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.
The euro continues to trade within a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the support B of 99.24–98.43.
- XAUUSD: Gold continues to fall, reaching the first bearish target of 4,588.
- EURUSD: The euro is rising from the support B of 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
On Friday, the oil price continued its downward correction. As a result, the asset pierced the support zone A of 101.93–101.39 and reached the support B of 99.24–98.43, the boundary of the short-term uptrend. Long trades can be considered near this zone, with the first buy target at 102.89 and the second one at 107.32.
If the oil price closes below 98.43 today, selling opportunities will emerge.
USCrude Trading Ideas for Today:
Buy near support B at 99.24–98.43. TakeProfit: 102.89, 107.32. StopLoss: 96.42.
Gold Forecast for Today: XAUUSD Analysis
On Friday, the gold price moved up and hit resistance A at 4,666–4,651. Bears managed to hold this resistance zone. Today, the price has dropped to the first bearish target of 4,588. If the asset breaks below this level, the next target will be the April 29 low of 4,510.
If the metal settles above the resistance A, the upward correction will continue toward the resistance B of 4,743–4,722.
XAUUSD Trading Ideas for Today:
Hold part of short trades opened near resistance A at 4,666–4,651. TakeProfit: 4,510. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is maintaining its short-term uptrend. Last week, the price reached the first bullish target for the trades opened at the support B of 1.1687–1.1670. The next target is the April high of 1.1849. If the asset pierces this level, the short-term trend may extend toward the Target Zone of 2 of 1.1972–1.1950.
If the euro price declines and breaks below last week’s low, the short-term trend will turn bearish. In this scenario, consider short trades starting from the next trading day, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Hold part of long trades opened near support B at 1.1687–1.1670. TakeProfit: 1.1849. StopLoss: at breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
