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 continues to grow.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil reached the first bullish target of 103.40 after testing the support A at 100.92–100.38.
- XAUUSD: Gold is trading in an uptrend, targeting the April 2 high.
- EURUSD: The euro remains under short-term bearish pressure.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price pulled back to the support A at 100.92–100.38. However, buyers managed to defend this zone. As a result, the price began to rise, reaching the first bullish target of 103.40. Today, the short-term uptrend continues. The second target is yesterday’s high in the Gold Zone of 106.40–105.85.
If the asset breaks above the Gold Zone, the next bullish target will be the Target Zone 2 at 112.41–111.32. Should bears keep the oil price below this zone, a new correction may start.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support A at 100.92–100.38. TakeProfit: 106.17. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold keeps trading in a short-term uptrend. The second bullish target set for the trades opened at the support B at 4,570–4,547 is the 4,800 level. If the price breaches this level, the next target will be the Target Zone at 4,972–4,941.
An alternative scenario suggests that the gold price may decline and retest the support B. If bulls defend this zone again, new long trades can be considered, targeting previous levels such as 4,674 and 4,800. If the metal breaks below the support B, the short-term trend will turn bearish.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support B at 4,570–4,547. TakeProfit: 4,800. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is consolidating below the resistance B at 1.1589–1.1572. The short-term trend remains bearish. Therefore, consider holding short trades open today, targeting 1.1500 and 1.1410.
If the EURUSD pair breaks above the resistance B, the downtrend will reverse. In this case, one may consider long trades on the next trading day. The upper Target Zone of 1.1767–1.1734 will serve as the target for these positions.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B at 1.1589–1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1631.
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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