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.
Short-term forecast for oil, gold, and euro-dollar today. Gold’s short-term trend reversed to the upside at the end of last week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil remains under selling pressure.
- XAUUSD: Gold is pulling back after reversing to the upside.
- EURUSD: The euro is declining from the resistance B of 1.1482–1.1468.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading within a short-term downtrend. New short positions are best considered during a correction from strong resistance levels. The nearest resistance is the 73.23–72.67 area. After testing this zone, consider short positions with the first target at 70.15 and the second target at 67.06.
The trend boundary will shift to 76.31–75.47.
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’s short-term trend reversed to the upside at the end of last week. Market participants broke above the key resistance of 4,127–4,110. The main growth target is now the upper Target Zone at 4,310–4,277. New long positions are best considered during a correction from strong support levels. The nearest support zone is 4,091–4,080.
If a buy signal forms near the support A at 4,091–4,080, consider long positions with the first target at 4,141 and the second target at 4,202.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,091–4,080. TakeProfit: 4,141, 4,202. StopLoss: 4,052.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro reached the key resistance zone of the short-term downtrend at 1.1482–1.1468. Sellers successfully held this area, and the price is declining today. The first downside target is 1.1403, while the second target is the June low at 1.1324. Therefore, it is advisable to maintain previously opened short positions until these targets are reached.
An alternative scenario assumes a breakout above the key resistance zone, followed by a sustained move higher. In this case, the short-term trend will reverse to the upside, and the upper Target Zone at 1.1612–1.1641 will become the next upside target.
EURUSD Trading Ideas for Today:
Hold short positions near resistance B at 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 XAUUSD 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
