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Short-term analysis for oil, gold, and EURUSD for 26.05.2021

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 successfully reached its main buy target – Target Zone 2 1903-1898.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Oil is trading in a short-term uptrend. The growth target is the Target Zone 67.34 – 66.81. Yesterday, the price corrected and tested the Micro-zone 65.59 – 65.52. The zone was held and, as a result, the local high was updated.

A new Micro-zone 65.75 – 65.68 was drawn down from yesterday’s high. The correction has reached this support. The traders are now accumulating positions. To form a buy pattern, it is required to break out the resistance level of 66.01.

A breakout of level 65.57 and price consolidation below is required for oil sales. In this case, it will be possible to assume the development of the correction down to the Additional Zone 65.08 – 64.95.

USCrude trading ideas for today:

Buy according to the pattern in Micro-zone 65.75 – 65.68. TakeProfit: Target Zone 67.34 – 66.81. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis 

Gold has successfully reached its main buy target – Target Zone 2 1903-1898. Further growth will be possible if the zone is broken out and the pair consolidates above at the US session. In this case, the target will be the Gold Zone 1923 – 1921.

Now the bears are trying to start the gold price correction. If a corrective pattern develops, a test of the Additional Zone 1896 – 1895 can be expected. After testing the zone, focus on looking for a buy pattern. The purchase target will be the day’s high.

If the Additional Zone is broken out, then the correction will continue with the target in the Intermediary Zone 1885 – 1883.

XAUUSD trading ideas for today:

Buy according to the pattern in Additional Zone 1896 – 1895. TakeProfit: 1906. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis  

Yesterday, euro traders tried to break out the Target Zone 1.2245 – 1.2227. It didn’t work out the first time. If it works out today, then the next buy target within the short-term uptrend will be the Gold Zone 1.2324 – 1.2315.

It is reasonable to consider new euro purchases on correction at strong supports: Additional Zone 1.2222 – 1.2218 and Intermediary Zone 1.2178 – 1.2169. The trend border is at level 1.2164. The resistance level 1.2260 can be used as a buy target.

EURUSD trading ideas for today:

  1. Open buy positions according to the pattern in 1.2234 – 1.2218. TakeProfit: 1.2260, Gold Zone 1.2324 – 1.2315.

  2. Buy according to the pattern in Intermediary Zone 1.2178 – 1.2169. TakeProfit: 1.2260. 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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