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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 continues to trade in a short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil quotes today tested support (A) 77.01 – 76.68. The short-term trend is up. Hence, traders may consider new purchases with a target at March 1 high in the beforementioned support. If March 1 high is updated, the next growth target will be the upper Target Zone 82.34 – 81.35.
If support (A) is broken out downside, the correction will continue down to support (B) 75.36 – 74.87. It is also possible to consider long trades at support B as it serves as a trend border.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 77.01 – 76.68. TakeProfit: 80.28. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 75.36 – 74.87. TakeProfit: 80.28. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The short-term uptrend continued last week. As a result, the price broke out the Gold Zone 2154 – 2150 and reached the Target Zone 2, 2200 – 2191. Traders were unable to break out the TZ. If a correction develops, expect the price in the support (A) 2151 – 2146. After testing this zone, consider new purchases with a target at March 8 high. The trend border is shifting to the zone of 2129 – 2122.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 2151 – 2146. TakeProfit: 2193. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 2129 – 2122. TakeProfit: 2193. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro continues to trade in a short-term uptrend. Last Friday, traders reached the Target Zone of 1.0972 – 1.0946 but did not break it out. As a result, the price at the American trading session on Friday closed below this resistance. If the resistance holds, the price will go into a downward correction. The target of the correction will be support (A) 1.0897 – 1.0888 and support (B) 1.0855 – 1.0842.
It will be profitable to consider purchases after the correction begins at strong support levels. The target for purchases will be last Friday’s high.
EURUSD trading ideas for today:
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Buy according to the pattern at support (А) 1.0897 – 1.0888. TakeProfit: 1.0979. StopLoss: at the breakeven.
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Buy according to the pattern at support (В) 1.0855 – 1.0842. TakeProfit: 1.0979. 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.
