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 has broken through the short-term uptrend’s key support today.
The article covers the following subjects:
Major Takeaways
- USCrude: Short positions in oil remain relevant. The target is the June low of 63.70.
- XAUUSD: Gold is testing the support (B) 3326 – 3315.
- EURUSD: The euro reverses its short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend. Yesterday, the quotes soared and exceeded last week’s high. However, the price has not yet managed to consolidate above this high. Therefore, short trades with the main target at June’s low can be considered.
If the price continues to climb and hits the resistance (B) 68.25 – 67.83 today, the short-term downtrend may reverse. In this case, consider long trades with a target in the upper Target Zone 72.78 – 71.95, starting from the next trading day.
USCrude Trading Ideas for Today:
Hold up short trades opened at resistance (B) 68.25 – 67.33. TakeProfit: 63.70. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is testing the short-term uptrend’s key support 3326 – 3315. If the price remains above this zone, there will be an opportunity to open long trades with the first target of 3377 and the second one near 3439.
If the asset pierces the support (B) 3326 – 3315 from above, the short-term uptrend will reverse. In this case, consider short trades with the main target in the lower Target Zone 3214 – 3191, starting from the next trading day.
XAUUSD Trading Ideas for Today:
Buy near support (B) 3326 – 3315. TakeProfit: 3377, 3439. StopLoss: 3293.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro has broken through the short-term uptrend’s key support 1.1625 – 1.1605 today. Thus, the short-term uptrend has changed to a downtrend. In this connection, consider short trades with the main target in the lower Target Zone 1.1421 – 1.1381.
Short trades can be opened at the strong resistance (A) 1.1681 – 1.1667 and resistance (B) 1.1756 – 1.1735, the new downtrend’s boundary.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1681 – 1.1667. TakeProfit: 1.1606, 1.1531. StopLoss: 1.1709.
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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