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.
The oil price is trading in a correction within the short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is declining toward the support A of 64.84–64.63, but the trend remains bullish.
- XAUUSD: Gold has pierced the upper Target Zone of 5,101–5,037.
- EURUSD: After reaching the Target Zone of 1.1758–1.1725, the euro started to climb in a correction.
Oil Price Forecast for Today: USCrude Analysis
The oil price is trading in a correction within the short-term uptrend. If the asset falls lower today, it may reach the support A of 64.84–64.63. Once the price reaches this zone, consider long trades with the first target at 65.80 and the second one at the Friday high of 66.97.
If the price breaks below the support A today, the correction will proceed towards the trend boundary of 63.78–63.46. Consider long trades near this zone with the primary target at 66.97.
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
Last week, the gold price strengthened further. Today, the price reached the second bullish target set for the trades opened at the support A of 4,907–4,886. This target was the February 11 high. Afterward, gold broke above the Target Zone of 5,101–5,037. Therefore, the next bullish target is the Gold Zone of 5,271–5,249.
Long trades can be considered during a correction at the strong support A of 4,964–4,943 and support B of 4,858–4,826, the trend boundary.
XAUUSD Trading Ideas for Today:
Buy near support A of 4,964–4,943. TakeProfit: 5,060, 5,176. StopLoss: 4,892.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro price reached the lower Target Zone of 1.1758–1.1725 and then began to rise in a correction within the short-term downtrend. The potential bullish target is the resistance A of 1.1860–1.1850. Once the price reaches this zone, consider short trades with the first target at 1.1801 and the second one at 1.1742.
If the EURUSD pair breaks above the resistance A, the correction will continue to the resistance B of 1.1920–1.1904, the trend boundary. Consider short trades near this zone.
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 USCRUDE in real time mode
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