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 uptrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil continued to rise from the highest closing price in three months. Investors are assessing the future of supply and demand as the summer driving season begins in the US and China lifts lockdowns.
The short-term oil trend remains up. Yesterday, traders tried to consolidate the price below the Additional Zone 117.03 – 116.82, but unsuccessfully. As a result, the growth continues. Now the price is trying to break out the Target Zone 119.53 – 118.66 and update June 6 high.
If the buyers manage to consolidate the price above the Target Zone, the next target for purchases will be the Gold Zone 123.47 – 123.03. Otherwise, the correction will continue with the target in the Intermediary Zone 114.95 – 114.53.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 117.03 – 116.82. TakeProfit: 119.13. StopLoss: according to the pattern rules.
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 is trading in a correction. Yesterday, the trend key support 1838 – 1834 was tested during the trading session. The zone was held, so today, it is relevant to search for purchases in this zone. The target for purchases will be June 3 high. After updating the high, the price will move to the Gold Zone 1898 – 1894.
To enter gold sales and reverse the trend, traders need to break out level 1828 and consolidate the price lower. In this case, 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 EURUSD short-term uptrend continues. Yesterday, the Intermediary Zone 1.0668 – 1.0658 was tested. The zone was held, so today, searching for purchases according to the pattern with a target at June 3 high is a priority. After updating the high, the price will move to the upper Target Zone 1.0837 – 1.0818.
Otherwise, wait for the breakout of the Intermediary Zone and price consolidation below in the American session. The short-term trend will reverse down, so from the next day, it will be possible to consider euro sales with the target in the lower Target Zone 1.0572 – 1.0553.
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.