Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The euro is pulling back toward support B of 1.1687–1.1670.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil prices are undergoing a bearish correction.
- XAUUSD: Gold is trading below resistance B of 4,734–4,713.
- EURUSD: The euro price is correcting lower.
Oil Price Forecast for Today: USCrude Analysis
Oil prices are retreating, though the short-term trend remains bullish. The asset may slide to the support A of 93.93–93.39. Consider long trades near this zone, with the first target at 96.36 and the second one at the May 12 high of 99.32.
If oil breaks below the support A, it may correct lower towards the support B of 91.23–90.43.
USCrude Trading Ideas for Today:
Buy near support A 93.93–93.39. TakeProfit: 96.36, 99.32. StopLoss: 92.07.
Gold Forecast for Today: XAUUSD Analysis
Gold is still trading below the key resistance of the short-term downtrend at 4,734–4,713. Bears are holding this zone. Therefore, consider maintaining short trades open this week, targeting 4,617 and 4,500.
If the metal settles above the resistance B of 4734–4,713, the short-term trend will turn bullish. In that case, consider long trades, with a target in the upper Target Zone of 4,968–4,925.
XAUUSD Trading Ideas for Today:
Hold short trades opened near resistance B of 4,734–4,713. TakeProfit: 4,617, 4,500. StopLoss: 4,779.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is decreasing again and approaching the support B of 1.1687–1.1670, the boundary of the short-term uptrend. As long as the price remains above this zone, one may consider long trades, with the first target at last week’s high of 1.1795 and the second one at the April high of 1.1849.
If the EURUSD pair breaks below the support B today, the short-term trend will shift to a downtrend. In that case, consider short trades on the next trading day, targeting the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Watch the market.
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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