2023.03.29 2023.03.29
Short-term analysis for oil, gold, and EURUSD for 29.03.2023Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/
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.
Gold continues trading between the upper Target Zone 1997 – 1989 and the lower support 1949 – 1943.
Oil price forecast for today: USCrude analysis
Oil continues trading in the short-term uptrend. The oil price tested the resistance, the Target Zone 74.27 – 73.37. Today, the traders should try to break out this resistance and consolidate above. If the resistance is broken out, the next upside target will be the Gold Zone 76.67 – 76.37.
If the TZ is not broken out, the price will be corrected down. In this case, the oil price will reach support (A) 71.08 – 70.79 or support (В) 69.63 – 69.19. One could enter new purchases in the support zone with a target at today’s high.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 71.08 – 70.79. TakeProfit: 73.92. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 69.63 – 69.19. TakeProfit: 73.92. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in the range between the upper Target Zone 1997 – 1989 and the lower support 1949 – 1943. On March 27, the gold traders tested the support, and the price is now rising with a target at the high of March 24. If this high is broken through, the market will continue rising with a target in the Gold Zone 2033 – 2029.
Otherwise, if the price goes below the low of March 27, the short-term trend will turn down. In this case, one could sell gold with a target at the lower Target Zone 1889 – 1877.
XAUUSD trading ideas for today:
Hold up purchases entered at support (В) 1949 – 1943. TakeProfit: 2008. StopLoss: at breakeven.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD is trading between resistance (A) 1.0829 – 1.0819 and resistance (B) 1.0887 – 1.0872. One could enter new sell trades in the zone with a target at the low of March 24, as the short-term trend is down. If the low of March 24 is broken through, the market will continue declining to the lower Target Zone 1.0611 – 1.0579.
It will be relevant to buy the EURUSD when the price breaks out level 1.0887 and consolidates above. In this case, the upside target will be the upper Target Zone 1.1062 – 1.1031.
EURUSD trading ideas for today:
Sell according to the pattern in the zone of 1.0829 – 1.0887. TakeProfit: 1.0715. StopLoss: according to the pattern rules.
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Price chart of XAUUSD 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.
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