Technical analysis for USCrude, XAUUSD, and EURUSD today (05 February 2025)
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.
The euro has reversed its short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trying to correct upwards.
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XAUUSD: gold continues to set new historical highs.
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EURUSD: the euro has reversed its downtrend. Consider long trades on pullbacks.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term downtrend. Yesterday, a correction started. If it continues today, the price may climb to the resistance (A) 74.04 – 73.71. Once this zone is reached, one may consider short trades with the first target of 72.22 and the second one near yesterday’s low of 70.41.
If the asset breaks through the resistance (A) today, the correction will continue to the trend boundary 75.85 – 75.36. Consider short trades near this zone.
USCrude Trading Ideas for Today:
Sell near resistance (A) 74.04 – 73.71. TakeProfit: 72.22, 70.41. StopLoss: 74.68.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to strengthen within the short-term uptrend. The price pierced the Gold Zone 2819 – 2813 yesterday. The next bullish target is the Target Zone 2, 2882 – 2871. Consider holding long trades open until the asset reaches the target.
If a correction unfolds, the quotes may drop to the support (A) 2800 – 2794. Once this zone is tested, one may consider long trades with the first target of 2826 and the second one near today’s high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2800 – 2794. TakeProfit: 2826, 2858. StopLoss: 2783.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro reached the first bearish target after hitting the resistance 1.0362 – 1.0348 yesterday. After that, the price started to grow and broke through this resistance. Besides, the asset closed higher in the US trading session. As a result, the short-term downtrend has reversed.
For the remaining week, consider long trades at the support (A) 1.0295 – 1.0286 and support (B) 1.0249 – 1.0235. The main bullish target will be above yesterday’s high. If the price settles even higher, the quotes may continue to advance to the Target Zone 1.0514 – 1.0486.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.0295 – 1.0286. TakeProfit: 1.0337, 1.0387. StopLoss: 1.0267.
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Price chart of EURUSD in real time mode
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