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 has reached the upper Target Zone 3368 – 3345.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has returned to the support (A) 61.01 – 60.71.
- XAUUSD: Gold is trying to break through the Target Zone 3368 – 3345.
- EURUSD: The euro continues to rise to the Target Zone 1.1514 – 1.1473.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term uptrend. Last week, the price tested the support (A) 61.01 – 60.71. The asset pierced this zone but returned to this level by the end of the trading week. As a result, bulls have managed to keep the asset above the 61.01 – 60.71 area.
Thus, consider long trades near this support with the first target at 62.36. The second target will be the May high near 64.01.
USCrude Trading Ideas for Today:
Buy near support (A) 61.01 – 60.71. TakeProfit: 62.36, 64.01. StopLoss: 60.17.
Gold Forecast for Today: XAUUSD Analysis
Gold has reached the upper Target Zone 3368 – 3345 within the short-term uptrend. After that, large traders locked in their high-volume trades near this zone. As a result, the price has declined today. If the asset continues to slide, the quotes may reach the support (A) 3290 – 3283.
Therefore, consider long trades near this zone with the first target of 3324 and the second one near last Friday’s high of 3365.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3290 – 3283. TakeProfit: 3324, 3365. StopLoss: 3269.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term uptrend. The bullish target is the upper Target Zone 1.1514 – 1.1473. Consider long trades on a correction at the support (A) 1.1283 – 1.1269 and support (B) 1.1215 – 1.1194, the trend boundary.
If the price consolidates above the upper Target Zone today, the next bullish target will be the Gold Zone 1.1622 – 1.1609.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1283 – 1.1269. TakeProfit: 1.1344, 1.1419. StopLoss: 1.1244.
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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