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.
Yesterday, the euro price fell below the resistance B at 1.1589–1.1572.
The article covers the following subjects:
Major Takeaways
- USCrude: The oil price is rising and approaching the resistance B at 92.99–92.17.
- XAUUSD: The price of gold pulled back and tested the support A at 4,423–4,405.
- EURUSD: The euro failed to settle above the resistance B at 1.1589–1.1572.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price declined below the March 24 low but failed to reach the second target of 83.97. Ultimately, the asset reversed upward during the US trading session and continues to grow today, approaching the resistance B at 92.99–92.17, the boundary of the short-term downtrend. If the price remains below this zone, short trades can be considered.
If oil breaks above the resistance B today, the trend will turn bullish. In this case, consider long trades on the next trading day with a target in the upper Target Zone of 102.02–100.38.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, the gold price entered a correction phase. So, today, the metal declined to the support A at 4,423–4,405. Consider long trades near this zone with the first target at 4,504 and the second one at 4,602. If the price climbs even higher, the next bullish target will be the Target Zone at 4,689–4,635.
Should the gold price break below the support A today, the correction will continue to the support B at 4,334–4,307, the trend boundary. Consider long trades near this zone with a primary target at 4,602.
XAUUSD Trading Ideas for Today:
Buy near support A at 4,423–4,405. TakeProfit: 4,504, 4,602. StopLoss: 4,358.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro price returned below the resistance B at 1.1589–1.1572, maintaining its short-term downtrend. Therefore, consider short trades today with the first target at 1.1500 and the second one at 1.1410. The trades are best opened either at current prices or when the resistance B is retested.
If the EURUSD pair pierces the resistance B and closes above 1.1589 today, the short-term downtrend will change to an upward one. In this case, long trades can be considered with a target in the upper Target Zone of 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Sell near resistance B at 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1617.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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