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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 corrected to the resisance area 2401 – 2371.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil attempted to break through support (A) 84.36 – 84.09. However, the price remained above this area. The short-term uptrend remains. Today, the uptrend will likely continue with a target at the April 5 high. If the price consolidates above this high, the next target will be Target Zone 2, 88.61 – 87.95.
If the price declines below yesterday’s low, the correction will continue with the target at support (B) 82.99 – 82.58. This area offers the trend’s border. Once the price reaches it, consider buying oil according to the pattern.
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
Yesterday, gold corrected to the resistance area 2401 – 2371 and remained below this zone. Therefore, when a sell signal appears, short trades can be opened with a target at yesterday’s low. If the price pierces yesterday’s low and consolidates lower, the next bearish target will be the lower Target Zone 2290 – 2276.
The price should consolidate above 2401 to reverse the trend to the upside. In this case, consider purchases with a target within the upper Target Zone of 2479 – 2465.
XAUUSD trading ideas for today:
Sell according to the pattern at resistence 2401 – 2394. TakeProfit: 2326. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro broke through the Gold Zone 1.0645 – 1.0636, maintaining a short-term bearish trend. The next selling target is the second Target Zone 2, 1.0561 – 1.0544. Traders may consider short trades during a correction from strong resistance (A) 1.0694 – 1.0686 and resistance (B) 1.0740 – 1.0728. Selling from these areas can be possible after they are tested and a reversal pattern is formed. The first selling target will be today’s low.
EURUSD trading ideas for today:
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Sell according to the pattern at resistence (А) 1.0694 – 1.0686. TakeProfit: 1.0605. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistence (В) 1.0740 – 1.0728. TakeProfit: 1.0605. 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.
