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.
On Friday, the euro continued to trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has tested the resistance (A) 68.20 – 67.91.
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XAUUSD: gold is testing the Target Zone 3008 – 2996.
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EURUSD: the euro is rising after hitting the support (A) 1.0843 – 1.0832.
Oil Price Forecast for Today: USCrude Analysis
Oil tested the resistance (A) 68.20 – 67.91 today during the correction within the short-term downtrend. Consider holding short trades open near this resistance with the first target of 66.60 and the second one near 65.00.
If the price breaks through the resistance (A) today, the correction will continue to the resistance (B) 69.81 – 69.37. Short trades can be considered near this zone, which is the trend boundary.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (A) 68.20 – 67.91. TakeProfit: 66.60, 65.00. StopLoss: 68.79.
Gold Forecast for Today: XAUUSD Analysis
Gold reached the Target Zone 3, 3008 – 2996, last week. The short-term trend remains upward. If the asset pierces the Target Zone 3, the price may continue to climb to the Gold Zone 3, 3065 – 3058.
If bears manage to hold the price below the Target Zone 3 today, a bearish correction may start. If so, the quotes may fall to the support (A) 2942 – 2936. Once this support is tested, one may consider long trades with the main target at last week’s high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 2942 – 2936. TakeProfit: 2970, 3004. StopLoss: 2924.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last Friday, the euro continued to trade in a short-term uptrend. As a result, the price has hit the first bullish target near 1.0890. If the asset manages to break through and settle above this level, the next bullish target will be the March 11 high of 1.0947. If the price consolidates higher, the short-term uptrend may extend to the Gold Zone 1.1017 – 1.1006.
Today, consider holding a part of long trades opened at the support (A) 1.0843 – 1.0832. These positions can be shifted to the breakeven point.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (A) 1.0843 – 1.0832. TakeProfit: 1.0947. StopLoss: at the 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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