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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.
Gold is trading in a short-term downtrend.
The article covers the following topics:
Oil price forecasts for today: US crude analysis
Oil prices are declining after reaching the target area 82.34 – 81.44 last week. If the decline continues, the price may test support (A) 78.64 – 78.34. Once this area is tested, consider long trades with the target at the June 21 high.
If oil breaches the support level (A), the correction will continue to support (B) 77.16 – 76.71. Consider long trades near support (B), which is the short-term uptrend limit.
American crude Trading ideas for today:
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Buy as per the pattern at support (A) 78.64 – 78.34. Take profit: 81.57. StopLoss: According to the rules of the pattern.
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Buy as per the pattern at support (B) 77.16 – 76.71. Take profit: 81.57. StopLoss: According to the rules of the pattern.
Gold forecast for today: XAUUSD analysis
Gold maintains a short-term downtrend. On June 21, the asset tested resistance (B) 2369 – 2361. After that, the price declined and reached the first downside target near 2327. The next target is the 2286 level. If the price breaks this level, it may drop to the golden zone 2250 – 2245 .
The bulls must break and consolidate above the resistance level (B) to make buys. In this case, the trend will reverse. Therefore, the upper target area 2451 – 2436 will become the bullish target.
HowUSD Trading ideas for today:
Stop sales at resistance (B) 2369 – 2361. TakeProfit: 2286. StopLoss: at breakeven point.
EUR/USD forecast for today: EUR/USD analysis
The EUR/USD pair is trading in a short-term downtrend. Last week, the bulls tested the resistance (A) 1.0760 – 1.0751, but the bears managed to keep the asset below this level. As a result, the price declined and reached the first downside target near 1.0714. The next target is the June 14 low. Therefore, one can keep open sell trades at the resistance level (A) until the June 14 low is updated.
If the price rises and breaks the resistance level (A), the correction will continue to the resistance level (B) 1.0806 – 1.0793, which is the trend boundary. Therefore, consider short trades in 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: At the break-even point.
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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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XAUUSD price chart in real time mode
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