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 price dropped sharply at the opening of today’s trading session.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is settling above the Target Zone 63.31 – 62.54.
- XAUUSD: Gold’s short-term trend reversed downward.
- EURUSD: The euro is testing the key support of a short-term uptrend at 1.1369 – 1.1349.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues to strengthen, having pushed beyond its high of 17 April today. The next upside target is the Gold Zone 65.39 – 65.13.
I recommend considering new long positions during a correction from strong support levels, which are support (А) 61.28 – 60.98 and support (В) 59.78 – 59.33. Today’s high will be the key growth target.
USCrude Trading Ideas for Today:
Buy near support (А) 61.28 – 60.98. TakeProfit: 62.60, 64.22. StopLoss: 60.35.
Gold Forecast for Today: XAUUSD Analysis
At the opening of today’s gold trading session, a short-term trend reversed downward, breaking below the trend’s key support at 3387 – 3376. The lower Target Zone, 3274 – 3252, is the current sell target.
I recommend considering new shorts during a correction from strong resistance levels. The nearest resistance zone is 3397 – 3390. If this area is held by sellers, a short position could be considered, with the first target at 3356 and the second target near today’s low at 3315.
XAUUSD Trading Ideas for Today:
Sell near resistance (А) 3397 – 3390. TakeProfit: 3356, 3315. StopLoss: 3413.
Euro/Dollar Forecast for Today: EURUSD Analysis
At the opening of today’s trading session, the euro price dropped sharply and reached the key support level of the short-term uptrend at 1.1369 – 1.1349. As that area was held by buyers, long positions can be considered today during the day, with the first target at 1.1461 and the second target around 1.1573.
If the price breaks through support (B) 1.1369 – 1.1349 and settles below it, the short-term uptrend will reverse. We will then consider selling the euro with a target in the lower Target Zone 1.1165 – 1.1124.
EURUSD Trading Ideas for Today:
Buy near support (В) 1.1369 – 1.1349. TakeProfit: 1.1461, 1.1573. StopLoss: 1.1309.
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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