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 oil price is trading within an upward correction of a short-term downtrend,
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is trading in an upward correction.
- XAUUSD: Gold continues strengthening, testing the golden zone 2940 – 2933.
- EURUSD: The euro price is declining from the target zone 1.0514 – 1.0486, with a potential target in the support area (А) 1.0410 – 1.0399.
Oil Price Forecast for Today: USCrude Analysis
The oil price is trading within an upward correction of a short-term downtrend. Testing the resistance (А) 73.06 – 72.79 could be the target of this correction. Once the zone is tested, consider short trades with the first target of 71.58 and the second one near 70.12.
If resistance (А) is broken to the upside, the correction will continue up to the resistance (В) 74.53 – 74.13. From this zone, we can also consider shorts with a key target at 17 February’s low.
USCrude Trading Ideas for Today:
Sell near resistance (А) 73.06 – 72.79. TakeProfit: 71.58, 70.12. StopLoss: 73.53.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold reached the golden target 2940 – 2933 once again. The remaining portion of longs opened from support (А) 2880 – 2873 should be closed. The further trend direction will depend on whether buyers can break through the golden zone and consolidate above it. If they can, the next growth target will be the target zone 3008 – 2996.
If sellers hold the golden zone, a correction may unfold, targeting support (А) 2880 – 2873. Once this support is reached, consider new longs. The trend’s boundary is at 2848 – 2839.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The EUR/USD pair is correcting downward, with a possible target in support area (А) 1.0410 – 1.0399. Once this zone is reached, new longs can be considered with the first target at 1.0457 and the second one near the high of February 14.
If support (А) is broken to the downside during the correction, expect quotes to decline to support (В) 1.0358 – 1.0342, the trend’s boundary. Afterward, I suggest considering long positions.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0410 – 1.0399. TakeProfit: 1.0457, 1.0514. StopLoss: 1.0380.
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 USCRUDE 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.
