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Short-term analysis for oil, gold, and EURUSD for 17.06.2021

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 false breakout sell pattern in the Additional Zone 1.2141 – 1.2136 yielded profits.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, after the Micro-zone 71.87 – 71.81 yielded profits according to the recommendation and the local high was updated the oil price went into correction. As a result, the Additional Zone 71.41 – 71.27, which serves as a strong support, was reached. It is possible to enter purchases according to the pattern in the beforementioned AZ. The target for purchases will be level 72.57.

If the Additional zone is broken out during today’s trading session, then it will be possible to consider sales with a target in the Intermediary Zone 70.08 – 69.82.

USCrude trading ideas for today:

Buy according to the pattern in Additional Zone 71.41 – 71.27. TakeProfit: 72.57. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis 

The gold sell pattern yielded profits with a target at level 1845. As a result, the June 14 low was updated. The Gold Zone 1835 – 1833 and Target Zone 2 1813 – 1808 were also reached.

Now traders are testing Target Zone 2 in order to break it out and consolidate the price below. If successful, the downtrend will continue, and the Gold Zone 2 1790 – 1788 will become the target for taking profits.

Enter new gold sales on corrections at strong resistances, for example, the Additional Zone 1828 – 1826.

XAUUSD trading ideas for today:

Sell according to the pattern in Additional Zone 1828 – 1826. TakeProfit: 1804. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis  

The euro false breakout sell pattern in the Additional Zone 1.2141 – 1.2136 yielded profits. Level 1.2096 has been tested. The Target Zone 1.2090 – 1.2072 was broken out. As a result, the price reached the Gold Zone 1.2002 – 1.1993.

Now the bears are trying to break out the Gold Zone and lower the price to the Target Zone 2 1.1914 – 1.1896.

It is reasonable to consider new euro sales on corrections at strong resistances. The first significant resistance is the Additional Zone 1.2021 – 1.2017. The short-term downtrend’s border is located at the levels 1.2070 – 1.2061.

EURUSD trading ideas for today:

Sell according to the pattern in Additional Zone 1.2021 – 1.2017. TakeProfit: 1.1975. 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 EURUSD 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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