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 continues to maintain a short-term bullish trend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is testing resistance (В) 69.81 – 69.37.
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XAUUSD: gold has reached a new all-time high.
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EURUSD: the euro is trying to continue its short-term upward trend with the first target at 1.0868.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues to trade in a short-term downtrend. Last week, the quotes tested the trend boundary 69.81 – 69.37. However, bears managed to keep the price below this area. Today, it will be possible to consider short positions with the first target at 67.39 and the second target in the area of 65.00.
If the resistance level of (B) 69.81 – 69.37 is broken through, and the price settles above this key level, the short-term trend will change to an uptrend. In this case, it will be possible to consider buying the instrument with the main target in the area of the upper Target Zone 73.79 – 72.99 on the next trading day.
USCrude Trading Ideas for Today:
Hold up sales opened near resistance (В) 69.81 – 69.37. TakeProfit: 67.40, 65.00. StopLoss: 70.60.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade within a short-term uptrend. Last week, the Gold Zone 3065 – 3058 was broken through. The next growth target is the Target Zone 3144 – 3131. If the price consolidates above this area, it may move toward a new target in the 3205 – 3198 area.
If bears keep the price below the Target Zone 3144 – 3131, the downward correction will start. In this case, gold quotes may slide to the support area (A) 3057 – 3050 or the support area (B) 3022 – 3012. After reaching these areas, one can consider opening long trades on the trading instrument.
XAUUSD Trading Ideas for Today:
Buy near support (А) 3057 – 3050. TakeProfit: 3089, 3127. StopLoss: 3037.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro tested the key support level of 1.0798 – 1.0783 within the short-term uptrend. Bulls managed to keep the quotes above this area. In addition, the price rebounded from this area and started to grow. If the growth continues during this trading week, the pair will likely reach the first target in the area of 1.0868. If the price settles above this level, the next bullish target will be 1.0954.
If the support (B) 1.0798 – 1.0783 is broken through, the short-term trend will change to a downtrend. In this case, it will be logical to consider short positions with the main target in the area of the lower Target Zone 1.0642 – 1.0611.
EURUSD Trading Ideas for Today:
Buy near support (В) 1.0798 – 1.0783. TakeProfit: 1.0868, 1.0954. StopLoss: 1.0753.
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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