Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The euro continues to keep its bearish bias.
The article covers the following subjects:
Major Takeaways
-
USCrude: Oil is attempting to rebound, but selling pressure still persists.
-
XAUUSD: Gold is approaching the support A of 4,091–4,080.
-
EURUSD: The euro is declining from the resistance B of 1.1482–1.1468.
Oil Price Forecast for Today: USCrude Analysis
Oil is correcting upward within the short-term downtrend, targeting the resistance level A of 73.23–72.67. Once this resistance is reached, consider short positions with targets of 70.15 and 67.06.
If the resistance A is pierced, the correction will likely continue toward the resistance B of 76.31–75.47. Short positions can also be considered near this key level.
USCrude Trading Ideas for Today:
Sell near resistance A at 73.23–72.67. TakeProfit: 70.15, 67.06. StopLoss: 74.65.
Gold Forecast for Today: XAUUSD Analysis
Gold is correcting downward in the short-term uptrend toward the support A of 4,091–4,080. Once this zone is reached, consider long positions with targets of 4,141 and 4,202. If the support A is broken through today, the price will likely reach the support B of 4,036–4,019. This level acts as a trend boundary, so buying opportunities may also appear near it.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,091–4,080. TakeProfit: 4,141, 4,202. StopLoss: 4,052.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro keeps its bearish bias today. Last week, the price tested the resistance B of 1.1482–1.1468. Sellers defended the zone, and the price began to decline toward the first bearish target of 1.1403. Therefore, short positions can be kept open today until this target is reached. The second target is the June low near 1.1324.
If the euro exceeds the resistance B today, the short-term downtrend will reverse. In that case, consider buying the pair with a target in the upper Target Zone of 1.1641–1.1612.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 1.1482 – 1.1468. TakeProfit: 1.1403, 1.1324. StopLoss: 1.1512.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
Source: Original Article
