I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Gold continues to trade in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading in an upward correction.
- XAUUSD: Gold continues to trade in a short-term downtrend.
- EURUSD: The euro is rising and approaching the Target Zone 1.1774 – 1.1739.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil set a new weekly low within the short-term downtrend.
Today, an upward correction has started. If it persists, the price may test the resistance (A) 64.75 – 64.44. Once this zone is tested, consider short trades with the main target at this week’s low.
USCrude Trading Ideas for Today:
Sell near resistance (A) 64.75 – 64.44. TakeProfit: 63.04, 61.34. StopLoss: 65.33.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term downtrend. The price is trading below the resistance (B) 3391 – 3380. The first bearish target was reached last week. The next target is the July 30 low of 3268.
If the asset settles above last week’s high today, the short-term downtrend will reverse. In this case, consider long trades with a target in the upper Target Zone 3515 – 3493, starting from the next trading day.
XAUUSD Trading Ideas for Today:
Hold part of short trades initiated at resistance open (B) 3391 – 3380. TakeProfit: 3268. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to trade in a short-term uptrend. As a result, the price soared above last week’s high and approached the upper Target Zone 1.1774 – 1.1739.
Currently, the asset is trading in a downward correction. If the correction extends, the price may test the support (A) 1.1614 – 1.1602. Once this zone is tested, consider long trades with the main target at this week’s high. The trend boundary is shifting to 1.1556 – 1.1538. Therefore, as long as the price is trading above this area, one may consider long trades.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1614 – 1.1602. TakeProfit: 1.1666, 1.1730. StopLoss: 1.1580.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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