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Welcome fellow traders! I have created USCrude, XAUUSD and EURUSD price forecasts using a combination of margin zones methodology and technical analysis. Based on market analysis, I suggest entry signals for intraday traders.
Yesterday, the Euro reached its first downside target.
The article covers the following topics:
Oil price forecasts for today: US crude analysis
Oil is growing and testing the target area 82.34 – 81.44. If the price breaks this area from below today, the next upside target will be the gold area 84.75 – 84.45. If the bears can keep the price below the target area, a downward correction will begin. In this case, the oil price may fall to the support area (A) 78.63 – 78.35. Consider buying the asset at trend boundaries 77.25 – 76.84 if the price corrects to this area.
The price must break the 76.84 level and consolidate below this level to reverse the trend and create selling opportunities.
American crude Trading ideas for today:
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Buy according to the pattern at support (A) 78.63 – 78.35. Take profit: 81.34. StopLoss: According to the rules of the pattern.
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Buy as per the pattern at support (B) 77.25 – 76.84. Take profit: 81.34. StopLoss: According to the rules of the pattern.
Gold forecast for today: XAUUSD analysis
Yesterday, gold reached the resistance level (B) 2369 – 2361. However, the price has not yet penetrated this area, so the short-term trend is still bearish. Selling from resistance (B) requires the formation of a pattern, after which you can open sell trades with the first target of 2327. The second sales target will be the level of 2286.
If gold breaks the resistance level (B) and closes the American session above this area, the downtrend will reverse. In this case, consider long trades with the target at the upper target area 2451 – 2436.
HowUSD Trading ideas for today:
Sell according to the pattern at resistance (B) 2369 – 2361. TakeProfit: 2327, 2286. StopLoss: according to the rules of the pattern.
EUR/USD forecast for today: EUR/USD analysis
Yesterday, the Euro reached the first bearish target, moving from the resistance level (A) 1.0760 – 1.0751. If the short-term downtrend continues today, the price is likely to reach the second target near the June 14 low (1.0667). The target area 1.0664 – 1.0638 is located directly below this level. If the zone is broken from above, the next selling target will be the gold area 1.0580 – 1.0671.
The alternative scenario assumes that the price may break the resistance level (A) and correct to the resistance level (B) 1.0806 – 1.0793. Resistance (B) presents trend boundaries. Therefore, consider selling the Euro according to the pattern once the pair tests this area.
Euro against the US dollar Trading ideas for today:
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Selling holds at resistance (A) 1.0760 – 1.0751. Take profit: 1.0670. StopLoss: According to the rules of the pattern.
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Sell according to the pattern at resistance (B) 1.0806 – 1.0793. Take profit: 1.0670. StopLoss: According to the rules of the pattern.
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EURUSD price chart in real time mode
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