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.
Oil is testing yesterday’s high.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is shifting to a short-term uptrend due to geopolitical factors.
- XAUUSD: Gold is testing the 4,044 level from below.
- EURUSD: The euro continues to trade within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is attempting to settle above the resistance B of 83.57–82.99. If it does, the short-term trend will turn bullish. In that case, consider long trades, targeting the upper Target Zone of 90.01–88.84.
If bears manage to defend the resistance B today, one may consider short trades, with the first target at 80.34 and the second one at 77.14.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold surged on the back of the US Fed’s rate decision. However, the price returned to the 4,044 level following the Fed Chair’s comments. Consequently, a false breakout formed.
Within this pattern, traders had an opportunity to reopen short positions. Today, the price hit the first target of 4,029 set for these trades. The second target is the July low around 3,959.
XAUUSD Trading Ideas for Today:
Hold part of short trades near resistance B of 4,128–4,113. TakeProfit: 3,959. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro strengthened following yesterday’s interest rate decision by the US Fed. However, the short-term trend remains downward. During the corrective rally, the asset once again tested the trend boundary at 1.1482–1.1468. Since bears are holding this zone, one may consider short trades near it, with the first target at 1.1400 and the second one at 1.1324.
If the EURUSD pair breaks above the resistance B today, the short-term trend will turn bullish. In that case, consider long trades, with a target in the upper Target Zone of 1.1601–1.1576.
EURUSD Trading Ideas for Today:
Sell near resistance B of 1.1482–1.1468. TakeProfit: 1.1400, 1.1324. StopLoss: 1.1507.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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