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’s short-term downtrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The first sell target from resistance (В) 63.03 – 62.64 has been reached.
- XAUUSD: Gold has hit all sell targets within the short-term downtrend.
- EURUSD: The euro is trading within a short-term downtrend. The first sell target from resistance (В) was reached yesterday.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil prices corrected up to the key resistance area of the short-term downtrend, at 63.03 – 62.64. As sellers held that area, the price declined and reached the first sell target of 60.90. The next sell target is yesterday’s low near 58.75.
If resistance (В) 63.03 – 62.64 is broken to the upside today, the short-term trend will reverse upward. In that case, long positions may be worth considering starting tomorrow.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (В) 63.03 – 62.64. TakeProfit: 58.75. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold‘s short-term downtrend continued yesterday, reaching all sell targets from resistance (А) 3048 – 3041. The lower Target Zone 2957 – 2936 was reached, too. There was heavy selling in that area, and the price then corrected upward. If the correction continues today, expect the price to test resistance (А) 3033 – 3026. Once this zone is tested, new shorts can be considered, with the first target of 2995 and the second one near yesterday’s low.
If resistance (А) is broken to the upside, the correction will continue up to resistance (В) 3072 – 3061, the trend’s boundary from which we can also open shorts.
XAUUSD Trading Ideas for Today:
Sell near resistance (А) 3033 – 3026. TakeProfit: 2995, 2956. StopLoss: 3048.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend. Market participants tested the trend’s key resistance of 1.1051 – 1.1035 yesterday. The zone was held by sellers, so quotes declined and reached the first sell target near 1.0965. The second sell target is 1.0879.
The correction may continue today, with market participants retesting the trend’s key resistance. Short positions will become relevant again once a sell pattern emerges in that area.
For us to buy the asset, the price must break the 1.1051 level and settle above it. We will then have a shift to an uptrend, and the upper Target Zone 1.1222 – 1.1191 will be the main upside target.
EURUSD Trading Ideas for Today:
Hold a part of shorts near resistance (В) 1.1051 – 1.1035. TakeProfit: 1.0879. StopLoss: breakeven.
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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