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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 is trading in correction to the short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term uptrend continued yesterday. As a result, traders updated March 6 high and approached the upper Target Zone 82.34 – 81.35. Today expect continued growth and the price reaching the TZ.
It is profitable to consider new purchases during a correction in strong support levels, support (A) 77.74 – 77.41 and support (B) 76.09 – 75.59. If during trading yesterday’s high is updated, then it will be necessary to rearrange the support zones following the price.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 77.74 – 77.41. TakeProfit: 80.97. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 76.09 – 75.59. TakeProfit: 80.97. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trying to continue its short-term uptrend with a growth target around March 8 high. However, there is no buy pattern at the moment, so watch the market for now. If the price corrects downward, consider purchases after the false breakout of March 12 low.
If this low is broken out and the price consolidates lower, the correction will continue with the target in support (B) 2129 – 2122. This zone serves as the trend border. It is also profitable to consider purchases there.
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 is trading in correction to the short-term uptrend. Yesterday, traders reached support (A) 1.0897 – 1.0888. Today, they are trying to break out this zone. If the fall continues, the price will reach support (B) 1.0855 – 1.0842. After testing this support, wait for a buy pattern to form and open long trades according to the pattern with a target in the Target Zone 1.0972 – 1.0946.
The euro may begin to rise from current prices and return to support (A). In this case, expect the formation of a buy pattern near support (A) and buy euro with a target in the Target Zone.
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.
