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 began to rise after reaching its first bearish target near 1.1403.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil has reached the first bearish target near 71.69.
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XAUUSD: Gold is rising from the support B of 4,036–4,019.
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EURUSD: The euro is approaching the resistance B of 1.1482–1.1468.
Oil Price Forecast for Today: USCrude Analysis
Oil is falling in a short-term downtrend. Yesterday, the price hit the first sell target of 71.69, declining from the key resistance of 76.31–75.47. If the target level is broken through, the next target will be 67.06.
If the price settles above the resistance B of 76.31–75.47, a trend reversal may occur, allowing traders to open long positions with a target in the upper Target Zone of 85.56–83.88.
USCrude Trading Ideas for Today:
Hold short trades opened at resistance B 76.31–75.47. TakeProfit: 67.06. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continued to rise yesterday. As a result, the price pierced the first buy target of 4,111. As a result, the price may continue to increase and reach the second target near 4,202.
If gold slides below 4,111, long positions should be closed. In this scenario, there is a risk of another price decline and a retest of the key support area of 4,036–4,019.
XAUUSD Trading Ideas for Today:
Hold long trades opened at suppor B 4,036–4,019. TakeProfit: 4202. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
After reaching the first sales target around 1.1403, the euro began to rise. If the rally continues, the price may retest the resistance B of 1.1482–1.1468. If bears manage to keep the price below the resistance B, consider opening short positions with the same targets as before.
If the resistance B is pierced today, the downtrend will likely reverse. In that case, consider buying the euro 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 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
