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 continued yesterday.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil is trading in the short-term downtrend. The sell target is the lower Target Zone 65.99 - 65.12. The price is being corrected up.
Following the correction, the price could test resistance (А) 70.29 - 70.00. Once this zone is tested, I suggest entering short tardes with a target at the low of May 31.
If resistance (A) is broken out, the price will reach resistance (В) 71.88 - 71.45. One could also enter sell tardes in the zone.
USCrude trading ideas for today:
Sell according to the pattern at resistance (А) 70.29 - 70.00. TakeProfit: 67.18. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 71.88 - 71.45. TakeProfit: 67.18. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Yesterday, the gold price tested resistance (А) 1978 - 1974. This zone has been held down, and one could enter shorts around this resistance zone 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.
In an alternative scenario, the price should break out resistance (A) and consolidate above. In this case, the market will test resistance (В) 2001 - 1995. This zone is the trend border.
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 EURUSD short-term downtrend continued yesterday. The price tested the Gold Zone 1.0667 - 1.0657. The zone hasn't been broken out and the price went down below the zone at the end of the American trading session,
Therefore, if the price retests the GZ and the zone is not broken out, one could enter buy trades with a target at resistance (А) 1.0751 - 1.0741.
If the price breaks through yesterday's low, it will break out the Gold Zone. In this case, the next downside target will be the Target Zone 1.0551 - 1.0529.
EURUSD trading ideas for today:
Sell according to the pattern at resistance(А) 1.0751 - 1.0741. TakeProfit: 1.0667. StopLoss: according to the pattern rules.
Buy according to the pattern in Gold Zone 1.0667 - 1.0657. TakeProfit: 1.0740. 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.
