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 continues to decline.
The article covers the following subjects:
Major Takeaways
- USCrude: oil is testing the Target Zone 69.46 – 68.47.
- XAUUSD: gold is trying to rise after hitting the support (A) 2893 – 2887.
- EURUSD: the euro is trading in a downward correction within the uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to fall. Yesterday, the price tested the Target Zone 69.46 – 68.47 within the short-term downtrend but failed to pierce it. Therefore, an upward correction may start from this zone.
If the correction develops, the quotes may climb to the resistance (A) 71.16 – 70.90. Once this zone is reached, one may consider short trades with the first target of 69.71 and the second one near yesterday’s low.
USCrude Trading Ideas for Today:
Sell near resistance (A) 71.16 – 70.90. TakeProfit: 69.71, 68.28. StopLoss: 71.64.
Gold Forecast for Today: XAUUSD Analysis
Gold has returned to the support (A) 2893 – 2887. Consider long trades at this support with the first target of 2921 and the second one near 2956.
If the asset breaks through the support (A) today, the correction will continue to the support (B) 2862 – 2853, the short-term uptrend’s boundary. Consequently, once this zone is reached, long trades can be considered.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2893 – 2887. TakeProfit: 2921, 2956. StopLoss: 2875.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term uptrend. The price is trading in a downward correction. If the correction persists, the quotes may plunge to the support (A) 1.0424 – 1.0413. Once this support is reached, one may consider long trades with the first target of 1.0470 and the second one near 1.0528.
If the price pierces the support (A) today, the correction will continue to the support (B) 1.0372 – 1.0356, the trend boundary. Therefore, consider long trades near this zone.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.0424 – 1.0413. TakeProfit: 1.0470, 1.0528. StopLoss: 1.0395.
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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