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.
Yesterday, the euro continued to trade in a short-term uptrend.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil has pierced the support (A) 61.01 – 60.71 and is now poised to decline to the support (B) 59.51 – 59.06.
- XAUUSD: Gold continues to trade in a short-term uptrend.
- EURUSD: The euro has reached its first bullish target for the trades opened at the support (B) 1.1215 – 1.1194.
Oil Price Forecast for Today: USCrude Analysis
Oil continues to trade in a short-term uptrend. Yesterday, the price reached its first bullish target of 62.37 for the trades opened at the support (A) 61.01 – 60.71. Later, the asset reversed and broke through the support (A).
The price may continue to fall to the support 59.51 – 59.06 in a correction today. Once this zone is reached, observe the bull’s reaction and, if a buy signal appears, open a long trade with the first target of 61.53. The second target will be the May 21 high of 64.01.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold hit the first bullish target near 3303 within a short-term uptrend yesterday. After that, the price consolidated above this level, indicating a potential growth towards the second target near 3365. If the asset pierces the 3365 level, the short-term trend may continue to the Gold Zone 3428 – 3420.
An alternative scenario assumes that the price may drop and break through the support (B). In this case, the short-term uptrend will likely reverse, and the lower Target Zone 3140 – 3118 will become a bearish target.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro reached its first bullish target of 1.1306 within a short-term uptrend yesterday. The second target is the May 26 high near 1.1419. If the price settles above this high, the quotes may climb to the Target Zone 1.1514 – 1.1473.
An alternative scenario suggests that if the price pierces the support (B), the short-term uptrend will reverse, and one may consider short trades with a target in the lower Target Zone 1.1011 – 1.0970.
EURUSD Trading Ideas for Today:
Hold up long trades opened at support (B) 1.1215 – 1.1194. TakeProfit: 1.1419. StopLoss: at the breakeven.
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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