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 market has opened with a gap today.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil market has opened with a gap today. The price has broken out the resistance of the short-term downtrend 71.88 - 71.45. The oil short-term trend is now up. The upside target is now the upper Target Zone 76.67 — 75.80.
I suggest entering purchases on the correction to support (А) 71.41 – 71.12 or support (В) 69.96 – 69.53. The first upside target will be today’s high.
It will be relevant to sell when the price breaks out level 69.53 and consolidates below.
USCrude trading ideas for today:
Buy according to the pattern at support (А) 71.41 - 71.12. TakeProfit: 74.23. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 69.96 - 69.53. TakeProfit: 74.23. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term downtrend continues. The first downside target is the low of May 30. The second target is the Gold Zone 1916 – 1912. Today, I suggest holding down short trades entered at support (А) 1978 — 1974.
It will be relevant to buy when the short-term trend turns up via the breakout of level 2001 and consolidation above. But first, the price should break through the high of June 2, If this high is broken through, the price will reach the resistance zone of 2001 - 1995.
XAUUSD trading ideas for today:
Hold down sell trades entered at resistance (А) 1978 - 1974. TakeProfit: 1932. StopLoss: 1986.
Sell according to the pattern at resistance (В) 2001 - 1995. TakeProfit: 1932. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURSUD continues trading down in the short term. Last week, the price tested resistance (В) 1.0810 - 1.0794 (taking into account the error).
Therefore, I suggest entering sell trades with the first target at the low of May 31. If the low of May 31 is broken through and the price consolidates below, the next downside target will be in the Target Zone 1.0551 — 1.0529.
If the Gold Zone 1.0667 – 1.0657 is not broken out, the price will be corrected up. In this case, the price could reach resistance (В) 1.0810 - 1.0794.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (В) 1.0810 - 1.0794. TakeProfit: 1.0637. StopLoss: according to the pattern rules.
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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.
