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 broke through the key support of the short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is testing the resistance (B) 69.81 – 69.37.
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XAUUSD: gold continues to trade in a correction within the short-term uptrend.
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EURUSD: the euro has pierced the support (B) 1.0798 – 1.0783.
Oil Price Forecast for Today: USCrude Analysis
Oil is testing the key resistance of the short-term downtrend near 69.81 – 69.37. If the price fails to pierce this zone, the quotes may fall to the 67.40 mark. Should the asset consolidate below this mark, the price may continue to slide with the target at the March low of 65.00.
If oil breaks through the resistance (B) 69.81 – 69.37 today and closes higher in the US trading session, the short-term downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 73.79 – 72.99.
USCrude Trading Ideas for Today:
Hold up sales opened near resistance (B) 69.81 – 69.37. TakeProfit: 67.40, 65.00. StopLoss: 70.60.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term uptrend, likely targeting the support (A) 2990 – 2983. Once this zone is tested, one may consider long trades with the first target of 3020. The second bullish target will be last week’s high near 3057.
If the price pierces the support (A) today, the correction will proceed to the support (B) 2956 – 2946, the boundary of the short-term uptrend. Therefore, consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2990 – 2983. TakeProfit: 3020, 3057. StopLoss: 2970.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro broke through the short-term uptrend’s key support 1.0798 – 1.0783. Today, the price is trying to recover. If the quotes return to and settle above the 1.0798 level, then yesterday’s breakout will be false. In this case, consider long trades near the support (B) 1.0798 – 1.0783 with the first target of 1.0868 and the second one at the March high of 1.0954.
If the price closes below the support (B) today in the US trading session, the short-term uptrend will reverse. If so, consider short trades with the target at the lower Target Zone 1.0642 – 1.0611, starting tomorrow.
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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