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.
Oil is rising within an uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has broken through the Target Zone 63.61 – 62.83.
- XAUUSD: Gold is trading in a correction within the short-term uptrend.
- EURUSD: The euro is trading in a correction towards the support 1.1358 – 1.1345.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil pierced the upper Target Zone 63.61 – 62.83. The next target within the short-term uptrend is the Gold Zone 65.70 – 65.44.
One may consider long trades during a correction at the strong support (A) 61.76 – 61.46 and support (B) 60.26 – 59.81, the trend boundary.
USCrude Trading Ideas for Today:
Buy near support (A) 61.76 – 61.46. TakeProfit: 63.11, 64.76. StopLoss: 60.87.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term uptrend, likely aiming to test the key support 3291 – 3279. Once this zone is tested, consider long trades with the first target near 3341. If the price consolidates above this level, it may climb further to the June high of 3403.
The asset should break through and settle below the 3279 level to create selling opportunities and reverse the trend.
XAUUSD Trading Ideas for Today:
Buy near support (B) 3291 – 3279. TakeProfit: 3341, 3403. StopLoss: 3258.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a correction within the short-term uptrend, likely targeting the support (A) 1.1358 – 1.1345. Once this zone is tested, long trades can be considered with the first target of 1.1420 and the second one near 1.1495.
If the asset pierces the support (A), the correction will continue to the trend boundary 1.1290 – 1.1270. If bulls manage to keep the price above this support level, one may consider long trades near this zone.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1358 – 1.1345. TakeProfit: 1.1420, 1.1495. StopLoss: 1.1318.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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