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 reached the lower Target Zone within a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil prices are correcting to the downside after reaching the Target Zone 63.61 – 62.83 yesterday.
- XAUUSD: The main short-term selling target has been hit during a decline.
- EURUSD: The euro price is trying to settle below the Target Zone 1.1165 – 1.1124.
Oil Price Forecast for Today: USCrude Analysis
After reaching the Target Zone 63.61 – 62.83 yesterday, oil prices entered a downward correction. If the correction continues today, expect the price to test support (А) 60.56 – 60.30. Once this zone is tested, consider new longs with the first target at 61.73 and the second one near yesterday’s high.
If support (А) is broken to the downside, the bearish correction could reach the trend boundary at 59.25 – 58.86.
USCrude Trading Ideas for Today:
Buy near support (А) 60.56 – 60.30. TakeProfit: 61.73, 63.17. StopLoss: 59.82.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the lower Target Zone 3210 – 3187 within a short-term downtrend and then entered an upward correction. If the correction continues today, expect the price to test resistance (А) 3290 – 3282. Once this zone is tested, new short trades can be considered with the first target of 3249 and the second one near yesterday’s low.
The new trend’s boundary is moving to 3331 – 3320.
XAUUSD Trading Ideas for Today:
Sell near resistance (А) 3290 – 3282. TakeProfit: 3249, 3207. StopLoss: 3305.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro remains in a short-term downtrend. Today, market participants have broken through the Target Zone 1.1165 – 1.1124 and are attempting to hold the price below it. If they succeed, the next selling target will be the Gold Zone 1.1029 – 1.1015.
I recommend considering new shorts during a correction from resistance (А) 1.1214 – 1.1201. If the price pulls back into this area, a short position could be considered, with the first target at 1.1140 and the second near today’s low.
The trend boundary is shifting to the 1.1289 – 1.1269 area.
EURUSD Trading Ideas for Today:
Sell near resistance (А) 1.1214 – 1.1201. TakeProfit: 1.1140, 1.1065. StopLoss: 1.1240.
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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