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.
Gold keeps trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is once again testing the support zone B of 93.12–92.45, the boundary of the short-term uptrend.
- XAUUSD: Gold is trading in a short-term downtrend and is poised to fall below this week’s low.
- EURUSD: The euro has climbed above the resistance A of 1.1529–1.1518.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, bulls failed to extend the short-term uptrend and reach the second target of 99.81. Instead, another correction started, and the price tested the support B of 93.12–92.45, the boundary of the short-term uptrend. If oil stays above the support zone, consider long trades with the first target of 96.13 and the second one of 99.81.
If the oil 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 86.43–85.09.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend and may drop below the March 16 low of 4,966. If so, the metal may reach the lower Target Zone of 4,783–4,719.
However, should the asset start to increase, it may hit the resistance A of 5,163–5,145. Consider short trades near this zone with a first target at 5,064 and a second one at 4,966.
XAUUSD Trading Ideas for Today:
Sell near resistance A of 5,163–5,145. TakeProfit: 5,064, 4,966. StopLoss: 5,209.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to rise in a correction yesterday, breaking above the resistance A of 1.1529–1.1518. If the price settles above this zone, the rally may extend toward the resistance B of 1.1589–1.1572. Consider short trades near this zone, with the first target at 1.1500 and the second one at 1.1410.
If the euro price returns below the resistance A today, one may consider new short trades with the first target at 1.1470 and a second one around 1.1410.
EURUSD Trading Ideas for Today:
Sell near resistance B of 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1613.
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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