Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Oil extended its short-term uptrend yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is rising and approaching the second bullish target set for the trades opened at the support B of 62.43–62.11.
- XAUUSD: Gold has reached the first target set for the long trades opened at the support A of 4,907–4,886.
- EURUSD: The euro is falling toward the target of 1.1765.
Oil Price Forecast for Today: USCrude Analysis
Oil prices continued to trend higher yesterday. As a result, the asset reached the first bullish target of 63.87. The next target is 65.63. If the price consolidates above 65.63, it may climb to the upper Target Zone of 67.88–67.24.
The key support zone is located at 62.43–62.11. As long as the US Crude price is trading above this zone, one may consider long trades. If the asset exceeds the February 11 high, the key support zone should be shifted.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support B of 62.43–62.11. TakeProfit: 65.62. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold remained above the support A of 4,907–4,886 within a short-term uptrend. Consequently, the price began to rise and reached the first target of 5,002. The second bullish target is 5,119. If the gold price settles above this level, the next target will be the Gold Zone of 5,271–5,249.
If the metal drops and breaks below the support A, the correction will continue to the support B of 4,801–4,769. This zone is the trend boundary. Therefore, consider long trades near it.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened at support A of 4,907–4,886. TakeProfit: 5,119. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro price keeps sliding in a short-term downtrend. The asset is nearing the second bearish target of 1.1765. Once the price reaches this level, it may try to pierce the lower Target Zone of 1.1758–1.1725. If so, the next bearish target will be the Gold Zone of 1.1650–1.1639.
If bulls hold the price above the Target Zone, an upside correction may begin. In this case, new resistance levels should be identified. Consider short trades near these zones.
EURUSD Trading Ideas for Today:
Hold part of short trades opened at resistance B of 1.1943–1.1927. TakeProfit: 1.1765. StopLoss: at breakeven.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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 broker. 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 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
Feed from Litefinance.com