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.
The euro has reached its second target for short-term longs.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil reached all short-term sell targets.
- XAUUSD: Gold attempts to break through the Gold Zone 2940 – 2933.
- EURUSD: The euro climbed past the previous high of February 14; support (A) 1.0410 – 1.0399 had been triggered.
Oil Price Forecast for Today: USCrude Analysis
Oil continues trading in a short-term downtrend, approaching the lower Target Zone 69.46 – 68.47. If it reaches this zone, important market participants will likely close their shorts, and the price will correct upward.
If the price corrects from the current levels, expect it to rise to resistance (А) 72.97 – 72.70. Once this zone is reached, new shorts can be considered, with the first target of 71.50 and the second one near 70.03.
USCrude Trading Ideas for Today:
Sell near resistance (А) 72.97 – 72.70. TakeProfit: 71.50, 70.03. StopLoss: 73.45.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term uptrend, attempting to break above the Gold Zone 2940 – 2933 and settle higher. If it does so, the uptrend may continue to the upper Target Zone 3008 – 2996.
If the Gold Zone holds, the price will correct downward, targeting support (А) 2892 – 2886. Once this zone is reached, new longs can be considered, with the first target at 2920 and the second one near 2955.
XAUUSD Trading Ideas for Today:
Buy near support (А) 2892 – 2886. TakeProfit: 2920, 2955. StopLoss: 2874.
Euro/Dollar Forecast for Today: EURUSD Analysis
The second buy target for the euro from support (А) 1.0410 – 1.0399 was reached in an Asian trading session today, at 1.0514. Next, traders will likely attempt to break above the upper Target Zone 1.0514 – 1.0486. If they succeed, the next growth target will be the Gold Zone 1.0601 – 1.0590.
If sellers hold their positions in the Target Zone, a downward correction will start. Then, expect the price to test support (А) 1.0424 – 1.0413. Once this zone is tested, new longs can be considered, with the first target at 1.0471 and the second one near 1.0528.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0424 – 1.0413. TakeProfit: 1.0471, 1.0528. StopLoss: 1.0395.
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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