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.
The oil price corrected on Friday, rising to resistance 68.20–67.91.
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 price is correcting downward.
Oil Price Forecast for Today: USCrude Analysis
The oil price corrected on Friday, rising to resistance 68.20–67.91. As that area held, the first sell target near 66.60 was hit on the same day. The next sell target is last week’s low near 64.99. Consider moving the shorts opened near resistance (А) to breakeven.
If an ascending correction begins and resistance (A) is broken, the price can be expected to reach resistance (B) 69.81–69.37, the trend’s boundary, from which we can open shorts, too.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (А) 68.20–67.91. TakeProfit: 64.99. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading within a short-term ascending trend. Last week, it hit the first buy target near 2904. The second target is the all-time high near 2956. If the price settles above this level, the rise may continue up to the Target Zone 3008–2996.
Thus, holding longs at breakeven would be smart today. If support (B) 2862–2853 is broken to the downside, the trend will reverse downward. If it does, consider opening short positions 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
The euro price continues trading in a short-term ascending trend. Last week, the Target Zone 1.0809 – 1.0798 was broken, so the next growth target is the Target Zone 1.0923–1.0902. Quotes are currently correcting downward.
If support (A) 1.0785–1.0774 is reached on a correction, consider buying the asset, with the first target of 1.0832 and the second one near 1.0889. If support (А) is broken to the downside, the correction will continue to support (В) 1.0733–1.0717, the trend’s boundary, from which we can open long positions, too.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.0785–1.0774. TakeProfit: 1.0832, 1.0889. StopLoss: 1.0754.
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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