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.
Market volatility is expected to be lower today due to holidays in the US and Europe.
The article covers the following subjects:
Major Takeaways
- USCrude: Yesterday, oil hit the first target set for the long trades opened at the support A at 99.56–99.00. The second target is the 105.02 level.
- XAUUSD: Yesterday, gold reached its first bullish target of 4,674.
- EURUSD: The euro continues its short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, crude oil extended its short-term uptrend, reaching the first bullish target at the March 31 high. Moreover, the price pierced the Target Zone at 102.02–100.38. After that, a correction started, and the asset tested the support A at 99.55–99.00.
Commodity markets are closed today for Good Friday, so today’s trading ideas can be used on Monday.
Since the oil price reached the first bullish target of 102.01 yesterday, consider holding some of the long trades until the asset hits the second target of 105.02. If the price grows even higher, it may climb to the Gold Zone of 106.40–105.85.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support A at 99.55–99.00. TakeProfit: 105.02. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold pulled back, reaching the support B of 4,570–4,547. Bulls managed to defend this zone. As a result, the price hit the first bullish target of 4,674. The next target is the 4,800 level.
Since today is Good Friday, trading in the gold market is closed. Therefore, you can use the trading ideas from today’s review on Monday.
Consider holding a portion of long trades, targeting the 4,800 level. If the gold price breaks above this level, it may test the Gold Zone at 4,832–4,814. If the metal climbs even higher, it may touch the Target Zone 2 at 4,972–4,941.
An alternative scenario suggests the price may break below the key support level. In this case, the short-term trend will turn bearish, and short trades can be considered with a target in the Target Zone 4,340–4,294.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support B at 4,570–4,547. TakeProfit: 4,800. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued its short-term downtrend, approaching the first bearish target of 1.1500. Consequently, one may hold short trades opened at the resistance B at the breakeven point. If the asset breaks below the 1.1500 level, the next target will be the Gold Zone 2 at 1.1423–1.1412.
If the EURUSD pair increases and pierces the resistance B at 1.1589–1.1572, the short-term trend will turn bullish. In this case, consider long trades on the next trading day with a target in the upper Target Zone of 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B at 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1631.
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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