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.
The euro remains in a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil attempted to break through support (B) 82.06 – 81.57, but bulls managed to keep the price above this area. Today, it is possible to consider long trades within the short-term uptrend with the target at the April 12 high. If the price exceeds this high, the next bullish target will be within the Target Zone 2, 88.61 – 87.95.
If oil breaches support (B) from above today and closes lower in the US session, the current short-term trend will turn down. In this case, consider short trades with the target within the lower Target Zone 77.11 – 76.12.
USCrude trading ideas for today:
Buy according to the pattern at support (B) 82.06 – 81.57. TakeProfit: 86.91. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is falling within a short-term downtrend. Today, the precious metal pierced the April 15 low, consolidating below this level. Therefore, the next selling target is the lower Target Zone 2281 – 2266.
New sales can be considered during corrections from resistance (A) 2350 – 2345 and resistance (B) 2377 – 2370. Today’s low will be the first bearish target.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 2350 – 2345. TakeProfit: 2297. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 2377 – 2370. TakeProfit: 2297. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro remains in a short-term downtrend. The downside target is the April 16 low. If the price consolidates below this level, the next selling target will be the Target Zone 2, 1.0561 – 1.0544. Thus, consider selling the euro from resistance (A) 1.0693 – 1.0685.
The bearish scenario will be canceled if the price settles above the April 18 high. In this case, the upward correction will continue to resistance (B) 1.0739 – 1.0727. After testing this zone, it will be possible to open short trades again, as the zone 1.0739 – 1.0727 offers the trend boundary.
EURUSD trading ideas for today:
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Hold up sales at resistance (A) 1.0693 – 1.0685. TakeProfit: 1.0603. StopLoss: 1.0692.
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Sell according to the pattern at resistence (В) 1.0739 – 1.0727. TakeProfit: 1.0603. 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.