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’s short-term downtrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil reached the Target Zone 2 at 56.86 – 56.26.
- XAUUSD: Gold is correcting upward, with a target in the resistance area (А) 3033 – 3026.
- EURUSD: The euro is testing resistance (В) 1.1070 – 1.1053 in a correction of a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil‘s short-term downtrend continued yesterday, hitting all sell targets from resistance (В) 63.03 – 62.64. The price also broke below the Gold Zone 59.87 – 59.57 and reached the Target Zone 56.86 – 56.26. If this target zone is also broken to the downside, the next sell target will be at 53.86 – 53.56.
The target zone is currently held by buyers. If an ascending correction starts from the current levels, expect the price to reach resistance (А) 59.24 – 58.98. Once this resistance area is reached, short positions can be considered again, with the main target at today’s low.
USCrude Trading Ideas for Today:
Sell near resistance (А) 59.24 – 58.98. TakeProfit: 57.80, 56.38. StopLoss: 59.75.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction of a short-term downtrend. Yesterday, market participants attempted to test resistance zone (A) at 3033 – 3026. Today, attempts to reach resistance (A) will likely continue. Once this zone is reached, short positions can be considered again, with the first target at 2995 and the second one near 2956.
If resistance (А) is broken to the upside, the correction will continue up to resistance (В) 3072 – 3061. After this area is tested, selling opportunities may also be considered. Resistance (B) is the short-term downtrend’s boundary.
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 is correcting within a short-term downtrend. Today, market participants are testing the trend’s boundary at 1.1070 – 1.1053. This zone has been adjusted in accordance with the updated margin requirements of the CME Group. If the key resistance area is held by sellers, it may present an opportunity to consider a short position, with the first target at 1.0975 and the second one at 1.0879.
If the price consolidates above the resistance level at 1.1070, the short-term trend will shift to bullish. In that case, starting from the next trading day, long positions may be considered, with the main target in the upper Target Zone at 1.1262 – 1.1227.
EURUSD Trading Ideas for Today:
Sell near resistance (B) 1.1070 – 1.1053. TakeProfit: 1.0975, 1.0879. StopLoss: 1.1107.
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Price chart of USCRUDE in real time mode
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