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 continues to pull back.
The article covers the following subjects:
Major Takeaways
- USCrude: Consider selling oil at the resistance B of 87.76–86.95.
- XAUUSD: Gold is falling toward the support A at 4,721–4,704.
- EURUSD: The euro price has reached the first bullish target of 1.1790.
Oil Price Forecast for Today: USCrude Analysis
The oil price is retreating from the resistance B of 87.76–86.95. The first bearish target is the 83.31 level. If bears manage to keep the price below this level, the next target will be the April 17 low of 78.86.
An alternative scenario suggests that the price may break through the resistance B. In this case, the short-term trend will switch to an upward one. Consequently, one may consider long trades with a target in the upper Target Zone of 96.66–95.04.
USCrude Trading Ideas for Today:
Hold short trades opened at resistance B of 87.76–86.95. TakeProfit: 83.31, 78.86. StopLoss: 89.62.
Gold Forecast for Today: XAUUSD Analysis
Gold is undergoing a correction within a short-term uptrend, likely targeting the support A at 4,721–4,704. Once this zone is tested, consider long trades with the first target at 4,798 and the second one around 4,891.
If the gold price breaks below the support A today, the correction will continue to the trend boundary at 4,636–4,610.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,721–4,704. TakeProfit: 4,798, 4,891. StopLoss: 4,662.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continued to climb yesterday, reaching the first buy target around 1.1790. The next target is at 1.1849. At this mark, the price may either extend its rally or pull back to retest the support A at 1.1741–1.1730. Once the support A is tested, long trades can be considered with the same targets.
A breakout below the support A will lead to a decline toward the support B at 1.1687–1.1670, the trend boundary.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1741–1.1730. TakeProfit: 1.1790, 1.1849. StopLoss: 1.1703.
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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