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, oil prices climbed and exceeded the February 20 high.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising, likely targeting above yesterday’s high.
- XAUUSD: Gold reached the Gold Zone of 5,271–5,249 today.
- EURUSD: The euro is trading in a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil exceeded the February 20 high and advanced to the upper Target Zone of 67.88–67.24. If the asset grows further, it may reach the Gold Zone of 69.59–69.37.
If bears keep the oil price below the Target Zone, a downward correction may start, dragging the asset down to the support A of 65.08–64.87. Consider long trades near this zone with the first target at 66.05 and the second one at 67.21.
USCrude Trading Ideas for Today:
Buy near support A of 65.08–64.87. TakeProfit: 66.05, 67.21. StopLoss: 64.33.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term uptrend. Today, the price reached the Gold Zone of 5,271–5,249. If the asset breaks above this zone, the next target will be the Target Zone 2 of 5,504–5,462.
If bears hold the gold price below the Gold Zone, a downward correction may begin, and the metal may slide to the support A of 5,036–5,015. Consider long trades near this zone with the first target at 5,132 and the second one at 5,249.
XAUUSD Trading Ideas for Today:
Buy near support A of 5,036–5,015. TakeProfit: 5,132, 5,249. StopLoss: 4,961.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price continues to trade in a short-term downtrend. The price is approaching the Target Zone of 1.1758–1.1725 and will likely break below this zone. If so, 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 upward correction may unfold, and the price may test the resistance A of 1.1860–1.1850. In this case, consider short trades near this zone with the first target at 1.1801 and the second one at last week’s low of 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 USCRUDE in real time mode
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