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.
Oil extended its short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Yesterday, oil hit all its bullish targets and pulled back to the support B at 93.45–92.78.
- XAUUSD: After reaching the Gold Zone of 4,603–4,586, gold prices entered a correction.
- EURUSD: The euro is edging up and testing the resistance B at 1.1589–1.1572.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued its short-term uptrend, reaching the second bullish target set for the trades opened at the support B of 93.12–92.45. This target was the March 16 high. Once it was reached, a bearish correction started.
During the correction, the price went down to the support B at 93.45–92.78, the trend boundary. Therefore, long trades can be considered near this zone with the first target at 96.45 and the second one at yesterday’s high of 100.14.
If the oil price breaks below the support B today, the short-term trend will turn bearish. In that case, consider short trades with a target in the lower Target Zone of 86.76–85.42.
USCrude Trading Ideas for Today:
Buy near support B at 93.45–92.78. TakeProfit: 96.45, 100.14. StopLoss: 91.07.
Gold Forecast for Today: XAUUSD Analysis
Gold prices continued to fall yesterday, breaching the Target Zone of 4,783–4,719. After that, the asset declined to the Gold Zone of 4,603–4,586. However, bulls managed to keep the price above this zone, and an upward correction emerged.
During the correction, the price advanced to the resistance A at 4,699–4,681. Since bears are holding the asset below this zone, short trades can be considered near it, with the first target at 4,601 and the second one at yesterday’s low of 4,502.
If the metal breaks above the resistance A, the correction will proceed toward the resistance B at 4,797–4,771, the trend boundary. Short trades can also be considered near this zone.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,699–4,681. TakeProfit: 4,601, 4,502. StopLoss: 4,740.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro reached its first bearish target set for the trades opened at the resistance A of 1.1529–1.1518.
Afterward, the price rebounded and resumed its bullish correction, climbing to the resistance B at 1.1589–1.1572. This zone marks the boundary of the short-term downtrend. Therefore, consider short trades near this zone with the first target at 1.1500 and the second one around 1.1410.
If the EURUSD pair breaks above the resistance B today, the trend will turn bullish. In this scenario, consider long trades with a primary target in the upper Target Zone of 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Sell near resistance B at 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1621.
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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