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 EURUSD short-term downtrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil short-term trend remains up. The oil traders were testing support (A) 71.41 – 71.12 yesterday. The price broke out support (A) and is now heading for support (B) 69.96 - 69.53. When the second support zone is reached, one could enter new purchases with a target at the high of June 5.
If this high is broken through, the next upside target will be the upper Target Zone 76.67 – 75.80.
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 trend remains down. The downside target is the low of May 30. The market participants provided good sell prices yesterday. Today, one could hold down sell trades with a target at the low of May 30. If this low is broken through, the next downside target will be the Gold Zone 1916 — 1912.
XAUUSD trading ideas for today:
Hold down sell trades entered at resistance (А) 1978 - 1974. TakeProfit: 1932. StopLoss: 1984.
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 EURUSD short-term downtrend continues. The price is now approaching the Gold Zone 1.0667 – 1.0657. If this zone is broken through, the low of May 31 is broken through. In this case, the downside target will be the lower Target Zone 1.0551 — 1.0529.
If the Gold Zone is broken out, the price will be corrected up to resistance (В) 1.0810 – 1.0794. Therefore, one could enter buy trades according to the pattern in this scenario.
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.
Buy according to the pattern in Gold Zone 1.0667 - 1.0657. TakeProfit: 1.0795. 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.
