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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.
The euro’s short-term bearish trend continued yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, market participants tried to break out support (A) 84.36 – 84.09 again, but their attempt failed. The price remained above this area, and the short-term uptrend continued. As a result, consider looking for entry points into long trades according to the pattern with the target at the April 5 high. If the price consolidates above the April 5 high, the next upside target will be within Target Zone 2, 88.61 – 87.95.
Selling is possible if the price settles below yesterday’s low. In this scenario, the price will likely correct to the trend boundary 82.99 – 82.58.
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
Gold is correcting within a short-term uptrend. Yesterday, the price tested support (A) 2318 – 2313. Bulls managed to keep the price above this area, so today, it is possible to open long trades with the target at the April 9 high. Long trades can be opened once the price forms a reversal pattern on the chart.
The trend boundary has moved to 2294 – 2287. From this area, it will also be possible to consider purchases.
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
The euro’s short-term bearish trend continued yesterday. The pair fell from the trend line 1.0863 – 1.0850 to the Target Zone 1.0729 – 1.0704. Today, market participants may try to breach the Target Zone. If they succeed, the next bearish target will be within the Gold Zone 1.0645 – 1.0636. If bulls manage to hold the price above the Target Zone, consider opening trades on corrections.
At the same time, entry points into short trades have shifted to resistance 1.0819 – 1.0810.
EURUSD trading ideas for today:
Watch the market.
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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.
