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 buyers attempt to extend the short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil attempts to settle below the golden zone 66.54 – 66.24.
- XAUUSD: Gold is growing from support (В) 2862 – 2853. The second growth target is a level of 2956.
- EURUSD: Euro buyers attempt to break through the golden zone 1.0809 – 1.0798.
Oil Price Forecast for Today: USCrude Analysis
Oil remains within a short-term downtrend, attempting to settle below the golden zone 66.54 – 66.24. If it does, the next selling target will be the target zone 63.62 – 63.04.
To open new shorts, wait for a correction to strong resistance levels and a sell pattern. Once a sell pattern forms, consider opening shorts, targeting a level of 66.60 and then 64.99.
USCrude Trading Ideas for Today:
Sell near resistance (А) 68.20 – 67.91. TakeProfit: 66.60, 64.99. StopLoss: 68.77.
Gold Forecast for Today: XAUUSD Analysis
Gold buyers attempt to extend the short-term uptrend, targeting a level of 2956. So, holding longs at breakeven would be smart. If the price settles above the level of 2956, the next growth target will be the target zone 3008 – 2996.
If a correction develops, expect another test of the short-term uptrend’s key support at 2862 – 2853. Once this zone is reached, consider opening long positions again.
XAUUSD Trading Ideas for Today:
Hold a part of longs near support (В) 2862 – 2853. TakeProfit: 2956. StopLoss: breakeven
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro remains within a short-term uptrend, with market participants currently attempting to break through the golden zone 1.0809 – 1.0798. If the price consolidates above this area, the next growth target will be the target zone 1.0923 – 1.0902.
New longs can be opened on a correction from strong support levels—support (A) 1.0749 – 1.0739 and support (B) 1.0697 – 1.0682. Yesterday’s high with be the key growth target for longs opened in those areas.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0749 – 1.0739. TakeProfit: 1.0796, 1.0853. StopLoss: 1.0720.
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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