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 is trading in a correction within the short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has pierced the resistance (A) 68.20 – 67.91 and is rising to the resistance (B) 69.81 – 69.37.
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XAUUSD: gold is trading in a correction within the short-term uptrend.
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EURUSD: the euro is testing the support (B) 1.0798 – 1.0783.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil broke through the resistance (A) 68.20 – 67.91. Today, the correction continues, likely targeting the resistance (B) 69.81 – 69.37, the short-term downtrend’s boundary. Therefore, once this zone is reached, consider short trades with the first target of 67.40 and the second one near 65.00.
If the price breaches the resistance (B) today and closes higher in the US trading session, the short-term downtrend will reverse. In this case, one may consider long trades tomorrow with the target in the upper Target Zone 73.79 – 72.99.
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 is trading in a correction within the short-term uptrend, likely targeting the support (A) 2990 – 2983. Once this support is reached, consider long trades with the first target of 3020 and the second one near 3057.
If the asset pierces the support (A) today, the correction will continue to the support (B) 2956 – 2946.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2990 – 2983. TakeProfit: 3020, 3057. StopLoss: 2970.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has plunged to the support (B) 1.0798 – 1.0783, the short-term uptrend’s boundary, within a correction. Therefore, consider long trades near this zone with the first target of 1.0868 and the second one near 1.0954.
If the price breaks through the support (B) today and closes lower in the US trading session, the short-term uptrend will reverse. In this case, consider short trades tomorrow with the main target in the lower Target Zone 1.0642 – 1.0611.
EURUSD Trading Ideas for Today:
Hold up long trades opened near support (B) 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 XAUUSD in real time mode
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