Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Yesterday, the euro plunged below the February 6 low of 1.1765.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has climbed to the second bullish target near the February 11 high. The next target is the Target Zone 67.88–67.24.
- XAUUSD: Gold is rising toward the Target Zone of 5,101–5,037.
- EURUSD: The euro has reached its second bearish target for the trades opened at the resistance A of 1.1943–1.1927.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to rally yesterday. As a result, the asset hit the second bullish target from the trades opened at the support B of 62.43–62.11. This target was the February 11 high of 65.63. The next bullish target is the upper Target Zone of 67.88–67.24. If the price breaks above this zone, it may advance to the Gold Zone of 69.59–69.37.
If a correction begins from current prices, oil may fall to the support A of 64.84–64.63 or support B of 63.78–63.46. Long trades can be considered near these zones, with the main target at today’s high.
USCrude Trading Ideas for Today:
Buy near support A of 64.84–64.63. TakeProfit: 65.80, 66.97. StopLoss: 64.10.
Gold Forecast for Today: XAUUSD Analysis
The gold price is increasing and nearing the upper Target Zone of 5,101–5,037. This is a strong resistance level. If the metal pierces this zone, it may climb to the Gold Zone of 5,271–5,249.
If the asset remains below the Target Zone, another correction may unfold. In this case, the gold price may drop to the support A of 4,907–4,886. If the price breaks below the support A, it may decline to the support B of 4,801–4,769.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support A of 4,907–4,886. TakeProfit: 5,119. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro fell below its February 6 low of 1.1765 and tested the Target Zone of 1.1758–1.1725. If the price breaks below this zone, the next bearish target will be the Gold Zone of 1.1650–1.1639.
If bulls keep the EURUSD pair above the Target Zone, an upside correction may start. During the correction, the euro price may reach the resistance A of 1.1860–1.1850. Short trades can be opened near this zone with the first target at 1.1801 and the second one at 1.1742.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1860–1.1850. TakeProfit: 1.1801, 1.1742. StopLoss: 1.1887.
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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