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 prices declined to the support A of 4,907–4,886 yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: oil has reached the key support of the short-term uptrend at 62.43–62.11.
- XAUUSD: gold is trying to rebound from the support A of 4,907–4,886.
- EURUSD: The euro is trading in a short-term downtrend and is testing the 1.1854 level.
Oil Price Forecast for Today: USCrude Analysis
The oil price has dropped to the key support of the short-term uptrend at 62.43–62.11. If bulls manage to hold the asset above this zone, long trades can be considered with the first target at 63.87 and the second one at 65.63.
If the price breaks below the support B of 62.43–62.11, the trend will turn bearish. In this case, consider short trades with the target in the lower Target Zone of 59.24–58.60.
USCrude Trading Ideas for Today:
Buy near support B of 62.43–62.11. TakeProfit: 63.87, 65.63. StopLoss: 61.40.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price slid to the support A of 4,907–4,886 during a correction. Bulls managed to keep the asset above this zone. Today, the price has climbed to the first bullish target of 5,003 but has not yet reached it.
Consider holding the long trades initiated at the support A open today. Part of these trades can be shifted to the breakeven level. If the price falls to the support zone, consider new long trades according to the pattern.
If gold breaks below the support A today, the correction will extend to the support B of 4,801–4,769, the trend boundary. In this case, consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Hold long trades opened at support A of 4,907–4,886. TakeProfit: 5,003, 5,119. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price is trading in a short-term downtrend. On February 11, the asset reached the first bearish target. The second target is 1.1765. Therefore, consider shifting part of the short trades opened at the resistance B of 1.1943–1.1927 to the breakeven level.
If the EURUSD pair breaks above the resistance B, the short-term trend will change to an upward one. In this case, consider long positions with the main target in the upper Target Zone of 1.2100–1.2089.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B of 1.1943–1.1927. TakeProfit: 1.1765. StopLoss: at breakeven.
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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