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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 continues to maintain a short-term uptrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Today, bulls are pushing the oil price higher within the short-term uptrend. The bullish target is the April 5 high. If the price consolidates above this high, the next target will be the Target Zone 2, 88.61 – 87.95.
The uptrend has started from support (A) 84.36 – 84.09, which offers a strong support level. If the price breaks through this support, consider selling USCrude with a target at support (B) 82.99 – 82.58.
USCrude trading ideas for today:
Hold up purchases at support (А) 84.36 – 84.09. TakeProfit: 87.05. StopLoss: at the breakeven.
Gold forecast for today: XAUUSD analysis
Gold continues to trade in a short-term uptrend. The nearest upside target is yesterday’s high. If the price consolidates above this level, the next target will be the Target Zone 4, 2376 – 2367.
In this regard, consider new purchases on corrections from strong support levels. These are the following zones: support (A) 2306 – 2302 and support (B) 2283 – 2276.
XAUUSD trading ideas for today:
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Buy according to the pattern at support (А) 2306 – 2302. TakeProfit: 2352. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (В) 2283 – 2276. TakeProfit: 2352. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is trying to pierce resistance (B) 1.0863 – 1.0850. If this level is breached, the short-term trend will change to bullish. Following this scenario, starting tomorrow, consider buying the instrument with the target at the upper Target Zone 1.1001 – 1.0976.
If bears manage to keep the price below resistance (B) and a selling pattern is formed, open a short trade with the first target at the April 5 low. If the price settles below the April 5 low, the next bearish target will be the April 2 low.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (В) 1.0863 – 1.0850. TakeProfit: 1.0795, 1.0725. 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.
