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 is testing a short-term uptrend’s key support.
The article covers the following subjects:
Major Takeaways
- USCrude: oil is trading in an upward correction.
- XAUUSD: gold has risen to the resistance area 2940 – 2933 today.
- EURUSD: the pair is trading near the key support of a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
The oil price is trading within the upward correction of a short-term downtrend, targeting the resistance (А) 73.14 – 72.88. Once this zone is reached, short trades can be considered, with the first target of 71.69 and the second one near 70.24.
If the resistance (А) is broken to the upside, the correction will continue up to the trend’s boundary located at 59 – 74. 19. After that zone is reached, consider short positions with a target at February’s low.
USCrude Trading Ideas for Today:
Sell near resistance (A) 73.14 – 72.88. TakeProfit: 71.69, 70.25. StopLoss: 73.62.
Gold Forecast for Today: XAUUSD Analysis
Gold prices have grown to the resistance 2940 – 2933 today. Major market players closed their longs in that area, and the price corrected downward. If the correction continues, quotes may reach the support (А) 2880 – 2873. Once this zone is tested, consider new longs with the first target at 2908 and the second one near today’s high.
If the support (А) is broken to the downside, the bearish correction will reach the trend boundary 2848 – 2839. From that area, consider longs with the key target at today’s high.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2880 – 2873. TakeProfit: 2908, 2942. StopLoss: 2862.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is testing a short-term uptrend’s key support at 1.0304 – 1.0290. As that area was not broken yesterday, we can consider new longs there, with the first target at 1.0366 and the second around 1.0442.
If the price breaks through the support (B) 1.0304 – 1.0290 today, the short-term uptrend will reverse. If so, short trades can be considered starting tomorrow, with the key target near the lower target zone 1.2090 – 1.2072. Profits can be locked in partially when the price drops below February’s low.
EURUSD Trading Ideas for Today:
Buy near support (B) 1.0304 – 1.0290. TakeProfit: 1.0366, 1.0442. StopLoss: 1.0266.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
