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.
Oil extended its short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price has penetrated the Gold Zone of 94.09–93.64 and is rising toward the Target Zone 2 of 99.00–98.10.
- XAUUSD: Gold is testing the support B of 5,101–5,069 again.
- EURUSD: The euro has reached all its bearish targets for the trades opened at the resistance B of 1.1685–1.1669.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued its short-term uptrend, reaching all bullish targets for the trades opened at the support A of 90.19–89.75. Moreover, the price settled above the Gold Zone of 94.09–93.64. The next bullish target is the Target Zone 2 of 99.00–98.10.
Long trades can be considered during a correction at the strong support A of 92.24–91.79 and support B of 90.01–89.34, with the target at today’s high.
USCrude Trading Ideas for Today:
Buy near support A of 92.24–91.79. TakeProfit: 94.26, 96.70. StopLoss: 90.63.
Gold Forecast for Today: XAUUSD Analysis
Gold has once again declined to the support B of 5,101–5,069, the boundary of the short-term uptrend. Consider closing any long positions opened at the support B if you have not already done so.
Observe the price behavior near the support B today. If the asset remains above this zone and a buy signal appears, consider long trades with the first target at 5,244.
If the metal breaks below this zone and closes lower in the US trading session, the short-term trend will turn bearish. In this case, consider short trades on the next trading day with a target in the lower Target Zone of 4,783–4,719.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. Today, the price reached the second bearish target for the trades opened at the resistance A of 1.1594–1.1583. This target was the March 9 low. After that, the euro pierced the lower Target Zone 2 of 1.1531–1.1509. Consequently, the next bearish target is the Gold Zone 2 of 1.1423–1.1412.
Short trades can be considered during a correction at the strong resistance A of 1.1594–1.1583 once a bearish pattern appears. The first bearish target will be at 1.1533, and the second one will be at today’s low.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1594–1.1583. TakeProfit: 1.1533, 1.1473. StopLoss: 1.1620.
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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