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 extends its short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has declined to the first bearish target set for the trades opened at the resistance B at 92.99–92.17.
- XAUUSD: Gold has reached the second bullish target set for the trades initiated at the support A at 4,333–4,315.
- EURUSD: The euro is testing the EMA 190 and the resistance B at 1.1589–1.1572.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil continued to climb within a correction, reaching the resistance B at 92.99–92.17. However, sellers managed to keep the asset below this zone, so the price declined to the first bearish target of 88.47. The second target is the March 23 low of 83.97. If the oil price falls further, the next bearish target will be the Gold Zone at 79.10–78.55.
If the asset breaks above the 92.98 level, the downtrend will reverse. In this case, long trades can be considered with the main target at the March 23 high.
USCrude Trading Ideas for Today:
Hold part of short trades opened at resistance B at 92.99–92.17. TakeProfit: 83.97. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. The price has reached all the bullish targets set for the trades opened at the support A at 4,333–4,315. The next target is the upper Target Zone of 4,689–4,635. If the metal settles higher, it may rise to the Gold Zone at 4,832–4,814.
Consider long positions during a pullback at the strong support A at 4,421–4,405 once this zone is tested, and a buy pattern forms. The first target will be at 4,504 and the second one at 4,602.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,421–4,405. TakeProfit: 4,504, 4,602. StopLoss: 4,358.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is testing the resistance B at 1.1589–1.1572. If it breaks above this zone, long trades can be considered with a target in the upper Target Zone of 1.1767–1.1734.
If the EURUSD pair fails to settle above the resistance B, one may consider short trades with the first target at 1.1500 and the second one near 1.1410.
EURUSD Trading Ideas for Today:
Watch the market.
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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