I welcome my fellow traders! I have made a price forecast for the USCrude, 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.
Oil corrected to the resistance area (A).
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, oil quotes corrected to the resistance area (A) 75.74 – 75.44. Bears managed to hold the price below this zone. Today, consider short trades in this area with the first target at 74.10 and the second target at the June 4 low. If the price declines below this low, it may plunge to the Target Zone 2, 71.11 – 70.51.
If oil breaches the resistance (A) today, the quotes may touch the resistance (B) 77.39 – 76.94. In this zone, consider selling the instrument with the main target at the June 4 low. There is no sell pattern at the moment.
USCrude trading ideas for today:
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Sell according to the pattern at resistance (A) 75.74 – 75.44. TakeProfit: 74.10, 72.45. StopLoss: according to the pattern rules.
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Sell according to the pattern at resistance (B) 77.39 – 76.94. TakeProfit: 74.10, 72.45. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Gold is trading in an upward correction within the short-term downtrend. Today, the price has tested the resistance (B) 2397 – 2389 with a margin of error. This zone is the trend boundary. In this connection, consider selling the instrument in this area with the first target at 2355 and with the second target in the area of the June 3 low. If the price drops below the June 3 low, it is likely to reach the Target Zone 2300 – 2285.
Gold should break through 2397 and consolidate above this level to reverse the current trend and create buying opportunities. In this case, it will be possible to consider long trades with a target within the upper Target Zone 2479 – 2464.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (B) 2397 – 2389. TakeProfit: 2355, 2315. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the EURUSD pair tested the support at 1.0874 – 1.0869 once again. Bulls held the price above this level. Meanwhile, the pair is maintaining the short-term uptrend. Today, consider or hold long trades with the target at the June 4 high. If the price pierces this high, the next bullish target will be within the Gold Zone 1.0945 – 1.0937.
To create selling opportunities, the price should consolidate below 1.0870 during the US trading session. If so, consider short trades with the target at the support (A) 1.0832 – 1.0823. In this case, short trades will be opened during a correction, so it is necessary to reduce risks when opening trades.
EURUSD trading ideas for today:
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Buy according to the pattern at support 1.0874 – 1.0869. TakeProfit: 1.0915. StopLoss: according to the pattern rules.
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Buy according to the pattern at support (A) 1.0832 – 1.0823. TakeProfit: 1.0915. StopLoss: according to the pattern rules.
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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.
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