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 oil price stopped under the resistance zone of 73.53 – 72.66.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil short-term trend remains up. Buyers can’t break out the Target Zone 73.53 – 72.66. If this zone is held down, the price will be again corrected to the trend key support 69.44 – 69.01. One could enter new purchases in the key support zone.
If the Target Zone is broken out, the next upside target will be the Gold Zone 75.85 – 75.56.
The trend will turn down when the price breaks out level 69.01 and consolidates below.
USCrude trading ideas for today:
Buy according to the pattern at support (В) 69.44 – 69.01. TakeProfit: 73.53. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold continues trading down in the short term. Today, the gold traders are trying to break out the Target Zone 1956 – 1943. If the TZ is broken out, the next downside target will be the Gold Zone 1916 – 1912.
Otherwise, the price will be corrected up to resistance (A) 1997 – 1993. If the resistance is broken out, the price will go up to resistance (В) 2020 – 2014. I suggest entering new shorts in the second resistance zone with a target at the low of May 18.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1997 – 1993. TakeProfit: 1953. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 2020 – 2014. TakeProfit: 1953. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
EURUSD is trading down in the short term. After reaching the Target Zone on May 19, the price has been corrected up. The correction could continue up to resistance (А) 1.0876 – 1.0865. After this resistance is tested, I suggest entering new sell trades with a target at the low of May 19.
If resistance (A) is broken out upside, the price will reach the trend border 1.0934 – 1.0918. If the price consolidates below the Target Zone, the next downside target will be the Gold Zone 1.0667 – 1.0657.
EURUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1.0876 – 1.0865. TakeProfit: 1.0762. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 1.0934 – 1.0918. TakeProfit: 1.0762. StopLoss: according to the pattern rules.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
Price chart of USCRUDE 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.