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.
The euro reversed its short-term downtrend today.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has reached all its bullish targets.
- XAUUSD: Gold has pierced the resistance (B) and reversed the downtrend.
- EURUSD: The euro has shifted into an uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continued to trade in an uptrend today. As a result, the asset has reached the second bullish target for trades opened at the support 60.85 – 60.59. This target was the May 13 high. Besides, the price tried to break through the upper Target Zone 63.61 – 62.83.
If oil consolidates above the Target Zone, the quotes may climb to the Gold Zone 65.70 – 65.44. Should the price remain below the Target Zone, a downward correction may start.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reversed its short-term downtrend and pierced the resistance 3244 – 3233. Now, the bullish target is the upper Target Zone 3368 – 3345.
Long trades can be considered on a correction at the strong support (A) 3245 – 3238 and support (B) 3208 – 3196, with the target at today’s high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3245 – 3238. TakeProfit: 3279, 3320. StopLoss: 3224.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro switched to an uptrend and broke through the key resistance 1.1289 – 1.1269 today. Now the bullish target is the upper Target Zone 1.1514 – 1.1473. Thus, consider long trades on pullbacks at the strong support 1.1217 – 1.1203.
If the asset continues to rise and exceeds today’s high, support levels should be shifted.
The price should break through and settle below the 1.1128 level to allow traders to open short trades and reverse the trend.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1217 – 1.1203. TakeProfit: 1.1278, 1.1353. StopLoss: 1.1177.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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