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.
Oil continued to trade in a short-term uptrend last Friday.
The article covers the following subjects:
Major Takeaways
- USCrude: oil has reached the Target Zone 63.31 – 62.54.
- XAUUSD: gold continues to climb and set new all-time highs.
- EURUSD: the euro is trying to consolidate above the Target Zone 2, 1.1482 – 1.1459.
Oil Price Forecast for Today: USCrude Analysis
Last Friday, oil continued its short-term uptrend and exceeded the April 10 high. Besides, the price tried to break through the Target Zone 63.31 – 62.54 but failed to consolidate above it. As a result, a downward correction has started.
If the downward correction continues today, the quotes may fall to the support (A) 61.12 – 60.82. Consider long trades near this zone with the first target of 62.48 and the second one near the April 17 high of 64.13.
USCrude Trading Ideas for Today:
Buy near support (A) 61.12 – 60.82. TakeProfit: 62.48, 64.13. StopLoss: 60.25.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term uptrend. Last week, the price reached the Target Zone 2, 3346 – 3331. Today, the asset has pierced this Target Zone and is attempting to reach the next target in the Gold Zone 2, 3414 – 3406.
Once the Gold Zone 2 is reached, major traders may close their long positions, triggering a downward correction. If the price breaks through the Gold Zone 2, the short-term trend may continue with the target in the Target Zone 3, 3496 – 3481.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3318 – 3310. TakeProfit: 3352, 3394. StopLoss: 3295.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to trade in a short-term uptrend last week. As a result, the asset has exceeded the April 11 high and tested the Target Zone 2, 1.1482 – 1.1459. Today, the price is trying to consolidate above the Target Zone 2. If so, the next bullish target will be the Gold Zone 2, 1.1609 – 1.1595.
If a downward correction starts from the current levels, the quotes may slide to the support (A) 1.1398 – 1.1384. Once this support is tested, consider long trades with the first target of 1.1459 and the second one near today’s high of 1.1534. The trend boundary is shifting to 1.1330 – 1.1310.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1398 – 1.1384. TakeProfit: 1.1459, 1.1534. StopLoss: 1.1358.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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