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 gold price is rising gradually, approaching the Gold Zone of 5,271–5,249.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil tested the support B of 64.02–63.70 and climbed to the first bullish target of 65.46.
- XAUUSD: Gold is approaching the Monday high near the Gold Zone of 5,271–5,249.
- EURUSD: The euro is trading in correction within the short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, the oil price pierced the support A of 65.08–64.87 during a correction and touched the support B of 64.02–63.70. This zone is the boundary of the short-term uptrend. Thus, after reaching this zone, the price started to rise and hit the first bullish target of 65.46. The second target is the February 23 high of 67.21. Therefore, consider holding part of the long trades opened at the support B at the breakeven level today.
If the oil price breaks below the support B and settles below the 63.70 level, the trend will turn bearish, and short trades can be considered.
USCrude Trading Ideas for Today:
Hold part of long trades opened at support B of 64.02–63.70. TakeProfit: 67.21. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
The gold price is climbing steadily, nearing the Gold Zone of 5,271–5,249. If the asset breaks above this zone, the next bullish target will be the Target Zone 2 of 5,504–5,462. If not, a downward correction may begin.
If the correction starts, the price of gold may plunge to the support A of 5,036–5,015. Consider long trades near this zone with the first target at 5,132 and the second one at 5,249. The trend boundary is located at 4,930–4,899.
XAUUSD Trading Ideas for Today:
Buy near support A of 5,036–5,015. TakeProfit: 5,132, 5,249. StopLoss: 4,961.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend. The price is increasing in a correction, likely aiming to test the resistance A of 1.1860–1.1850. Once this zone is tested, consider short trades with the first target at 1.1801 and the second one at 1.1742.
If the price breaks above the resistance A, the correction will extend to the trend boundary of 1.1920–1.1904. Consider short trades near this zone. If the EURUSD pair breaks below the Target Zone of 1.1758–1.1725, the next bearish target will be the Gold Zone of 1.1650–1.1639.
EURUSD Trading Ideas for Today:
Sell near resistance A of 1.1860–1.1850. TakeProfit: 1.1801, 1.1742. StopLoss: 1.1887.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of XAUUSD in real time mode
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