
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.
Short-term forecast for oil, gold, and euro-dollar today. Gold is declining in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil is trying to pierce the Gold Zone 64.60 – 64.30.
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XAUUSD: Gold is declining within the short-term downtrend.
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EURUSD: The euro is trading within the upward trend with the Target Zone 1.1786 – 1.1758.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend, aiming to break through the Gold Zone 64.60 – 64.30. If the price consolidates below this area, the next bearish target will be the Target Zone 61.61 – 61.03.
If the price remains above the Gold Zone today, a correction may start. In this case, oil quotes will likely reach the resistance (A) 66.73 – 66.45. Once the price hits the resistance area, short trades can be considered with the main target at the June 24 low.
USCrude Trading Ideas for Today:
Sell near resistance (A) 66.73 – 66.45. TakeProfit: 65.22, 63.70. StopLoss: 67.30.
Gold Forecast for Today: XAUUSD Analysis
Gold is falling within a short-term downtrend, with the main target located within the lower Target Zone 3226 – 3203. Short trades can be opened on corrections from strong resistance levels (A) 3371 – 3364 and (B) 3413 – 3401.
The price should break through the 3413 mark to reverse the downtrend and allow traders to open long positions. However, this scenario is unlikely to occur in the near future.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3371 – 3364. TakeProfit: 3330, 3289. StopLoss: 3386.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro will likely close this trading week on a positive note. The EURUSD pair is trading within a short-term uptrend with the Target Zone 1.1786 – 1.1758. If the price breaks through this zone from below, the next bullish target will be the Gold Zone 1.1908 – 1.1895.
Long positions can be considered on pullbacks. The nearest support level is located in the area of 1.1609 – 1.1595. Therefore, if bulls manage to keep the price above this area, long positions can be opened with the first target at 1.1670 and the second target near the June 26 high at 1.1745.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1609 – 1.1595. TakeProfit: 1.1670, 1.1745. StopLoss: 1.1567.
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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