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 prices remain highly volatile.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is testing the support A of 82.68–82.23.
- XAUUSD: Gold is rising toward the first bullish target of 5,244.
- EURUSD: The euro approached the resistance B of 1.1685–1.1669 yesterday.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil tested the support A of 84.55–84.10 and declined below the March 9 low. Afterward, buyers returned, and the short-term trend turned bullish again. As a result, the asset broke through the resistance of 83.16–82.49.
After that, the price started to decline in a correction and tested the support A of 82.68–82.23. Bulls are holding the asset above this zone. Therefore, long trades can be considered with the first target at 84.68 and the second one at today’s high. If the oil price breaks below the 79.78 level, the trend will turn bearish, creating selling opportunities.
USCrude Trading Ideas for Today:
Buy near support A of 82.68–82.23. TakeProfit: 84.68, 87.14. StopLoss: 81.06.
Gold Forecast for Today: XAUUSD Analysis
The gold price continues to trade in a short-term uptrend and is approaching the first bullish target of 5,244. The next target is at 5,419. Therefore, today consider holding the long trades initiated at the support B of 5,101–5,069.
If gold begins to fall and breaks below the support B today, the short-term trend will change to a downward one. In this case, consider short trades with the main target in the lower Target Zone of 4,783–4,719.
XAUUSD Trading Ideas for Today:
Hold long trades opened at support B of 5,101–5,069. TakeProfit: 5,244, 5,419. StopLoss: 5,075.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a correction within the short-term downtrend. Yesterday, the price pierced the resistance A of 1.1626–1.1615 and neared the resistance B of 1.1685–1.1669, the trend boundary. Therefore, yesterday, traders had an opportunity to open short positions near it with the first target at 1.1596 and the second one at 1.1507.
If the EURUSD pair breaks above the resistance B today, the short-term trend will turn bullish. In this case, one may consider long trades, targeting the upper Target Zone of 1.1863–1.1831.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B of 1.1685–1.1669. TakeProfit: 1.1596, 1.1507. StopLoss: 1.1712.
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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