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.
Oil continues to trade in a short-term downtrend today.
The article covers the following subjects:
Major Takeaways
- USCrude: oil has opened with a gap and reached all the bearish targets for the trades opened at the resistance zones 60.39 – 60.00.
- XAUUSD: gold is trading in an upward correction after breaching the Target Zone.
- EURUSD: the euro is trading in an upward correction within a short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term downtrend today. The price has plunged below last week’s low and reached the Target Zone 55.66 – 54.76, triggering an upward correction. If the correction continues today, the asset may test the resistance (A) 57.89 – 57.63. Once this zone is reached, one may consider short trades.
USCrude Trading Ideas for Today:
Sell near resistance (A) 57.89 – 57.63. TakeProfit: 56.47, 55.04. StopLoss: 58.37.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term downtrend and is approaching the resistance (A) 3284 – 3276. Once this zone is reached, consider short trades with the first target of 3242 and the second one near 3201.
If the asset breaks through the resistance (A) today, the correction will continue to the trend boundary 3325 – 3314. Once this zone is tested, consider short trades with the main target at the May 1 low.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3284 – 3276. TakeProfit: 3242, 3201. StopLoss: 3299.
Euro/Dollar Forecast for Today: EURUSD Analysis
The EURUSD pair is trading in a short-term downtrend towards the lower Target Zone 1.1165 – 1.1124. An upward correction is developing. Thus, the price may test the resistance (A) 1.1415 – 1.1401. Once this zone is tested, consider short trades with the first target of 1.1265 and the second one at last week’s low.
The trend boundary is shifting to 1.1490 – 1.1469.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1415 – 1.1401. TakeProfit: 1.1340, 1.1265. StopLoss: 1.1442.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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