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.
Last Friday, the euro broke out the short-term uptrend's key support.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price is correcting downwards against the short-term uptrend. A possible correction target is support (A) 79.73 - 79.40. After reaching this zone, consider new purchases with a target at March 19 high. If this high is updated, the next growth target will be the Gold Zone 84.98 - 84.65.
If, during trading, support (A) is broken out downside, the price will drop to support (B) 78.08 - 77.59. This zone serves as the trend border. After the price reaches it, also consider purchases.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 79.73 - 79.40. TakeProfit: 82.97. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 78.08 - 77.59. TakeProfit: 82.97. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Last week, as part of a correction to a short-term uptrend, the price reached support (B) 2156 - 2149. The zone was held by buyers, as a result, today the price is rising. If the growth continues and a buy pattern is formed, then open long trades with the target at March 21 high.
When support (B) is broken out downside, the trend will reverse down. In this case, from the next trading day, consider sales with the main target in the Target Zone 2090 - 2077.
XAUUSD trading ideas for today:
Buy according to the pattern at support (В) 2156 - 2149. TakeProfit: 2220. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Last Friday, the euro broke out the key support of the short-term uptrend 1.0855 - 1.0842. Consequently, the trend reversed down. Starting today, look for sales during the correction. Favorable selling prices will be in the resistance (A) 1.0894 - 1.0885. The first sales target will be today's low. If the price consolidates lower, the next target will be the Target Zone 1.0729 - 1.0704.
The new trend's border is shifting to the zone of 1.0940 - 1.0927. If the price reaches this zone, then traders can also consider sales there.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1.0894 - 1.0885. TakeProfit: 1.0803. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 1.0940 - 1.0927. TakeProfit: 1.0803. StopLoss: according to the pattern rules.
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Price chart of EURUSD 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.
