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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.
EURUSD bulls are trying to breach short-term downtrend’s key resistance.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is approaching support (A) 84.36 – 84.09 for the second time. The short-term trend remains bullish. Therefore, after support (A) is tested and a bullish pattern is formed, one may consider opening long trades with a target at the April 5 high. If the price settles above this high, the uptrend may continue to the Target Zone 2, 88.61 – 87.95.
If support (A) is violated from above during the trading session, the correction will likely continue to support (B) 82.99 – 82.58. After testing this support, consider buying the instrument with the target at the April 5 high.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 84.36 – 84.09. TakeProfit: 87.05. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 82.99 – 82.58. TakeProfit: 87.05. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
After approaching the Target Zone 4, 2376 – 2367, gold started a correction yesterday. If the correction continues today, expect a test of support (A) 2318 – 2313. After testing support (A), open long trades within the short-term uptrend. The bullish target is yesterday’s high.
The trend’s key support is located at 2294 – 2287. If the price reaches this area today, it may form a reversal pattern and allow traders to buy the precious metal.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 2318 – 2313. TakeProfit: 2364. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 2294 – 2287. TakeProfit: 2364. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
EUR/USD bulls are attempting to breach key resistance of the short-term downtrend at 1.0863 – 1.0850. However, bears managed to return the price to this area yesterday. As a result, the pair may decline and form a bearish pattern today. Once the pattern is formed, open short trades with the target at the April 2 low.
If bulls manage to break through the zone of 1.0863 – 1.0850 today, the short-term trend will turn up. It will be possible to buy the euro with a target in the upper Target Zone 1.1001-1.0976 tomorrow.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (В) 1.0863 – 1.0850. TakeProfit: 1.0795, 1.0725. StopLoss: according to the pattern rules.
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Price chart of EURUSD 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.
