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.
Euro’s short-term uptrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The first sell target near 66.60 has been reached.
- XAUUSD: Gold is growing, with a target in the resistance zone 3065 – 3058.
- EURUSD: All buy targets from support (А) have been reached.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, market participants tested resistance (А) 68.20 – 67.91 within a short-term downtrend, but the zone held. Consequently, oil prices declined and reached the first sell target near 66.60. The second sell target is 64.99.
If resistance (А) is broken to the upside, the correction will continue up to resistance (В) 69.81 – 69.37.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (А) 68.20 – 67.91. TakeProfit: 65.00. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold‘s short-term uptrend continued yesterday, breaking above the Target Zone 3008 – 2996. The next growth target is the Gold Zone 3065 – 3058. If a bearish correction develops, expect gold to reach support (A) at 2980 – 2974. Once this zone is reached, new longs can be considered, with the first target at 3008 and the second one near 3043.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2980 – 2974. TakeProfit: 3008, 3043. StopLoss: 2962.
Euro/Dollar Forecast for Today: EURUSD Analysis
Euro‘s short-term uptrend continued yesterday, hitting all buy targets for longs opened from support (A) 1.0843 – 1.0832. The next growth target is the Gold Zone 1.1017 – 1.1006.
The price is currently correcting downward. If this correction continues, we will expect the pair to fall to a new support zone (А) at 1.0850 – 1.0840. Upon hitting this area, consider opening new long positions with the key target set at yesterday’s high.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.0850 – 1.0840. TakeProfit: 1.0897, 1.0954. StopLoss: 1.0819.
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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