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Technical analysis of US Crude, XAUUSD, and EURUSD for today (7 June 2022)

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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 short-term euro uptrend continues.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil uptrend continues. Yesterday, traders tested the Additional Zone 117.03 – 116.82 but unsuccessfully. Today, the search for purchases according to the pattern is a priority for a trader. The target is yesterday’s high.

If yesterday’s high is updated, there will be a possibility of price consolidation above the Target Zone 119.53 – 118.66. In this case, the next buy target will be the Gold Zone 123.47 – 123.03.

If the Additional Zone is broken out downside during the trading session and the price consolidates lower, the correction will continue with the target in the Intermediary Zone 114.95 – 114.53.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 117.03 – 116.82. TakeProfit: 119.13. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 114.95 – 114.53. TakeProfit: 119.13. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Gold continues to trade in a short-term uptrend. Yesterday, traders tested the key support of 1838 – 1828, which is currently being held. So the search for purchases according to the pattern is a priority. The first target for purchases will be June 3 high. The second target will be the Gold Zone 1898 – 1894.

To sell the precious metal, traders need to break out level 1828 and consolidate the price lower. After that, the short-term trend will reverse down, so consider sales with a target in the lower Target Zone 1802 – 1794.

XAUUSD trading ideas for today:

Open buy positions according to the pattern in 1838 – 1828. TakeProfit: 1873. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The short-term euro uptrend continues. The growth target is the Target Zone 1.0837 – 1.0818. Since June 3, the price has been trading in a correction.

Yesterday, the Additional Zone 1.0716 – 1.0711 was broken out. Today the price has reached the Intermediary Zone 1.0668 – 1.0658. The IZ serves as the border of a short-term uptrend. In this zone, consider long trades according to the pattern with the first target at the June 3 high.

To enter euro sales, traders need to break out level 1.0658. After that, the trend will reverse down, and the target for sales will be the lower Target Zone 1.0572 – 1.0553. In this case, consider short trades on the correction at strong resistance levels.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0668 – 1.0658. TakeProfit: 1.0763, Target Zone 1.0837 – 1.0818. 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.

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