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.
The euro continued to rise yesterday.
The article covers the following subjects:
Major Takeaways
- USCrude: Yesterday, oil reached the first bearish target set for the trades opened at the resistance A of 95.00–94.18.
- XAUUSD: Gold has hit the first bullish target set for the trades opened at the support A of 4,704–4,689.
- EURUSD: The euro has approached the upper Target Zone of 1.1767–1.1734.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price climbed to the resistance B at 95.00–94.18 during a correction. However, bears managed to keep the asset below this zone. As a result, the price began to decline and reached the first sell target at 90.48. The second target is at 85.97.
Now, the oil price is rising again. If the asset breaks above the resistance B today, the trend will turn bullish. In this case, consider long trades on the next trading day, with a target in the upper Target Zone of 104.02–102.38.
USCrude Trading Ideas for Today:
Hold part of short trades opened at resistance B at 95.00–94.18. TakeProfit: 85.97. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold extended its short-term uptrend yesterday, reaching the first bullish target of 4,774. The next target is the April 8 high around 4,858. If the metal breaches this level, it may rally toward the Target Zone of 4,972–4,941.
If the gold price drops below the support A of 4,704–4,689, it may slide to the trend boundary at 4,628–4,605. Consider long trades near this zone, with the primary target at 4,858.
XAUUSD Trading Ideas for Today:
Hold part of long trades opened near support A at 4,704–4,689. TakeProfit: 4,858. StopLoss: at breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro continued to gain, approaching the upper Target Zone of 1.1767–1.1734. Today, a downward correction started. If the correction continues, the price may test the support zone A at 1.1615–1.1604. Once it is tested, consider long trades with the first target at 1.1664 and the second one around 1.1723.
If the EURUSD pair breaks above the Target Zone today, the next bullish target will be the Gold Zone of 1.1853–1.1842.
EURUSD Trading Ideas for Today:
Buy near support A at 1.1615–1.1604. TakeProfit: 1.1664, 1.1723. StopLoss: 1.1577.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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