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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.
Oil continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil falls below the swing lows.
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XAUUSD: gold is testing the upper Target Zone 2773 – 2756.
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EURUSD: the euro is trading in a correction within the short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term downtrend. Yesterday, the price slumped below the January 27 low. The next bearish target is the lower Target Zone 69.46 – 68.47. Consider short trades on a correction.
If the correction unfolds, the quotes may climb to the resistance (A) 75.66 – 75.33. Once this zone is reached, one may consider short trades with the first target of 73.84 and the second one near yesterday’s low of 72.03.
USCrude Trading Ideas for Today:
Sell near resistance (A) 75.66 – 75.33. TakeProfit: 73.84, 72.03. StopLoss: 76.29.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to test the upper Target Zone 2773 – 2756 within the short-term uptrend. If the price breaks through the Target Zone, the next bullish target will be the Gold Zone 2819 – 2813. If not, a downward correction may start.
If the correction emerges, the price may fall to the support (A) 2728 – 2722. Once this zone is reached, one may consider long trades with the first target of 2754 and the second one near 2785.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2728 – 2722. TakeProfit: 2754, 2785. StopLoss: 2711.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a correction within the short-term uptrend. Yesterday, the asset hit the key support 1.0257 – 1.0229 but failed to pierce it. Therefore, consider long trades near this zone today with the first target of 1.0457 and the second one near 1.0533.
If the price pierces the support (B) 1.0257 – 1.0229 today, the short-term uptrend will reverse. In this case, one may consider short trades with the target in the lower Target Zone 1.0257 – 1.0229, starting from tomorrow.
EURUSD Trading Ideas for Today:
Buy near support (B) 1.0257 – 1.0229. TakeProfit: 1.0457, 1.0533. StopLoss: 1.0354.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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