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 decline within the short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil pierced resistance B of 76.31–75.47, and the trend turned bullish.
- XAUUSD: Gold has switched to a short-term downtrend.
- EURUSD: The euro may continue falling toward the 1.1324 level.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price broke above the key resistance level of the short-term downtrend at 76.31–75.47. As a result, the trend has become bullish. Thus, consider long trades, with a target in the upper Target Zone of 85.56–83.88.
Long trades can be considered during pullbacks at strong support levels. The nearest support is at 76.30–75.92.
USCrude Trading Ideas for Today:
Buy near support A of 76.30–75.92. TakeProfit: 78.00, 80.10. StopLoss: 74.97.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the short-term uptrend reversed. The gold price broke below the support B of 4,036–4,019. Now, the main bearish target is the lower Target Zone of 3,897–3,866.
Consider short trades during pullbacks at resistance A of 4,096–4,086, with the first target at 4,040 and the second one at today’s low.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 4,096–4,086. TakeProfit: 4,040, 3,983. StopLoss: 4,120.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to decline within the short-term downtrend. Last week, the price reached the first bearish target of 1.1403. The next target is the June low of 1.1324. If the asset drops below this mark, it may breach the Target Zone 2 of 1.1322–1.1303. In this case, the next target will be near the Gold Zone 2 of 1.1238–1.1229.
A breakout above resistance B of 1.1482–1.1468 will invalidate the bearish scenario. In this case, consider long trades, with a target in the upper Target Zone of 1.1601–1.1576.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B of 1.1482–1.1468. TakeProfit: 1.1324. StopLoss: at breakeven.
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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Source: Original Article
