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 continues to trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: oil has reached its first bullish target near 63.04. The second target is 64.69.
- XAUUSD: gold is falling within a short-term downtrend.
- EURUSD: the euro is testing the short-term uptrend’s key support 1.1369 – 1.1349.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term uptrend. Last week, the price hit the first bullish target near 63.04. The second target is the April 23 high near 64.69.
If the asset breaks through the support (A) 61.68 – 61.38 today, the correction will continue to the trend boundary 60.18 – 59.73. Once this zone is reached, long trades can be considered.
USCrude Trading Ideas for Today:
Hold up long trades opened at support (A) 61.68 – 61.38. TakeProfit: 64.69. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold continues to trade in a short-term downtrend and will likely plunge below the April 23 low soon. After that, bears will probably try to push the price below the Target Zone 3274 – 3252. If the asset consolidates below this zone, the next bearish target will be the Gold Zone 3199 – 3192.
Therefore, consider holding short trades today until the price hits the target near 3259.
XAUUSD Trading Ideas for Today:
Hold up sales opened at resistance (B) 3383 – 3372. TakeProfit: 3259. StopLoss: at the breakeven.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term uptrend. The price is testing the key support 1.1369 – 1.1349. Consider long trades near this zone with the first target of 1.1461 and the second one near 1.1573.
If the asset breaks through the support (B) 1.1369 – 1.1349 today, the short-term uptrend will reverse. In this case, consider short trades tomorrow with a target in the lower Target Zone 1.1165 – 1.1124.
EURUSD Trading Ideas for Today:
Buy near support (B) 1.1369 – 1.1349. TakeProfit: 1.1461, 1.1573. StopLoss: 1.1308.
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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