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 remains in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Today, oil reached the second bullish target set for the trades opened at the support A at 99.55–99.00.
- XAUUSD: Gold is maintaining an uptrend. A bullish target is the April 2 high.
- EURUSD: The euro is approaching its first bearish target around 1.1500.
Oil Price Forecast for Today: USCrude Analysis
Today, crude oil increased at the market open and reached the second bullish target set for the trades opened at the support A at 99.55–99.00. Also, the price hit the Gold Zone at 106.40–105.85 today. After that, a downward correction began.
If the correction continues, the asset may test the support A at 100.92–100.38. Consider long trades near this zone with the first target at 103.40 and a second one at 106.39.
Should the oil price break below the support A, the correction will proceed toward the support B at 98.19–97.37.
USCrude Trading Ideas for Today:
Buy near support A at 100.92 – 100.38. TakeProfit: 103.40, 106.39. StopLoss: 98.85.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. Last week, the price reached the first bullish target of 4,674. The second target is at 4,800. If the metal surpasses this level, it will likely pierce the Gold Zone at 4,832–4,814. If so, the price may climb to the Target Zone 2 at 4,972–4,941.
If the gold price declines this week, it may retest the support B at 4,570–4,547, the boundary of the short-term uptrend. As long as the asset remains above this zone, one may consider long positions.
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
The euro is trading in a short-term downtrend. The price is approaching the 1.1500 level. If the asset settles below this mark, the next bearish target will be at 1.1410. This level is near the Gold Zone of 1.1423–1.1412. Thus, a breakout below the Gold Zone will lead to further declines. In this case, the next target will be in the Target Zone 3 at 1.1315–1.1293.
An alternative scenario suggests that the EURUSD pair may climb and break above the resistance B at 1.1589–1.1572. Under this scenario, the short-term trend will turn bullish, and the upper Target Zone of 1.1767–1.1734 will become the next bullish target.
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 XAUUSD in real time mode
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