Short-term Analysis for Oil, Gold, and EURUSD for 12.07.2024

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.

Oil rebounded from the support (A) 81.19 – 80.92 and continues to grow now.

The article covers the following subjects:

Highlights and key points

  • USCrude: After hitting the support (A) 81.19 – 80.92, oil continues to rise. Consider holding long trades with the first target at 82.42 today.

  • XAUUSD: Gold is correcting downward after the recent growth, likely targeting the support (A) 2374 – 2369. After reaching this level, long trades can be considered.

  • EURUSD: The euro is strengthening and approaching the Target Zone. Consider long trades at the 1.0816 – 1.0807 and 1.0774 – 1.0761 zones.

Oil price forecast for today: USCrude analysis

After hitting the support (A) 81.19 – 80.92, oil continues to rise within the short-term uptrend. The first bullish target is 82.42, and the second one may be the July 5 high. If the price consolidates above the July 5 high, the asset will continue to grow to the Gold Zone 84.75 – 84.45.

An alternative scenario suggests the price may break through the support (A) and correct to the support (B) 79.82 – 79.41. If the price reaches the support (B), one may consider long trades. 

USCrude trading ideas for today:

Hold up long trades opened at support (A) 81.19 – 80.92. TakeProfit: 82.42, 83.92. StopLoss: according to the pattern rules.


Gold forecast for today: XAUUSD analysis 

Gold continued its short-term uptrend yesterday. As a result, the price approached the Target Zone 2451 – 2436 and is currently starting a correction. If the quotes reach the support (A) 2374 – 2369 during the correction, one may consider long trades according to the pattern with the main target at yesterday’s high.

If the asset breaks through the support (A), the correction will continue to the support (B) 2349 – 2342, the trend’s boundary. Thus, if the price reaches this level, long trades can be considered.

XAUUSD trading ideas for today:

  1. Buy according to the pattern at support (A) 2374 – 2369. TakeProfit: 2423. StopLoss: according to the pattern rules.

  2. Buy according to the pattern at support (B) 2349 – 2342. TakeProfit: 2423. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The euro continued its short-term uptrend yesterday. The price approached the Target Zone 1.0943 – 1.0918. At the moment, the quotes are trading in a downward correction. If the correction continues today, the price may test the support (A) 1.0816 – 1.0807. After that, one may consider long trades in this area according to the pattern with the main target at yesterday’s high.

If the price breaches the support (A), the correction will continue to the support (B) 1.0774 – 1.0761, the trend’s boundary. Therefore, consider long trades in this zone.

EURUSD trading ideas for today:

  1. Buy according to the pattern at support (A) 1.0816 – 1.0807. TakeProfit: 1.0898. StopLoss: according to the pattern rules.

  2. Buy according to the pattern at support (B) 1.0774 – 1.0761. TakeProfit: 1.0898. StopLoss: according to the pattern rules.


P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance

Price chart of USCRUDE in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Rate this article:

{{value}} ( {{count}} {{title}} )

This post is originally published on LITEFINANCE.

  • Related Posts

    The Best Crypto to Buy: Your Guide to Investing in Cryptocurrency in 2025

    Cryptocurrencies are becoming increasingly popular among investors, including both beginners and major players. As traditional fiat markets wobble under economic pressures, digital assets are becoming a reliable way to diversify…

    How to Read Candlestick Charts?

    Want to learn how to read the market like a pro? Candlestick analysis is the key to understanding trader psychology and predicting price movements in the Forex, stock, or cryptocurrency…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Cyprus Stock Exchange Suspends Three Firms Following CySEC Directive for Reporting Failures

    • July 31, 2025
    Cyprus Stock Exchange Suspends Three Firms Following CySEC Directive for Reporting Failures

    Trump Tariff on India: Will 25% Tax Hurt Exports?

    • July 31, 2025
    Trump Tariff on India: Will 25% Tax Hurt Exports?

    Key Economic Events to Watch in August 2025

    • July 31, 2025
    Key Economic Events to Watch in August 2025

    Paper Silver vs Physical Silver: What Investors Still Get Wrong?

    • July 31, 2025
    Paper Silver vs Physical Silver: What Investors Still Get Wrong?