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 has reversed its short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached the upper Target Zone 63.61 – 62.83.
- XAUUSD: Gold has reversed its short-term uptrend.
- EURUSD: The euro has reached the lower Target Zone 1.1165 – 1.1124.
Oil Price Forecast for Today: USCrude Analysis
Last week, oil reversed its short-term downtrend and pierced the previous trend’s key resistance 59.32 – 58.93. Today, the price continued to rise and reached the upper Target Zone 63.61 – 62.83. If the asset breaks through this zone, the next bullish target will be the Gold Zone 65.70 – 65.44.
If a downward correction starts today, the quotes may slide to the support (A) 59.96 – 59.65. Once this zone is tested, consider long trades with the main target at today’s high.
USCrude Trading Ideas for Today:
Buy near support (A) 59.96 – 59.65. TakeProfit: 61.31, 62.96. StopLoss: 59.10.
Gold Forecast for Today: XAUUSD Analysis
Gold has reversed its short-term uptrend. Today, the price has breached the previous trend’s key support 3322 – 3311. Now, a bearish target is the lower Target Zone 3210 – 3187.
Consider short trades during a correction at the strong resistance (A) 3327 – 3320 and resistance (B) 3369 – 3357 with the main target at today’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3327 – 3320. TakeProfit: 3282, 3238. StopLoss: 3343.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to trade in a short-term downtrend today and reached the lower Target Zone 1.1165 – 1.1124. If the price breaks through this zone, the next bearish target will be the Gold Zone 1.1029 – 1.1015.
Consider short trades during a correction at the strong resistance 1.1282 – 1.1268 with the first target of 1.1206. The second target will be today’s low.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1282 – 1.1268. TakeProfit: 1.1206, 1.1130. StopLoss: 1.1311.
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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