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I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Gold remains in a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil continues to trade in a short-term bullish trend. Today is a good time to open long trades with the target at the April 12 high. If the price increases above the April 12 high, the next upside target will be the Target Zone 2, 88.61 – 87.95.
Purchases can be made near support (A) 83.71 – 83.38. If this support is breached, the next support (B) 82.06 – 81.57 can be considered for purchases.
USCrude trading ideas for today:
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Buy according to the pattern at support (A) 83.71 – 83.38. TakeProfit: 86.95. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 82.06 – 81.57. TakeProfit: 86.95. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold remains in a short-term downtrend. Yesterday, the price tested key resistance 2401 – 2394. Bears managed to keep the price below this area. Today, consider selling the precious metal with the target at the April 15 low.
If gold breaks out resistance (B) 2401 – 2394 during the trading session and consolidates above it, the short-term downtrend will likely reverse. In this case, consider buying gold with the target within the upper Target Zone 2479 – 2465 in the next trading session.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance 2401 – 2394. TakeProfit: 2326. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trading in a short-term bearish trend. Yesterday, the pair broke through the Gold Zone 1.0645 – 1.0636 and consolidated below it. The next selling target is within the Target Zone 2 1.0561 – 1.0544. Consider opening short trades on corrections from strong resistance (A) 1.0693 – 1.0685 and resistance (B) 1.0739 – 1.0727. Yesterday’s low will be the first selling target.
The resistance levels should be shifted if the price declines below yesterday’s low during today’s trading.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0693 – 1.0685. TakeProfit: 1.0603. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (В) 1.0739 – 1.0727. TakeProfit: 1.0603. StopLoss: according to the pattern rules.
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Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
