I welcome my fellow traders! I have made a price forecast for 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 euro continued to rise today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continued to trade in an uptrend yesterday.
- XAUUSD: Gold is testing the Target Zone 3368 – 3345 from below.
- EURUSD: The euro is trying to break through the upper Target Zone 1.1514 – 1.1473.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil pierced the Gold Zone 65.70 – 65.44 within a short-term uptrend. The next bullish target is the Target Zone 2, 68.54 – 68.02. The price is trading in a downward correction. If the correction continues, the asset may test the support (A) 64.76 – 64.46. Once this zone is reached, consider long trades with the target at today’s high.
The trend boundary is shifting to 63.26 – 62.80.
USCrude Trading Ideas for Today:
Buy near support (A) 64.76 – 64.46. TakeProfit: 66.11, 67.76. StopLoss: 63.92.
Gold Forecast for Today: XAUUSD Analysis
Gold is increasing within a short-term uptrend. The bullish target is the resistance of 3403. If the price consolidates above this level, it may climb to the target in the Gold Zone 3428 – 3420.
If the price remains below the 3403 level, a downward correction may start. If so, the quotes may fall to the key support 3291 – 3279. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy near support (B) 3291 – 3279. TakeProfit: 3341, 3403. StopLoss: 3258.
Euro/Dollar Forecast for Today: EURUSD Analysis
Today, the euro continued to strengthen. As a result, the price has tested the upper boundary of the Target Zone, the 1.1514 level. The resistance level has not been pierced yet, although the trend remains upward.
Therefore, if the asset breaks through the 1.1514 level, the price may continue to grow to the Gold Zone 1.1622 – 1.1609. If not, a downward correction may follow, targeting the support (A) 1.1396 – 1.1383. Consider long trades near this zone.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1396 – 1.1383. TakeProfit: 1.1457, 1.1532. StopLoss: 1.1356.
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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