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 is sliding in a correction within the uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pierced the support (A) 61.01 – 60.71.
- XAUUSD: Gold is rising again within a short-term uptrend.
- EURUSD: The euro is trading in a downward correction.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a correction within the short-term uptrend. Yesterday, the price broke through the support (A) 61.01 – 60.71 during the correction. Therefore, the asset may decline to the support (B) 59.51 – 59.06 today. Once this zone is tested, consider long trades with the first target of 61.53 and the second one near 64.01.
If the price breaks through and settles above the 61.01 level, long trades can be also considered.
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 is trading in a short-term uptrend. Yesterday, the price reached the upper Target Zone 3368 – 3345. After that, the quotes started to decrease. If the price continues to fall today, it may reach the support (A) 3270 – 3262. Once this zone is tested, one may consider long trades again.
If gold exceeds yesterday’s high today, it may breach and consolidate above the upper Target Zone. In this case, the price will continue growing in a short-term uptrend towards the Gold Zone 3428 – 3420.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3270 – 3262. TakeProfit: 3304, 3345. StopLoss: 3248.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro traded in a correction within the short-term uptrend. Today, the asset has increased during the Asian trading session. If the price continues to climb, it may test the May 21 high. If so, the strong support levels should be shifted.
If the price fails to exceed the May 21 high, it may decline to the support (A) 1.1226 – 1.1213. Once this support is tested, one may consider long trades.
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 USCRUDE in real time mode
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