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 euro extended its short-term downtrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil reached the Gold Zone of 94.09–93.64 and started a correction.
- XAUUSD: Gold continues to trade in a short-term uptrend.
- EURUSD: The euro is approaching the second bearish target of 1.1507.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a short-term uptrend. The price exceeded yesterday’s opening high and reached 87.14 today. It then climbed to the Target Zone of 90.52–89.18. After the asset pierced this zone, it reached the Gold Zone of 94.09–93.64.
Now, the price is declining toward the support A of 90.19–89.75. Long trades can be considered near this zone, with the first target at 92.20 and the second one at today’s high of 94.65. If the oil price breaks below the support A, the correction will continue to the support B of 87.96–87.29.
USCrude Trading Ideas for Today:
Buy near support A of 82.68–82.23. TakeProfit: 84.68, 87.14. StopLoss: 81.06.
Gold Forecast for Today: XAUUSD Analysis
Gold is still trading in a short-term uptrend. On Monday, the price failed to hit the first bullish target of 5,244. Nevertheless, consider holding the long trades opened at the support B of 5,101–5,069. If the price breaks above the 5,244 level, the next bullish target will be the March 2 high of 5,419.
If the gold price breaks below the support B, the short-term trend will turn bearish. In this case, consider short trades with a target in the lower Target Zone of 4,783–4,719.
XAUUSD Trading Ideas for Today:
Hold long trades opened at support B of 5,101–5,069. TakeProfit: 5,244, 5,419. StopLoss: 5,075.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued its short-term downtrend yesterday, reaching its first bearish target of 1.1596. Today, the price is testing the Target Zone 2 of 1.1531–1.1509. If the EURUSD pair breaks below this zone, the next bearish target will be the Gold Zone 2 of 1.1423–1.1412. Therefore, consider holding part of the existing short trades until the price hits the target of 1.1507.
If the price rises and pierces the resistance B of 1.1685–1.1669 today, the short-term trend will turn bullish. In this case, consider long trades with a target in the upper Target Zone of 1.1863–1.1831.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 1.1685–1.1669. TakeProfit: 1.1507. StopLoss: at breakeven.
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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