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 is trading in a downward correction.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is rising after hitting the Target Zone 69.46 – 68.47.
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XAUUSD: gold has reached the support (B) 2862 – 2853.
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EURUSD: the euro is trading in a downward correction within the uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a correction within the short-term downtrend, likely targeting the resistance (A) 71.16 – 70.90. Once this zone is reached, consider short trades with the first target of 69.71 and the second one of 68.28.
If the price breaks through the resistance (A) today, the correction will continue to the resistance (B) 72.60 – 72.21. Once this zone is reached, one may consider short trades within the current trend.
USCrude Trading Ideas for Today:
Sell near resistance (A) 71.16 – 70.90. TakeProfit: 69.71, 68.28. StopLoss: 71.64.
Gold Forecast for Today: XAUUSD Analysis
Gold has reached the short-term uptrend’s key support 2862 – 2853 but failed to pierce it. Consequently, consider long trades near this zone with the first target of 2904 and the second one near 2956.
If the asset breaks through and settles below the support (B) 2862 – 2853 today, the short-term uptrend will reverse. In this case, one may consider short trades with the main target in the lower Target Zone 2768 – 2750.
XAUUSD Trading Ideas for Today:
Buy near support (B) 2862 – 2853. TakeProfit: 2904, 2956. StopLoss: 2835.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a downward correction within the short-term uptrend. If the price reaches the support (B) 1.0372 – 1.0356 within the correction, one may consider long trades with the first target of 1.0442 and the second one near 1.0528.
If the asset pierces the support (B) today, the uptrend will reverse. In this case, consider short trades with the target in the lower Target Zone 1.0216 – 1.0185.
EURUSD Trading Ideas for Today:
Buy near support (B) 1.0372 – 1.0356. TakeProfit: 1.0442, 1.0528. StopLoss: 1.0329.
This forecast is based on the analysis of fundamental factors, including official statements from financial institutions and regulators, various geopolitical and economic developments, and statistical data. Historical market data are also considered.
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Price chart of EURUSD in real time mode
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