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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 corrected upwards in a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil broke through support (A) 83.71 – 83.38 and reached support (B) 82.06 – 81.57. Support (B) is the border of the short-term uptrend. Today, market participants are trying to breach this zone from above. If it is broken through, the trend will turn bearish, and the lower Target Zone 77.11 – 76.12 will become the selling target.
If bulls manage to hold the price above support (B), consider long trades with the target at the April 12 high, waiting for a reversal pattern to form.
USCrude trading ideas for today:
Buy according to the pattern at support (B) 82.06 – 81.57. TakeProfit: 86.95. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in a short-term downtrend. The price is testing the resistance area 2401 – 2394. Bears are trying to push the price below this area, so consider selling from this area with the target at the April 15 low. If the price settles below the April 15 low, the next selling target will be the Target Zone 2290 – 2276.
To consider buying the instrument, the trend should reverse up. This would require bulls to break through key resistance 2401 and consolidate above this level. If this scenario unfolds, the upper Target Zone 2479 – 2465 will become the buying target.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance 2401 – 2394. TakeProfit: 2326. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is correcting upward in a short-term downtrend. The price reached resistance (A) 1.0693 – 1.0685 within the correction. This zone has not been breached, so consider selling the euro with the target at the April 16 low. If the pair drops below this low, the next selling target will be Target Zone 2, 1.0561 – 1.0544.
If resistance (A) is broken from below during the trading session, the correction will continue to resistance (B) 1.0739 – 1.0727. Resistance (B) is the trend’s border, so consider selling the euro with the same targets.
EURUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 1.0693 – 1.0685. TakeProfit: 1.0603. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 1.0739 – 1.0727. TakeProfit: 1.0603. 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.
