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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.
Yesterday, oil continued its short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The short-term uptrend in oil continued yesterday, breaking the Gold Zone 84.98 – 84.65. The next buying target is the Target Zone 88.61 – 87.95. Consider buying oil on corrections from strong support levels. Currently, the strong support levels are support (A) 83.41 – 83.08 and support (B) 81.76 – 81.27. The first bullish target is located at yesterday’s high.
USCrude trading ideas for today:
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Buy according to the pattern at support (А) 83.41 – 83.08. TakeProfit: 86.61. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 81.76 – 81.27. TakeProfit: 86.61. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is declining within a correction to the short-term uptrend. The downside target is the support (A) 2261 – 2257. Once the price reaches this area, one can consider purchases with the target at yesterday’s high. If gold goes above this level, it may continue to soar with the target in the Gold Zone 2328 – 2323.
If the precious metal breaks out support (A), the correction will likely continue to support (B) 2239 – 2233. This zone marks the border of the trend. If the price follows this scenario, you may also open long trades at this level.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 2261 – 2257. TakeProfit: 2304. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 2239 – 2233. TakeProfit: 2304. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the euro tested the border of the short-term downtrend at 1.0863 – 1.0850. Bears managed to keep the price within the zone, so today, one may sell the instrument with a target at the April 2 low.
Today, if the pair reaches a new high on the news and the price consolidates above this level, the short-term trend will likely turn up. On Monday, traders may consider long trades with a target at the upper Target Zone 1.1001 – 1.0976.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (В) 1.0863 – 1.0850. TakeProfit: 1.0729. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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.
