Technical analysis for USCrude, XAUUSD, and EURUSD today (22 March 2024)

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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 oil price is correcting with a target at support (A) 79.73 – 79.40.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The oil price is correcting with a target at support (A) 79.73 – 79.40. After reaching this support, consider new purchases as part of the short-term trend with a target at March 19 high. If the price consolidates above March 19 high, then the next target for purchases will be the Gold Zone 84.98 – 84.65.

If during trading, support (A) is broken out downside, the correction will continue down to support (B) 78.08 – 77.59. This zone serves as the border of a short-term uptrend. After reaching it, also consider purchases with a target at March 19 high.

USCrude trading ideas for today:

  1. Buy according to the pattern at support (А) 79.73 – 79.40. TakeProfit: 82.97. StopLoss: according to the pattern rules.

  2. Buy according to the pattern at support (В) 78.08 – 77.59. TakeProfit: 82.97. StopLoss: according to the pattern rules.


Gold forecast for today: XAUUSD analysis

Yesterday, the gold price reached support (A) 2178 – 2174. The zone was held by buyers. However, today, the zone was broken out at the Asian session. Now the price is updating yesterday’s low, preparing to test support (B) 2156 – 2149. After testing support (B), consider new purchases. To enter purchases, wait for a pattern. The target for long trades will be March 21 high.

If, during trading, the support (B) is broken out downside, the short-term trend will reverse down. In this case, consider sales with a target in the lower Target Zone 2090 – 2077.

XAUUSD trading ideas for today:

Buy according to the pattern at support (В) 2156 – 2149. TakeProfit: 2220. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Yesterday, traders tried to reach the upper Target Zone 1.0972 – 1.0946. However, sellers seized the initiative and absorbed all the growth that was caused by the US Federal Reserve’s interest rate decision. As a result, the price reached support (B) 1.0855 – 1.0842, and today it is trying to break out this zone. If the price consolidates below support (B), the short-term trend will reverse down. In this case, starting next week, consider sales with a target in the lower Target Zone 1.0729 – 1.0704.

If, during trading, the price returns to support (B) and consolidates higher, continue searching for purchases according to the pattern with the target at March 21 high.

EURUSD trading ideas for today:

Watch the market.


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Price chart of USCRUDE 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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