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.
Gold reached support (А) 2893 – 2887 yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil continued declining and reached the Target Zone 69.46 – 68.47.
- XAUUSD: Gold tested support (А) 2893 – 2887, then grew and reached the first buy target at 2921.
- EURUSD: Sellers are holding the Target Zone 1.0514 – 1.0486, suggesting that a downward correction will develop.
Oil Price Forecast for Today: USCrude Analysis
Oil reached the key Target Zone 69.46 – 68.47 within a short-term downtrend. Large sell trades might be closed in this zone, potentially driving the price into an upward correction. If so, expect the price to grow to resistance (А) 71.48 – 71.22. Once this zone is reached, new short trades can be considered, with the first target of 70.04 and the second one near yesterday’s low of 68.60.
USCrude Trading Ideas for Today:
Sell near resistance (А) 71.48 – 71.22. TakeProfit: 70.04, 68.60. StopLoss: 71.95.
Gold Forecast for Today: XAUUSD Analysis
Gold reached support (А) 2893 – 2887 yesterday. As large buy trades were opened in that area, the price rose and reached the first target at 2921. The remaining buy trades can be moved to breakeven while awaiting the asset’s reach of a second target at around 2956.
If support (А) is broken to the downside, the price can be expected to decline to support (В) 2862 – 2853 — the key zone of the short-term uptrend. Consider opening longs from these levels.
XAUUSD Trading Ideas for Today:
Hold a part of longs near support (А) 2893 – 2887. TakeProfit: 2956. StopLoss: breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Euro buyers attempted to break above the February 24 high near 1.0528 but failed. Sellers also held the Target Zone 1.0514 – 1.0486. So, expect a correction to develop today, with a target near support (А) 1.0424 – 1.0413.
Once this zone is reached, new longs can be considered, with the first target at 1.0470 and the second one near the February 24 high.
If bulls break through the Target Zone and the price consolidates above, the short-term uptrend could continue, targeting the Gold Zone 1.0601 – 1.0590.
EURUSD Trading Ideas for Today:
Buy near support (А) 1.0424 – 1.0413. TakeProfit: 1.0470, 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 XAUUSD in real time mode
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