Technical analysis of US Crude, XAUUSD, and EURUSD for today (7 March 2022)


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.

During the euro trades opening the price declined and reached the Gold Zone 2 1.0834 – 1.0825.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Today oil trades opened with a gap. The price reached the Gold Zone 4 124.13 – 123.75. After reaching the GZ 4, the price started a correction and tested the Intermediary Zone 120.47 – 120.02. The IZ serves as the trend border. The buyers’ reaction and the price growth can be seen in it. The day’s high serves as the growth target at the moment. If traders manage to consolidate the price above today’s high, the next target will be the TZ 5 128.31 – 127.55.

Today the priority scenario for traders is to search for purchases with the targets indicated above. An alternative scenario: expect the breakout of the trend key support and further sales in the lower TZ 115.97 – 115.07.

USCrude trading ideas for today:

  1. Buy according to the pattern in Intermediary Zone 120.47 – 120.02. TakeProfit: 124.80. StopLoss: according to the pattern rules.

  2. If the Intermediary Zone 120.47 – 120.02 is broken out, sell on retest. TakeProfit: Target Zone 115.97 – 115.07. StopLoss: 122.30.


Gold price forecast for today: XAUUSD analysis

Gold once again updated the local high and broke out the resistance, the Gold Zone 1975 – 1972. Now the Target Zone 2 2008 – 2002 serves as the growth target within the short-term uptrend. At the moment, the gold price is correcting and testing the Additional Zone 1984 – 1982. The AZ is the first strong support on the path of correction, so the price may rebound up from it.

Gold purchases will be possible if a corresponding pattern is formed. The buy target will be the day’s high and the TZ 2.

If the AZ is broken out, then the correction will continue with the target in the Intermediary Zone 1968 – 1964. The IZ serves as the trend border, so after reaching it look again for purchases with the first target around ​​today’s high.

To enter sales and reverse the trend, it is required to break out the IZ and consolidate the price below. In this case, from the next trading day, it will be possible to look for short trades with the target in ​​the lower TZ 1935 – 1928.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1984 – 1982. TakeProfit: 2000. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1968 – 1964. TakeProfit: 2000. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis  

During the euro trades opening the price declined and reached the Gold Zone 2 1.0834 – 1.0825. GZ 2 serves as a strong support in a short-term downtrend. The chart shows the closing of large sales after reaching the GZ 2. As a result, the price corrected. Now it tries to test the Intermediary Zone 1.0926 – 1.0916.

The Intermediary Zone serves as the border of a short-term downtrend. Therefore, after reaching it, first of all, look for new sales in order to update today’s low. If traders break out the IZ up and the price consolidates higher at the American trading session, then the trend will reverse up. In this case, look for euro purchases with the target in the upper TZ 1.1032 – 1.1012.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0926 – 1.0916. TakeProfit: 1.0825. StopLoss: according to the pattern rules.


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Price chart of EURUSD 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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