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.
Gold remained in a short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading in an upward correction.
- XAUUSD: Gold hit a new all-time high.
- EURUSD: The euro price is correcting downward, testing support (A) 1.0843 – 1.0832.
Oil Price Forecast for Today: USCrude Analysis
Oil continues trading in a correction of a short-term downtrend. If the correction continues today, expect the price to test resistance (А) 68.20 – 67.91. Once this zone is reached, short positions can be considered again, with the first target at 66.60 and the second one near 64.99.
If resistance (А) is broken to the upside, the correction will continue up to the trend’s boundary at 69.81 – 69.37. Once it’s reached, opening shorts again will be wise.
USCrude Trading Ideas for Today:
Sell near resistance (А) 68.20 – 67.91. TakeProfit: 66.60, 64.99. StopLoss: 68.79.
Gold Forecast for Today: XAUUSD Analysis
Gold remained in a short-term uptrend yesterday, climbing past the February high and hitting a new historical maximum. Thus, all the targets for longs opened from support (В) 2862 – 2853 have been reached. Furthermore, the gold price approached the Target Zone 3008 – 2996. If sellers hold this zone, a downward correction will start. If so, gold may fall to support (A) 2931 – 2925. Once this zone is reached, consider opening long positions again.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2931 – 2925. TakeProfit: 2959, 2993. StopLoss: 2913.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is correcting downward. Yesterday, it reached support (А) 1.0843 – 1.0832. As buyers held the zone, long positions can be opened near that zone today, with the first growth target at 1.0890 and the second one at the high of March 11.
If support (А) is broken to the downside, the correction will continue to support (В) 1.0791 – 1.0775, the trend’s boundary, from which we can also open long positions.
EURUSD Trading Ideas for Today:
- Buy near support (A) 1.0843 – 1.0832. TakeProfit: 1.0890, 1.0947. StopLoss: 1.0812.
- Buy near support (В) 1.0791 – 1.0775. TakeProfit: 1.0861, 1.0947. StopLoss: 1.0746.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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