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.
Gold is trading down in the short term.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil short-term uptrend continues. The upside target is the high of May 10. After this high is broken through, the next upside target will be the Gold Zone 75.85 – 75.56.
It is relevant to enter purchases on the correction with a stop loss below yesterday’s low. The first buy target is yesterday’s high.
If the low of May 17 is broken through, the price should go down to the low of May 15. Once the latter is broken through, the short-term trend will turn down.
USCrude trading ideas for today:
Buy according to the pattern at support (В) 69.44 – 69.01. TakeProfit: 73.75. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term downtrend continues. The downside target is in the lower Target Zone 1956 – 1943. One could enter new sell trades on the correction to resistance (А) 2020 – 2016 or resistance (В) 2043 – 2037.
One could sell after the test of either of the resistance zones when there is a sell pattern. The first target profit is at yesterday’s low.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (А) 2020 – 2016. TakeProfit: 1975. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 2043 – 2037. TakeProfit: 1975. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD continued declining yesterday. The downside target is the lower Target Zone. One could enter sell trades today at strong resistance zones.
The nearest resistance is resistance (А) 1.0926 – 1.0916. Once there is a pattern in the zone, I suggest entering a short with the first target at yesterday’s low.
The trend border is in the zone of 1.0985 – 1.0969.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1.0926 – 1.0916. TakeProfit: 1.0813. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 1.0985 – 1.0969. TakeProfit: 1.0813. StopLoss: according to the pattern rules.
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Price chart of XAUUSD 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.