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.
The euro reached the short-term uptrend’s key support last week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing resistance (А) at 68.20 – 67.91.
- XAUUSD: Gold is trading within a correction of a short-term uptrend.
- EURUSD: The euro is testing support (B) 1.0798 – 1.0783.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a correction of a short-term downtrend. Today, market participants are testing resistance (А) 68.20 – 67.91. If this area is broken to the upside, the correction will extend up to the trend’s boundary at 69.81 – 69.37.
Once this zone is reached, consider opening new shorts, with the first target at 67.40 and the second one at 65.00.
USCrude Trading Ideas for Today:
Sell near resistance (B) 69.81 – 69.37. TakeProfit: 67.40, 65.00. StopLoss: 70.60.
Gold Forecast for Today: XAUUSD Analysis
Gold remains within a short-term uptrend. Last week, the price corrected downward. If the correction continues this week, expect the price to test support (А) 2990 – 2983. Once this zone is tested, new longs can be considered, with the first target at 3020 and the second one near 3057.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2990 – 2983. TakeProfit: 3020, 3057. StopLoss: 2970.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro reached the short-term uptrend’s key support of 1.0798 – 1.0783 last week. Buyers held the zone, so quotes are rising today. The first upside target is 1.0868, and the second one — last week’s high of 1.0954. If the price settles above last week’s high, the Gold Zone of 1.1017 – 1.1006 could be reached.
If the price breaks through support (B) 1.0798 – 1.0783 and settles below it today, the short-term uptrend will reverse.
EURUSD Trading Ideas for Today:
Hold long positions near support (В) 1.0798 – 1.0783. TakeProfit: 1.0868, 1.0954. StopLoss: 1.0755.
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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