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Short-term analysis for oil, gold, and EURUSD for 06.07.2021

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.

Yesterday, within a short-term uptrend, an oil buy pattern was formed.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, within a short-term uptrend, an oil buy pattern was formed (see screenshot). As a result, the pattern yielded profits and the Gold Zone 75.03 – 74.76 was broken out. The next growth target is the Target Zone 3 77.94 – 77.41.

I recommend considering new oil purchases on correction at strong support levels: Micro-zone 75.52 – 75.46 and Additional Zone 74.86 – 74.73. A pattern is required for purchases.

The trend border is shifted to level 74.24.

USCrude trading ideas for today:

  1. Buy according to the pattern in Micro-zone 75.52 – 75.46. TakeProfit: 76.15. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Additional Zone 74.86 – 74.73. TakeProfit: 76.15. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis 

The short-term gold uptrend continues with the target in the Gold Zone 1820 – 1818. Now traders are trying to break out the Target Zone 1800 – 1795 and consolidate the price higher.

It is reasonable to look for new gold purchases on corrections at strong support levels according to the patterns. The nearest supports for today: Additional Zone 1795 – 1794 and Intermediary Zone 1784 – 1781. The latter also acts as the trend key support.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1795 – 1794. TakeProfit: 1806. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1784 – 1781. TakeProfit: 1806. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

The euro/dollar pair has reached the key resistance zone 1.1904 – 1.1878 as part of the correction to the short-term downtrend. Now expect a sell pattern formation to enter a short trade with the target at the lower Target Zone 1.1800 – 1.1781. A breakout of today’s low and price consolidation below is required for the pattern formation.

Alternative buy scenario: a breakout of level 1.1904 will cause the trend reversal up. In this case, starting from the next trading session, it will be possible to start looking for purchases at strong support levels with a target at the upper Target Zone 1.2000 – 1.1983.

EURUSD trading ideas for today:

Open sell positions according to the pattern in 1.1904 – 1.1878. TakeProfit: Target Zone 1.1800 – 1.1781. StopLoss: according to the pattern rules.


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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

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Price chart of USCrude in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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