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 has failed to break through the upper Target Zone 63.61 – 62.83.
The article covers the following subjects:
Major Takeaways
- USCrude: oil has slid to the support (A) 60.85 – 60.59 during a correction.
- XAUUSD: gold has declined further, reaching the Gold Zone 3135 – 3127.
- EURUSD: the euro has climbed to the resistance 1.1289 – 1.1201 during a correction.
Oil Price Forecast for Today: USCrude Analysis
Oil has failed to break through the upper Targets Zone 63.61 – 62.83 and corrected to the strong support (A) 60.85 – 60.59 today. Consider long trades near this zone with the first target near 62.03 and the second one at the May 13 high.
If the asset pierces the support (A) today, the correction will continue to the trend boundary 59.55 – 59.16. Once this zone is reached, long trades can be considered.
USCrude Trading Ideas for Today:
Buy near support (A) 60.85 – 60.59. TakeProfit: 62.03, 63.46. StopLoss: 60.07.
Gold Forecast for Today: XAUUSD Analysis
Gold is maintaining its short-term downtrend today. The price has broken through the Target Zone 3210 – 3187 and touched the Gold Zone 3135 – 3127. If the asset pierces the Gold Zone today, the next bearish target will be the Target Zone 2, 3060 – 3045.
Consider short trades on a correction at the strong resistance (A) 3203 – 3195 and resistance (B) 3244 – 3233, the trend boundary.
XAUUSD Trading Ideas for Today:
Sell near resistance (A) 3203 – 3195. TakeProfit: 3161, 3120. StopLoss: 3218.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, oil traded in an upward correction within the short-term downtrend. Besides, the price tested the 1.1289 – 1.1201 area. However, bears have managed to keep the asset in this zone. Therefore, consider short trades near this zone with the first target of 1.1153 and the second one at the May 12 low of 1.1065.
The price should break through and settle above the 1.1289 level in the US trading session to create buying opportunities and reverse the downtrend.
EURUSD Trading Ideas for Today:
Sell near resistance 1.1289 – 1.1201. TakeProfit: 1.1153, 1.1065. StopLoss: 1.1286.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of USCRUDE in real time mode
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