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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 euro is correcting downward after rising on May 24-28.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is maintaining a correction within the short-term downtrend. As part of the correction, the price broke through resistance (A) 79.32 – 79.02 and is approaching resistance (B) 80.97 – 80.52. Resistance (B) is the trend boundary. Once the price tests this zone, consider selling the asset according to the pattern with the target within the Target Zone 77.11 – 76.12.
If oil breaches resistance (B) today, the downtrend will likely reverse.
USCrude trading ideas for today:
Sell according to the pattern at resistance (B) 80.97 – 80.52. TakeProfit: 76.12. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is correcting upwards within the short-term downtrend. During the correction, the price may reach resistance (A) 2380 – 2375. If it tests this area, consider selling the precious metal with the target at the May 24 low. To open short trades, wait for the formation of the corresponding pattern.
If gold pierces resistance (A) during the trading day, the correction will continue to resistance (B) 2407 – 2400. This zone offers the trend boundary, and you can also consider short trades in this area.
XAUUSD trading ideas for today:
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Sell according to the pattern at resistance (A) 2380 – 2375. TakeProfit: 2327. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 2407 – 2400. TakeProfit: 2327. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is correcting downward after the May 24-28 surge. The price failed to hit above the May 16 high during the upward movement. Therefore, all long trades should be closed. If the decline continues, the price will likely test support (A) 1.0811 – 1.0802. Once it reaches this zone, consider long trades after a bullish pattern appears on the chart.
At the same time, if the euro breaks through support (A), the correction will continue to support (B) 1.0769 – 1.0756. This zone is the trend boundary, from which you can also consider long trades.
EURUSD trading ideas for today:
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Buy according to the pattern at support (A) 1.0811 – 1.0802. TakeProfit: 1.0895. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (B) 1.0769 – 1.0756. TakeProfit: 1.0895. 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.
