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Technical analysis for US Crude, XAUUSD, and EURUSD today (12 April 2021)

2021-04-12

2021-04-12

Short-term analysis for oil, gold, and EURUSD for 12.04.2021Alex 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.

The oil short-term downtrend continues.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil downtrend continues. Its first target is the test of the support level of 58.00, and the second - the test of level 57.35. Hold sales entered last week.

If the bulls take control of the situation and break out the resistance level of 60.70, then the short-term trend will reverse up. In this case, enter oil purchases with the target in the upper Target Zone 63.26 - 62.75.

[USCrude][1] trading ideas for today:

Hold down sales entered in the zone of 59.42 - 60.45. TakeProfit: 57.35. StopLoss: 61.00

Gold price forecast for today: XAUUSD analysis

Last Friday, gold traders could not break out the resistance Gold Zone 1755 - 1752. As a result, a correction began, within which the trend key support 1733 - 1731 was reached. The price didn’t break out the key support and the technical level of 1734, so the probability of the gold growth remains. The growth target will be last week’s high.

It will be possible to consider gold sales only after the uptrend reversal. To do this, the bears need to get things under control and break out the trend key support 1733 - 1731.

[XAUUSD][2] trading ideas for today:

Hold up purchases entered in the zone of 1736 - 1731. TakeProfit: Zone 1757 - 1755. StopLoss: 1726.3.

Euro/Dollar forecast for today: EURUSD analysis

The euro is trading in a short-term uptrend. The growth target is the Gold Zone 1.1952 - 1.1944.

Last week the price corrected to the Additional Zone 1.1887 - 1.1883. The bears tried to break out the level but failed. As a result, the price didn’t break out the support. Look for or hold purchases in the abovementioned support level. A breakout of the resistance level 1.1907 is required to form a buy pattern.

It will be relevant to sell the euro if the price breaks out level 1.1862. In this case, a false breakout pattern will be formed in the H1 chart.

[EURUSD][3] trading ideas for today:

  1. Hold up purchases entered in the zone of 1.1883 - 1.1862. TakeProfit: 1.1921. StopLoss: 1.1857.

  2. Buy according to the pattern in Additional Zone 1.1887 - 1.1883. TakeProfit: 1.1921, Gold Zone 1.1952 - 1.1944. StopLoss: according to the pattern rules.

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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

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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 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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  1. my.liteforex.com/trading?type=oil
  2. my.liteforex.com/trading/chart?symbol=XAUUSD&returnUrl=true
  3. my.liteforex.com/trading/chart?symbol=EURUSD&returnUrl=true
  4. my.liteforex.com/?category=analysts-opinions&slug=short-term-analysis-for-oil-gold-and-eurusd-for-12042021&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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