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XAUUSD: gold has reversed its uptrend. A bearish target is today’s low.
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EURUSD: the euro is trading in an upward correction and testing the resistance (B) 1.1051 – 1.1035.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to decline within the short-term downtrend. Today, the price has reached the Gold Zone 59.87 – 59.57. Meanwhile, at the European session, the asset is attempting to break through and consolidate below this zone. If the price settles below the Gold Zone, the next bearish target will be the Target Zone 2, 56.86 – 56.26.
Consider short trades at the strong resistance (A) 61.74 – 61.48 and resistance (B) 63.17 – 62.78. The main target for these potential trades will be today’s low.
USCrude Trading Ideas for Today:
Sell near resistance (A) 61.74 – 61.48. TakeProfit: 60.32, 58.89. StopLoss: 62.27.
Gold Forecast for Today: XAUUSD Analysis
Last week, gold reversed its short-term uptrend and pierced the support (B) 3062 – 3052. Now, a bearish target is the lower Target Zone 2957 – 2936.
Consider short trades at the strong resistance 3048 – 3041 with the first bearish target of 3009. The second target will be today’s low of 2971. If the price breaks through the resistance (A) 3048 – 3041, the correction will continue to the resistance (B) 3086 – 3076.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3048 – 3041. TakeProfit: 3009, 2971. StopLoss: 3062.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro reversed its short-term uptrend and pierced the support 1.0990 – 1.0974. Now, the lower Target Zone 1.0834 – 1.0803 is a bearish target. Currently, the price is trading in a correction and testing the resistance (B) 1.1051 – 1.1035. If the asset remains below this zone, short trades can be considered with the first target of 1.0965 and the second one near 1.0879.
If the asset breaks through the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 1.1222 – 1.1191.
EURUSD Trading Ideas for Today:
Sell near resistance (B) 1.1051 – 1.1035. TakeProfit: 1.0965, 1.0879. StopLoss: 1.1080.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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