Short-term analysis for oil, gold, and EURUSD for 01.03.2021

I welcome my fellow traders! I have made a price forecast for US Crude, 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 short-term trend in the EURUSD pair reversed down. As a result, the Target Zone [1.2082 – 1.2066] was immediately reached.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Last week, a trading recommendation for selling oil worked out when the Additional Zone [62.57 – 62.44] was broken out. Take Profit in the Intermediary Zone [61.44 – 61.22] was taken.

The reaction to the short-term uptrend’s key support test followed immediately – the price rose and stopped in the resistance zone, the Additional Zone [62.48 – 62.36]. Today consider new oil sales in AZ to update Friday low.

A breakout of the IZ and closing of the US trading session below are required to reverse the trend down. For oil purchases, it is necessary to break out the level of 62.51 and consolidate the price within one or two trading sessions higher.

USCrude trading ideas for today:

Sell according to the pattern in Additional Zone [62.48 – 62.36]. TakeProfit: 61.22. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis 

After reaching all possible targets within the short-term downtrend, gold went into correction and is currently approaching the trend key resistance [1777 – 1772]. After testing the trend border, look for a pattern to open a new sale to update the Friday low.

To buy the precious metal, a breakout of the Intermediary Zone and closing of the US trading session higher are required. In this case, the target for purchases will be the upper Target Zone [1838 – 1827].

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone [1777 – 1772]. TakeProfit: 1718. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

Last Friday, the short-term trend in the EURUSD pair reversed down. As a result, the Target Zone [1.2082 – 1.2066] was immediately reached.

If you remember, February 26’s price forecast suggested the euro sale in the Intermediary Zone [1.2162 – 1.2154] with a stop at 1.2184. As a result, this sale was profitable.

Now, the euro price is correcting and approaching the local resistance of the Additional Zone [1.2106 – 1.2102]. After testing the zone, look for a sell pattern to update the Friday low.

If the Additional Zone is broken out, then the correction will continue in order to test the new trend line [1.2150 – 1.2142].

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone [1.2106 – 1.2102]. TakeProfit: 1.2063. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone [1.2150 – 1.2142]. TakeProfit: 1.2063. 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 LiteForex. 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.

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