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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 growing with a target around February 22 high.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Last Friday, oil updated its February 28 high. As a result, the price approached the Target Zone of 82.34 – 81.35. At the moment, the price is correcting downwards. If the correction continues, expect quotes in the support (A) 77.01 – 76.68. After testing this support, consider new purchases with a target at March 1 high.
The trend’s key support is moving to the zone of 75.36 – 74.87. If the price reaches it, then also consider long trades.
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 gold trend reversed up last week. The price broke out the resistance (A) 2052 – 2046. Now, the main target for purchases is the upper Target Zone 2121 – 2108. Strong support levels are located in the zones of 2046 – 2042 and 2026 – 2019. If the price corrects to these zones, it will be possible to consider purchases according to the pattern, with the first target at March 1 high.
To enter sales and reverse the trend, traders need to break out level 2019 down and consolidate the price below.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 2046 – 2042. TakeProfit: 2087. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 2026 – 2019. TakeProfit: 2087. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is growing with a target around February 22 high. If this high is broken out and buyers are able to consolidate the price higher, the next target for purchases will be the Target Zone 1.0972 – 1.0946. It is profitable to hold purchases in the support of 1.0804 – 1.0796. It will be possible to place a take profit in the zone around February 27 high.
The trend’s key support is in the zone of 1.0762 – 1.0749. If the price falls, expect the euro to be in the key support zone. After that, it is possible to consider new purchases.
EURUSD trading ideas for today:
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Hold purchases at support (А) 1.0804 – 1.0796. TakeProfit: 1.0885. StopLoss: at the breakeven.
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Buy according to the pattern at support (В) 1.0762 – 1.0749. TakeProfit: 1.0885. 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.
