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’s short-term downtrend continued yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil prices continued to rise yesterday. The support B had been held.
- XAUUSD: Gold is declining, approaching the Target Zone of 4,783–4,719.
- EURUSD: The euro is declining within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil’s short-term uptrend continued yesterday, reaching the first buy target near 96.13. The next target is at 99.81, the March 16 high. If the price settles above this level, the rally may extend to the Gold Zone 2 at 103.01–102.56.
If the Target Zone 2 at 99.00–98.10 is held by sellers, the price will start to decline toward the support B at 93.12–92.45. This zone marks the trend boundary. If it is broken to the downside, the short-term trend will shift to bearish. In this case, consider short positions from the next trading day.
USCrude Trading Ideas for Today:
Hold part of longs near support B at 93.12–92.45. TakeProfit: 99.81. StopLoss: breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold’s short-term downtrend continued yesterday, and the price approached the lower Target Zone at 4,783–4,719. Market participants are likely to test this zone today. If it is broken, the next downside target will be the Gold Zone at 4,603–4,586.
New short positions are best considered during a correction from strong resistance levels. The nearest strong resistance is the resistance A at 5,000–4,982. The first target for shorts from this area is 4,902. The second target is today’s low at 4,803.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 5,000–4,982. TakeProfit: 4,902, 4,803. StopLoss: 5,044.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro failed to hold above the resistance A at 1.1529–1.1518. As a result, the price moved back below the resistance A during the European session. Following the Fed’s interest rate decision, the US dollar strengthened, and the EUR/USD pair declined, reaching the first downside target at 1.1470. The second downside target is last week’s low at 1.1410.
If the price starts to rise today and the resistance A is broken, expect a move toward the resistance B at 1.1589–1.1572. This zone represents the boundary of the short-term downtrend. Therefore, after it is reached, selling opportunities can also be considered.
EURUSD Trading Ideas for Today:
Hold a part of shorts near the resistance A at 1.1529–1.1518. TakeProfit: 1.1410. StopLoss: breakeven.
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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