Technical analysis of US Crude, XAUUSD, and EURUSD for today (10 May 2022)


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, the short-term oil trend reversed down after breaking out the Intermediary Zone 105.93 – 105.49.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the short-term oil trend reversed down after breaking out the Intermediary Zone 105.93 – 105.49. As a result, traders reached the lower Target Zone 101.56 – 100.68.

Today, sellers unsuccessfully tried to break out the abovementioned Target Zone. As a result, the price went into correction. As part of the correction, the price is testing the Additional Zone 101.79 – 101.57, which serves as a strong resistance level. It is possible to consider new sales in the beforementioned AZ with the target at today’s low.

The trend key resistance is shifting to the zone of 104.20 – 103.76. If this zone is tested, look for sales according to the pattern.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 101.79 – 101.57. TakeProfit: 99.51. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 104.20 – 103.76. TakeProfit: 99.51. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

The short-term gold downtrend continued yesterday. As a result, the price reached the Target Zone 1854 – 1847. This support has not been broken out, so no further decline is expected yet. In order for the price to decline to the Gold Zone 1818 – 1814, it is necessary to close today’s American session below level 1847.

It is profitable to consider new sales on correction at strong resistance levels, Additional Zone 1870 – 1869 and Intermediary Zone 1891 – 1887. Focus on the day’s low as a target.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1870 – 1869. TakeProfit: 1852. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1891 – 1887. TakeProfit: 1852. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The short-term euro uptrend continues, despite the attempts of sellers to break out the Intermediary Zone 1.0545 – 1.0536 and consolidate the price lower. Because yesterday the IZ was again held, today consider long trades according to the pattern with the first target at May 5 high and with the second target in the upper Target Zone 1.0682 – 1.0663. To form a buy pattern, traders need to break out yesterday’s high and consolidate the price higher.

Sales require price consolidation in the American session below level 1.0536. In this case, the trend will reverse down, so consider short positions in the lower Target Zone 1.0449 – 1.0430.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0545 – 1.0536. TakeProfit: 1.0640, Target Zone 1.0682 – 1.0663. StopLoss: according to the pattern rules.


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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 LiteFinance. 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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