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 tried to rise after hitting the support (A) 61.68 – 61.38.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has reached its first bullish target near 63.04.
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XAUUSD: gold is falling within a short-term downtrend.
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EURUSD: the euro is testing the short-term uptrend’s key support 1.1369 – 1.1349.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil attempted to grow after hitting the support (A) 61.68 – 61.38 within a short-term uptrend. As a result, the asset has reached the first bullish target near 63.04. If the price breaks through this level today, the next bullish target will be 64.69.
If oil fails to breach the 63.04 level, the downward correction will likely continue, and the price may test the support (A) again.
USCrude Trading Ideas for Today:
Hold up long trades opened at support (A) 61.68 – 61.38. TakeProfit: 64.69. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term downtrend. The price has failed to test the key resistance 3383 – 3372 today and has started to decline. As a result, the quotes have approached the lower Target Zone 3274 – 3252. If the asset manages to settle below the Target Zone, the price may continue sliding to the Gold Zone 3199 – 3192.
If an upward correction starts again from the current prices, the quotes may soar to the short-term downtrend’s key resistance. Once this zone is reached, consider short trades.
XAUUSD Trading Ideas for Today:
Sell near resistance (B) 3383 – 3372. TakeProfit: 3321, 3259. StopLoss: 3406.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade near the short-term uptrend’s key support 1.1369 – 1.1349. In this connection, consider long trades with the first target of 1.1461 and the second one near the April 21 high. The price should break through and consolidate above yesterday’s high to create buying opportunities.
If the price pierces the support (B) 1.1369 – 1.1349 from above, the short-term uptrend will reverse. In this case, consider short trades tomorrow with a target in the lower Target Zone 1.1165 – 1.1124.
EURUSD Trading Ideas for Today:
Watch the market.
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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