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.
Today, oil is testing the resistance B of 95.78–94.97.
The article covers the following subjects:
Major Takeaways
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USCrude: Oil is testing resistance B at 95.78–94.97.
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XAUUSD: Gold has retreated from resistance B at 4,734–4,713.
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EURUSD: The euro is trying to extend its gains.
Oil Price Forecast for Today: USCrude Analysis
Today, the price of oil is testing the resistance zone B 95.78–94.97 as part of a correction in the short-term downward trend. If sellers manage to keep the price below this zone and a corresponding signal appears, it will be possible to open short positions with a first target at 91.34 and a second target around 86.89.
If the price pierces the resistance B and closes higher during the US trading session, the short-term trend will likely turn bullish. In that case, starting from the next trading day, long trades can be considered with a target in the upper Target Zone of 104.68–103.06.
USCrude Trading Ideas for Today:
Sell near resistance B of 95.78–94.97. TakeProfit: 91.34, 86.89. StopLoss: 97.43.
Gold Forecast for Today: XAUUSD Analysis
Gold has retreated from the key resistance level of the short-term downtrend at 4,734–4,713. The first bearish target is 4,617. If the price breaks through this level, it may slide to the next target of 4,500.
If gold prices exceed the May 7 high, the short-term downtrend will likely reverse. In that case, starting the next trading day, one may consider buying gold with a target in the upper Target Zone of 4,968–4,925.
XAUUSD Trading Ideas for Today:
Hold short trades opened at 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 rising within a short-term uptrend. Last week, the price reached the first bullish target around the 1.1760 level. This week, the rally may continue. The pair may hit the second bullish target around the 1.1849 level. After that, if the price manages to consolidate above the Gold Zone of 1.1853–1.1842, the next target will be the 1.1972–1.1950 area.
An alternative scenario suggests that the pair may decline below the key support zone of 1.1687–1.1670. In this case, short positions could be considered with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Buy near 1.1760. TakeProfit: 1.1849. StopLoss: 1.1720.
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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