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.
The euro is declining in a correction within the short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil is testing the strong support (A) 61.01 – 60.71.
- XAUUSD: Gold is approaching the support (A) 3290 – 3283.
- EURUSD: The euro is decreasing, but the trend remains upward.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term uptrend. Today, the price is testing the support (A) 61.01 – 60.71. Last week, bulls managed to keep the asset above this zone. Therefore, consider long trades with the first target of 62.36 and the second one at the May high of 64.01.
If the price pierces the support (A) today, the correction will continue to the trend boundary 59.51 – 59.06. Consider long trades near this zone.
USCrude Trading Ideas for Today:
Hold up long trades opened at support (A) 61.01 – 60.71. TakeProfit: 62.36, 64.01. StopLoss: 60.17.
Gold Forecast for Today: XAUUSD Analysis
Gold is approaching the support (A) 3290 – 3283 within a downward correction. The short-term trend remains bullish. Therefore, consider long trades once the support (A) is tested, with the first target of 3324 and the second one near 3365.
If the asset breaks through the support (A) today, the correction will continue to the trend boundary 3253 – 3242. Consider long trades near this zone.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3290 – 3283. TakeProfit: 3324, 3365. StopLoss: 3269.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is falling in a correction within the short-term uptrend. The potential target is the support (A) 1.1283 – 1.1269. Once this zone is tested, one may start looking for new long entries. The first bullish target will be 1.1344, and the second one will be the May 26 high. If the asset consolidates above this high, the price may continue to climb to the upper Target Zone 1.1514 – 1.1473.
The euro should break through and settle below the support (B) 1.1215 – 1.1194 to allow traders to open short trades and reverse the trend.
EURUSD Trading Ideas for Today:
Buy near support (A) 1.1283 – 1.1269. TakeProfit: 1.1344, 1.1419. StopLoss: 1.1244.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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