Technical analysis for US Crude, XAUUSD, and EURUSD today (1 July 2021)
I welcome my fellow traders! I have made a price forecast for US Crude, 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.
Gold has reached the Intermediary Zone 1775 – 1773 and is now trying to break it out.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil sales in the correction did not meet expectations. As a result, the Additional Zone 73.13 – 73.00 was broken out. Then the price tested the resistance level of 73.64 and stopped below it. From a technical point of view, the pattern for selling oil is a “false breakout”, but according to the margin zones’ methodology, the trend is upward.
For oil purchases, wait for the breakout of the resistance at 74.64. To enter sales wait for the breakout of level 73.05.
USCrude trading ideas for today:
Buy when level 73.64 is broken out. TakeProfit: Gold Zone 75.03 – 74.76. StopLoss: beyond the level of 73.05.
Sell when level 73.05 is broken out. TakeProfit: Intermediary Zone 71.50 – 71.24. StopLoss: beyond the level of 73.64.
Gold price forecast for today: XAUUSD analysis
Gold has reached the Intermediary Zone 1775 – 1773 and is now trying to break it out. This zone is strong resistance on the correction’s way to a short-term downtrend. Therefore, first of all, it is reasonable to look for sales according to the pattern in the beforementioned IZ. The target for sales will be level 1754.
If the Intermediary Zone is broken out, then the correction towards the trend border at level 1794 will continue. This will allow considering gold purchases between the Intermediary Zone and level 1794.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1775 – 1773. TakeProfit: 1754, Gold Zone 1745 – 1743. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Yesterday, the short-term euro trend reversed down after the Intermediary Zone 1.1887 – 1.1878 breakout and price consolidation below. The Target Zone 1.1800 – 1.1781 serves as a target for sales for the rest of the week. It is profitable to enter euro sales on the correction in the zone of 1.1934 – 1.1878.
The new trend’s border is at level 1.1934. If this level is broken out, then the further growth with targets at level 1.1973 and Target Zone 1.2031 – 1.2013 is possible.
EURUSD trading ideas for today:
Sell according to the pattern in the zone of 1.1934 – 1.1878. TakeProfit: 1.1837, Target Zone 1.1800 – 1.1781. StopLoss: according to the pattern rules.
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Price chart of XAUUSD in real time mode
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