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 is settling above the Gold Zone 1.0809 – 1.0798.
The article covers the following subjects:
Major Takeaways
- USCrude: All the targets within a short-term downtrend have been reached.
- XAUUSD: Gold is growing from support (В) 2862–2853. The second growth target is a level of 2956.
- EURUSD: The euro attempts to continue its short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil‘s short-term downtrend continued yesterday, and the price came close to last week’s low. It is recommended to close all the shorts opened near resistance (A) 68.20 – 67.91.
If an ascending correction starts from the current levels, expect the price to reach resistance (A). Once this zone is reached, new shorts can be considered again, with the first target at 66.60. If resistance (А) is broken to the upside, the correction will continue up to resistance (B) 69.81 – 69.37.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term uptrend. The second growth target is the February high of around 2956. Thus, holding the remaining longs at breakeven would be smart today.
If the price settles above the February high, the rise may continue up to the Target Zone 3008–2996. After the Target Zone is reached, large market participants could close their long positions and push the price into a correction.
XAUUSD Trading Ideas for Today:
Hold a part of longs near support (В) 2862–2853. TakeProfit: 2956. StopLoss: breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is settling above the Gold Zone 1.0809 – 1.0798. The short-term trend remains bullish. The growth target is the Target Zone 1.0923–1.0902.
Consider opening new longs during a correction, especially at strong support levels within this trend. The nearest support is support (A) 1.0785 – 1.0774. Once this zone is reached, look for a pattern to go long, with the first target at 1.0832 and the second one near 1.0889.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.0785–1.0774. TakeProfit: 1.0832, 1.0889. StopLoss: 1.0754.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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