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 continues to trade within a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is pulling back and approaching the support A at 95.22–94.68.
- XAUUSD: Gold is rising, targeting the March 25 high at 4,602.
- EURUSD: The euro is falling, reaching its first bearish target at 1.1500.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continue to increase. Last Friday, the asset broke above the resistance 92.99–92.17 and started an uptrend. Today, the oil price reached the upper Target Zone at 102.02–100.38. If the asset pierces this zone, the next bullish target will be the Gold Zone at 106.40–105.85. If not, a bearish correction may start.
During the correction, the price may decline to the support A at 95.22–94.68. Once this zone is tested, consider long trades with the first target at 97.69 and the second one at 100.70.
USCrude Trading Ideas for Today:
Buy near support A at 95.22–94.68. TakeProfit: 97.69, 100.70. StopLoss: 93.20.
Gold Forecast for Today: XAUUSD Analysis
Gold is still trading within a short-term uptrend. The bullish target is at 4,602. If the price breaks above this level, the next target will be the upper Target Zone at 4,689–4,635. Should the metal climb even higher, it may touch the Gold Zone at 4,832–4,814.
The key support remains in the 4,372–4,349 range. If the gold price breaks below this zone, the trend will turn bearish. In this case, consider short trades with a target in the lower Target Zone of 4,143–4,097.
XAUUSD Trading Ideas for Today:
Hold part of longs opened at support B 4,372–4,349. TakeProfit: 4,602. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is dropping within a short-term downtrend. Today, the price hit the first bearish target at 1.1500. If the euro breaks below this level, the next target will be 1.1410. Therefore, consider holding part of short trades at breakeven.
If the EURUSD pair climbs and breaks above the resistance B at 1.1589–1.1572, the short-term trend will turn bullish. In this case, consider long trades on the next trading day, targeting the upper Target Zone of 1.1767–1.1734.
EURUSD Trading Ideas for Today:
Hold part of shorts opened at resistance B at 1.1589–1.1572. TakeProfit: 1.1410. 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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