Technical analysis for USCrude, XAUUSD, and EURUSD today (31 January 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.
Gold broke through the Target Zone 2773 – 2756 yesterday.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trading in an upward correction within a short-term downtrend.
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XAUUSD: gold has pierced the upper Target Zone 2773 – 2756.
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EURUSD: the euro is trying to continue rising after hitting the support (B) 1.0395 – 1.0381.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in an upward correction within the short-term downtrend. If the correction continues today, the quotes may climb to the resistance (A) 75.33 – 75.00. Once this zone is tested, one may consider short trades with the first target of 73.52 and the second one near 71.70.
The key resistance is shifting to 77.15 – 76.65. If the price reaches this zone, short trades can be considered.
USCrude Trading Ideas for Today:
Sell near resistance (A) 75.33 – 75.00. TakeProfit: 73.52, 71.70. StopLoss: 76.00.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold broke through the Target Zone 2773 – 2756. The next bullish target within the short-term uptrend is the Gold Zone 2819 – 2813. One may consider long trades on a correction. If the correction unfolds, the price may soar to the strong support (A) 2741 – 2736 or support (B) 2713 – 2704.
Support (B) is the trend boundary. Long trades can be considered as long as the price is trading above this zone.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2741 – 2736. TakeProfit: 2767, 2799. StopLoss: 2725.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is testing the short-term uptrend’s key support 1.0395 – 1.0381 but cannot pierce it. Consequently, consider long trades today. The first bullish target will be 1.0457, and the second one will be the January 27 high near 1.0533.
If the asset breaks through the support (B) 1.0395 – 1.0381 today, the uptrend will reverse. In this case, one may consider short trades with the target in the lower Target Zone 1.0257 – 1.0229.
EURUSD Trading Ideas for Today:
Buy near support (B) 1.0395 – 1.0381. TakeProfit: 1.0457, 1.0533. StopLoss: 1.0354.
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Price chart of XAUUSD in real time mode
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