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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’s short-term trend turned bearish.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price corrected again to support (A) 84.36 – 84.09. Support (A) is not broken through, so consider new purchases within the short-term uptrend. The bullish target will be at the April 5 high. If the price reaches above this high, the next target will be the Target Zone 88.61 – 87.95.
If the downward correction continues today, support (A) may be breached. In this case, the price will likely reach support (B) 82.99 – 82.58, where long trades can also be considered.
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’s short-term trend has turned bearish. Last week, the key support of the previous trend 2360 – 2353 was broken through. Now, consider selling gold on a correction from strong resistance levels: resistance (A) 2385 – 2380 and resistance (B) 2411 – 2404. Last Friday’s low will be the first selling target.
If the price consolidates below last Friday’s low, the next selling target will be the lower Target Zone 2290 – 2276.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistence (А) 2385 – 2380. TakeProfit: 2336. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistence (В) 2411 – 2404. TakeProfit: 2336. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro’s short-term downtrend continued last week. As a result, the pair broke through the Target Zone 1.0729 – 1.0704 and reached the Gold Zone 1.0645 – 1.0636. At the moment, the Gold Zone has not been breached, so the price is unlikely to decline lower.
An upward correction began today. If the correction continues, we can expect a test of resistance (A) 1.0714 – 1.0706. After the test of this area, consider selling the precious metal according to the pattern again, with the target at last Friday’s low.
EURUSD trading ideas for today:
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Sell according to the pattern at resistence (А) 1.0714 – 1.0706. TakeProfit: 1.0626. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistence (В) 1.0761 – 1.0748. TakeProfit: 1.0626. 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.
