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.
Yesterday euro’s short-term trend reversed to the upside.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil attempts to grow after testing support (А) at 59.74 – 59.44.
- XAUUSD: The price of gold continued to rise, setting a new all-time high.
- EURUSD: The short-term trend turned bullish, reaching the Gold Zone 1.1355 – 1.1343.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to correct yesterday, breaking below support (А) at 59.74 – 59.44. However, the price bounced back to the support level during the U.S. trading session. As a result, it was possible to consider reopening long positions, with the first target at 61.11 and the second target around 62.76. Today, holding longs would be a smart strategy.
If support (А) is broken to the downside again, the bearish correction may reach the trend boundary at 58.24 – 57.79. Once this zone is reached, expect a rebound and consider opening long positions.
USCrude Trading Ideas for Today:
Hold long positions near support (А) 59.74 – 59.44. TakeProfit: 61.11, 62.76. StopLoss: 58.85.
Gold Forecast for Today: XAUUSD Analysis
Gold‘s short-term uptrend continued yesterday, climbing past the April 3 high. The upper Target Zone 3204 – 3181 was also reached. The price is currently correcting downward. If the correction continues, expect the price to test support (А) at 3145 – 3137. Once this zone is tested, consider new buy trades with the first target at 3178 and the second one near today’s high.
If the price settles above today’s high, the next growth target will be the Gold Zone 3264 – 3256.
XAUUSD Trading Ideas for Today:
Buy near support (А) 3145 – 3137. TakeProfit: 3178, 3220. StopLoss: 3123.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday euro’s short-term trend reversed to the upside, breaking above resistance (В) 1.1070 – 1.1053. The price also climbed past the April 3 high and reached the Target Zone 1.1262 – 1.1227. Today, starting from the market open, the price continued to rise and broke through the Target Zone, reaching the Gold Zone at 1.1355–1.1343. The price is currently correcting downward and may be expected to test support (А) 1.1267 – 1.1256.
Once this support area is reached, watch the market. If signs of buying pressure emerge, a long position could be opened with the first target at 1.1320 and the second target around today’s high. If support (А) is broken to the downside, the correction will continue to support (В), 1.1209 – 1.1192.
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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