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. The euro rose above its June 12 high yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil attempts to enter a correction to the upside near the golden zone of 64.60 – 64.30.
- XAUUSD: Gold’s short-term trend reversed down.
- EURUSD: All buy targets from support (А) at 1.1495 – 1.1481 were reached yesterday.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil prices attempted to break through the golden zone of 64.60 – 64.30, but that area was held by buyers. Today, the price is rising. If this ascending move continues, expect the price to test resistance (А) 66.73 – 66.45. Once this zone is tested, consider opening shorts again, with the first target at 65.22 and the second one at yesterday’s low of 63.70.
If the golden zone is broken to the downside, the next sell target will be the target zone at 61.61 – 61.01.
USCrude Trading Ideas for Today:
Sell near resistance (А) 66.73 – 66.45. TakeProfit: 65.22, 63.70. StopLoss: 67.30.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold’s short-term trend reversed downward as market participants broke below the key support of 3338 – 3327. The lower target zone, 3226 – 3203, acts as a current sell target. I recommend considering new shorts during a correction from strong resistance levels. The nearest resistance zone is 3377 – 3370. Once it is reached, consider new shorts, targeting yesterday’s low.
The new trend’s boundary has shifted to 3419 – 3407.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro climbed beyond the June 12 high yesterday, which means that all buying targets from support zone (A) at 1.1495–1.1481 were reached within the short-term uptrend. Today, market participants are attempting to break through the golden zone at 1.1622 – 1.1609. If they succeed, the next growth target will be the target zone 1.1786 – 1.1758.
If sellers hold their positions in the golden zone, the price will correct, potentially targeting support (A) 1.1505 – 1.1492 or support (B) 1.1437 – 1.1417. New longs within the trend could be opened near those levels. The main growth target will be yesterday’s high.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1505 – 1.1492. TakeProfit: 1.1566, 1.1641. StopLoss: 1.1466.
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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