Technical analysis for US Crude, XAUUSD, and EURUSD today (2 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.
The euro price is acting according to yesterday’s forecast: it is dropping towards the lower Target Zone 1.1800 – 1.1781.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Yesterday, WTI oil reached the Gold Zone 2 75.03 – 74.76. The price didn’t break out the zone, which did not allow buyers to continue the uptrend with the target at Target Zone 3 77.94 – 77.41.
A correction is now developing. Within the correction, the traders are testing the Additional Zone 74.37 – 74.24. The AZ is a strong support level, in which, first of all, it is reasonable to look for new purchases according to the trend. The buy target will be yesterday’s high.
If the Additional Zone is broken out during today’s trading session, it will be possible to sell oil in correction with the target at the Intermediary Zone 73.04 – 72.78.
USCrude trading ideas for today:
Buy according to the pattern in Additional Zone 74.37 – 74.24. TakeProfit: 75.65. StopLoss: according to the pattern rules.
Sell when the Additional Zone 74.37 – 74.24 is broken out. TakeProfit: Intermediary Zone 73.04 – 72.78. StopLoss: beyond the next local high.
Gold price forecast for today: XAUUSD analysis
Yesterday, the gold broke out the Intermediary Zone 1775 – 1773. Traders did not provide a sell pattern, instead, they reversed the short-term downtrend. Now the target for purchases is the upper Target Zone 1800 – 1795.
Also yesterday, the Additional Zone 1771 – 1770 was tested. This led to new purchases, the target of which is level 1780. If this level is broken out, the price will move towards level 1794.
If level 1780 is held, a test of support 1768 will take occur.
XAUUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1771 – 1770. TakeProfit: 1780. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone 1760 – 1758. TakeProfit: 1780. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro price is acting according to yesterday’s forecast: it is dropping towards the lower Target Zone 1.1800 – 1.1781 within a short-term downtrend. Euro sales took place in the Additional Zone 1.1885 – 1.1881 according to the Price Action pattern. Sales should be stopped at the moment because yesterday’s low has been updated.
Today it is reasonable to enter new short trades on correction according to the pattern at strong resistances. The Additional Zone 1.1883 – 1.1879 and Intermediary Zone 1.1932 – 1.1923 serve as the strong resistances. The target is the day’s low and the Target Zone 1.1800 – 1.1781.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1883 – 1.1879. TakeProfit: 1.1837, Target Zone 1.1800 – 1.1781. StopLoss: according to the pattern rules.
Sell according to the pattern in Intermediary Zone 1.1932 – 1.1923. TakeProfit: 1.1837, Target Zone 1.1800 – 1.1781. StopLoss: according to the pattern rules.
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Price chart of EURUSD in real time mode
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