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 continues to trade in a short-term uptrend today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil breaks through the support (A) 61.01 – 60.71.
- XAUUSD: Gold has reached the upper Target Zone 3368 – 3345.
- EURUSD: The euro is consolidating near 1.1320.
Oil Price Forecast for Today: USCrude Analysis
Oil is falling during a correction within the short-term uptrend. Today, the price has pierced the support (A) 61.01 – 60.71. If the asset slides further to the support (B) 59.51 – 59.06, the short-term trend’s boundary, one may consider long trades near this zone. Besides, traders may consider long positions once the price returns to the support (A).
If the price pierces the support (B), the uptrend will reverse. In this case, consider short trades tomorrow with a target in the lower Target Zone 55.01 – 54.11.
USCrude Trading Ideas for Today:
Buy near support (B) 59.51 – 59.06. TakeProfit: 61.53, 64.01. StopLoss: 58.19.
Gold Forecast for Today: XAUUSD Analysis
Gold has reached the upper Target Zone 3368 – 3345 today within the short-term uptrend. Currently, the price is retreating from the Target Zone as major traders close their long positions. If a downward correction unfolds, the quotes may drop to the support (A) 3270 – 3262. Once this zone is tested, consider long trades with the main target at today’s high.
The trend boundary is shifting to 3232 – 3221.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3270 – 3262. TakeProfit: 3304, 3345. StopLoss: 3248.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term uptrend. The bullish target is the upper Target Zone 1.1514 – 1.1473. The price is consolidating just above the previous key resistance 1.1289 – 1.1269. If a downward correction begins, the quotes may fall to the support (A) 1.1226 – 1.1213. Once this zone is tested, consider long trades with the main target at yesterday’s high.
If the asset exceeds yesterday’s high today, the strong support zones should be shifted.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1226 – 1.1213. TakeProfit: 1.1288, 1.1362. StopLoss: 1.1186.
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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