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 continues to trade in a short-term uptrend today.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has touched the support (A) 69.00 – 68.70.
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XAUUSD: gold is trading in a downward correction.
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EURUSD: the euro has reached all the bullish targets for the trades opened at the support (B) 1.0798 – 1.0783.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a downward correction within the short-term uptrend. The asset is testing the support (A) 69.00 – 68.70. If bulls manage to hold the price above this zone, one may consider long trades with the first target of 70.31 and the second one of 71.93.
If the price breaks through the support (A) today, the correction will continue to 67.53 – 67.09, the trend boundary. Consider long trades near this zone.
USCrude Trading Ideas for Today:
Buy near support (A) 69.00 – 68.70. TakeProfit: 70.31, 71.93. StopLoss: 68.14.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tried to break through the Target Zone 3144 – 3131 but failed to do so. As a result, the price has returned below the resistance, and a downward correction has started. The correction may continue today. Therefore, the asset will likely reach the support (A) 3097 – 3090. Once this zone is reached, consider long trades with the first target of 3129 and the second one near yesterday’s high of 3167.
If gold consolidates above yesterday’s high, the short-term uptrend will likely continue with a target in the Gold Zone 3205 – 3198.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3097 – 3090. TakeProfit: 3129, 3167. StopLoss: 3076.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term uptrend today. As a result, all bullish targets were reached, and the March high of 1.0954 was exceeded. The price keeps rising with the target at the Gold Zone 1.1017 – 1.1006. Major traders may close their high-volume positions in the Gold Zone, triggering a correction. However, if the price pierces the Gold Zone, the next bullish target will be the Target Zone 1.1131 – 1.1110.
Consider long trades near the strong support (A) 1.0886 – 1.0875 and support (B) 1.0834 – 1.0818.
EURUSD Trading Ideas for Today:
Watch the market.
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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