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Short-term analysis for oil, gold, and EURUSD for 18.06.2021

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.

As part of a strong gold downtrend, the price reached Target Zone 3 1768 – 1763.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Oil corrected to the short-term uptrend’s key support zone 70.08 – 69.82. The price didn’t break out the zone, therefore, the priority for searching for purchases remains. Now the buyers’ reaction to the test of the zone can be seen. To form a buy pattern, it is necessary to break out yesterday US trading session’s high and consolidate the price higher.

Oil sales require a trend reversal by breaking out level 69.23. In this case, look for short trades with a target in the lower Target Zone 67.43 – 66.90.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 70.08 – 69.82. TakeProfit: 72.57. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis 

As part of a strong gold downtrend, the price reached Target Zone 3 1768 – 1763. Sellers exited sales in the Target Zone 3, which led to a price correction up. The target of the correction is the test of the Intermediary Zone 1792 – 1789, which serves as the short-term downtrend’s border.

After the test of the Intermediary Zone, it will be profitable to look for new sales according to the pattern. The target will be yesterday’s low.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1792 – 1789. TakeProfit: 1768. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis  

Yesterday, the euro reached Target Zone 2 1.1914 – 1.1896 within a short-term downtrend. If the beforementioned TZ is broken out and the price closes lower at the US trading session, the next target for sales will be Gold Zone 2 1.1826 – 1.1817.

It is profitable to look for new euro sales at strong resistances according to the pattern. Additional Zone 1.1940 – 1.1935 and Intermediary Zone 1.1988 – 1.1979 are strong resistances. Take profit for possible sales should be set at yesterday’s low.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1940 – 1.1935. TakeProfit: 1.1893. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1.1988 – 1.1979. TakeProfit: 1.1893. StopLoss: according to the pattern rules.


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Price chart of XAUUSD 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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