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 reached its key growth target last week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil fell below last week’s low, and the price corrected afterward.
- XAUUSD: Gold is trading within a correction of a short-term uptrend.
- EURUSD: The euro is testing the upper Target Zone 1.0514 – 1.0486. Once it’s broken, the price may continue growing to the Gold Zone 1.0601 – 1.0590.
Oil Price Forecast for Today: USCrude Analysis
The oil price continues trading in a short-term downtrend, having broken below the low of February 13 today. If the price consolidates below this low, the next selling target will be the Target Zone 69.46 – 68.47.
The price is currently correcting upward. If the ascending correction develops, expect oil prices to reach the resistance (А) 73.06 – 72.79. Once this zone is reached, new shorts can be considered, with the first target of 71.58 and the second one near 70.12.
USCrude Trading Ideas for Today:
Sell near resistance (А) 73.06 – 72.79. TakeProfit: 71.58, 70.12. StopLoss: 73.53.
Gold Forecast for Today: XAUUSD Analysis
Last week, gold buyers attempted to break above the Gold Zone 2940 – 2933 within a short-term uptrend. As they failed, the price corrected downward and tested the support (А) 2880 – 2873. Since buyers keep holding this zone, we can consider new longs there, with the first target at 2908 and the second at 2942.
If the support (А) is broken to the downside, the correction will continue to support (В), 2848 – 2839, which is the trend’s boundary.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2880 – 2873. TakeProfit: 2908, 2942. StopLoss: 2863.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price reached the key growth target in the upper Target Zone 1.0514 – 1.0486 last week. Market participants will likely attempt to break above the resistance. If they manage to do so and the price consolidates above, the short-term uptrend could continue, targeting the Gold Zone 1.0601 – 1.0590.
If sellers hold their positions in the Target Zone, a downward correction will start, with potential targets near support (А) 1.0410 – 1.0399 or support (В) 1.0358 – 1.0342. Once these important support levels are tested, consider new longs with the key target at 1.0513, last week’s high.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0410 – 1.0399. TakeProfit: 1.0457, 1.0514. StopLoss: 1.0380.
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Price chart of EURUSD in real time mode
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