I welcome my fellow traders! I have made a price forecast for 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 trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil price has stalled near the Target Zone 63.61 – 62.83.
- Gold: Gold is trying to break through the upper Target Zone 3368 – 3345.
- EURUSD: The euro is falling in a correction within the short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a short-term uptrend and testing the upper Target Zone 63.61 – 62.83. If the asset pierces this zone, the price may continue to climb to the Gold Zone 65.70 – 65.44.
If oil fails to break through the Target Zone, a downward correction may start. In this case, the price may test the trend boundary 59.51 – 59.06 again.
Consider holding the trades initiated near the support (B) 59.51 – 59.06 at the breakeven.
USCrude Trading Ideas for Today:
Hold a portion of longs near support (B) 59.51 – 59.06. TakeProfit: 64.01. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term uptrend. The price is trying to break through the upper Target Zone 3368 – 3345. If the asset consolidates above this zone, the next bullish target will be the Gold Zone 3428 – 3420.
If gold remains below the Target Zone, the quotes may decline in a correction towards the support (A) 3316 – 3309 and support (B) 3279 – 3268.
If the price manages to stay above these supports once they are tested, one may consider long trades.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3316 – 3309. TakeProfit: 3350, 3391. StopLoss: 3293.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term uptrend. A downward correction is unfolding. If the price reaches the support (A) 1.1318 – 1.1305 during the correction, consider long trades with the first target of 1.1380 and the second one of 1.1454.
If the asset pierces the support (A), the correction will continue to the support (B) 1.1250 – 1.1230. Once the support (B) is tested, one may consider long trades, as this zone is the trend boundary.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1318 – 1.1305. TakeProfit: 1.1379, 1.1454. StopLoss: 1.1279.
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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