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.
Short-term forecast for oil, gold, and euro-dollar today. The euro price continues rising, approaching the second buy target.
The article covers the following subjects:
Major Takeaways
- USCrude: The first sell target within a short-term downtrend has been reached.
- XAUUSD: Gold is growing after testing the support (А) 2880 – 2873.
- EURUSD: The euro price is approaching a level of 1.0442.
Oil Price Forecast for Today: USCrude Analysis
Oil prices are declining from the resistance area (А) 73.14 – 72.88 within a short-term downtrend. The first sell target, near 71.69, was reached yesterday, so the second target, near 70.24, may be reached today. If the price starts growing actively during the European trading session, the rest of the short positions should be closed at market price.
If the price drops below February’s low, the next short target will be the lower Target Zone 69.46 – 69.13. To reverse the trend to the upside, traders must break above the resistance (В) 74.59 – 74.19.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (A) 73.14 – 72.88. TakeProfit: 70.25. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
The gold price corrected downward and tested the support (А) 2880 – 2873 yesterday. This support was held by buyers, leading to a price increase, and the first buy target was reached at around 2908. The second growth target is the February high of 2942. If the price holds above February’s high, the rise may continue with a target in the 3008–2996 zone. If a downward impulse forms during the European session, the remaining long positions should be closed at market price.
XAUUSD Trading Ideas for Today:
Hold a part of longs near support (А) 2880 – 2873. TakeProfit: 2942. StopLoss: breakeven
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price continues rising, approaching the second buy target at February 5’s high within a short-term uptrend. Once that high is surpassed, expect the price to consolidate above it. In that case, the short-term uptrend will likely continue to the Target Zone 1.0514 – 1.0486.
If a downward impulse forms during the European trading session, the remaining long positions should be closed at market price. To reverse the uptrend and start selling, traders must break below the support (В) 1.0304 – 1.0290.
EURUSD Trading Ideas for Today:
Hold a portion of longs near support (B) 1.0304 – 1.0290. TakeProfit: 1.0442. StopLoss: breakeven.
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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