Major Takeaways
- USCrude: The oil price is rising as bulls have defended the support B at 95.18โ94.36.
- XAUUSD: Gold has pulled back to the key support zone at 4,570โ4,547.
- EURUSD: The euro has failed to pierce the resistance B at 1.1589โ1.1572.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil tested the key support of the short-term uptrend at 95.18โ94.36. Bulls managed to keep the price above this zone. Today, the oil price is rising, reaching the first target at 98.88. The second bullish target is the March 31 high of 103.39. If the asset breaks above this high, it may grow to the Gold Zone at 106.40โ105.85.
If the price settles below the support B, the trend will turn bearish, providing selling opportunities.
USCrude trading Ideas for Today:
Hold part of long trades opened at support B at 95.18โ94.36. TakeProfit: 103.39. StopLoss: at breakeven.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold broke above the Target Zone at 4,689โ4635. After that, the asset tried to reach the Gold Zone at 4,832โ4,814. However, a correction started today.
During the correction, the metal reached the key support of the short-term uptrend at 4,570โ4,547. Long trades can be considered near this zone, with the first target at 4,674 and the second one around 4,800.
If the gold price settles below the 4547 level, the uptrend will reverse.
XAUUSD trading Ideas for Today:
Buy near support B at 4,570โ4,547. TakeProfit: 4,674, 4,800. StopLoss: 4,505.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro once again tested the key resistance of the short-term downtrend at 1.1589โ1.1572. However, bears managed to keep the asset below this zone. Therefore, traders had an opportunity to open short positions near this zone. Today, consider holding these trades, targeting 1.1500 and 1.1410.
If the EURUSD pair breaks above the resistance B, the trend will turn bullish. In this case, the price may climb to the upper Target Zone at 1.1767โ1.1734. However, the asset needs to surpass the March 23 high to pierce the resistance B.
EURUSD Trading Ideas for Today:
Hold short trades opened at resistance B at 1.1589โ1.1572. TakeProfit: 1.1500, 1.1410. StopLoss: 1.1631.
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