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. Gold trades in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is declining within a short-term downtrend.
- XAUUSD: Gold has reached a new all-time high and hit all buy targets.
- EURUSD: The euro attempts to continue growing from support (А) 1.0410 – 1.0399.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil headed downward after testing the resistance (А) 73.06 – 72.79. Today, the price is approaching the first sell target near 71.58. If this level is broken out, the next target for short positions will be a level of 70.12.
In an alternative scenario, the price will grow and break above the resistance (А). In that case, we will expect a test of resistance (В) 74.53 – 74.13, the trend’s boundary, and consider opening short positions from that resistance.
USCrude Trading Ideas for Today:
Hold shorts near resistance (А) 73.06 – 72.79. TakeProfit: 71.58, 70.12. StopLoss: breakeven
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend, testing the resistance zone 2940 – 2933. Yesterday, the price reached the second target for long positions from the support (А) 2880 – 2873, breaking above the high of February 11. If buyers break above the resistance zone 2940 – 2933 today, the next target of the uptrend will be the 3008 – 2996 area.
If the resistance zone is not broken, a downward correction will start, and we will expect the price to fall to a new support zone (А), 2884 – 2878. Once this zone is tested, consider new longs.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price corrected to the support (А) 1.0410 – 1.0399 yesterday, but the zone was held by buyers, which led to growth. If this growth continues today, the price may reach the first target for longs at around 1.0457. The second growth target will be the 14 February high of 1.0514.
In an alternative scenario, the support (А) could be broken, and the price will correct to the support (В) 1.0358 – 1.0342. Once this zone is tested, consider long trades.
EURUSD Trading Ideas for Today:
Hold long positions 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.
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Price chart of XAUUSD in real time mode
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