Technical analysis of US Crude, XAUUSD, and EURUSD for today (19 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.

The euro corrected into the short-term uptrend’s key support of 1.0467 – 1.0458.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the short-term oil trend reversed down. The Intermediary Zone 108.78 – 108.34 was broken out. Now the lower Target Zone 104.41 – 103.53 serves as the sales target.

A correction is currently developing with a target to test the trend key resistance of 109.48 – 109.05. After the test, consider new oil sales according to the pattern.

It is required to break out the Intermediary Zone 109.48 – 109.05 and consolidate the price in the American session higher to enter oil purchases.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 109.48 – 109.05. TakeProfit: Target Zone 104.41 – 103.53. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

Yesterday, traders once again tested the key resistance of the short-term downtrend 1826 – 1822. I recommended selling gold in this zone, with the first target at May 16 low and the second target in ​​the Target Zone 1782 – 1775. As a result, the resistance was held. Now the price is falling towards the targets outlined above.

If the Intermediary Zone 1826 – 1822 is broken out upside, expect the price to consolidate at the American session. In case of consolidating above the Intermediary Zone, the short-term trend will reverse up. In this case, switch to gold purchases with the target in the upper Target Zone 1865 – 1858.

XAUUSD trading ideas for today:

Hold sell trades entered in Intermediary Zone 1826 – 1822. TakeProfit: 1787. StopLoss: 1834.

Euro/Dollar forecast for today: EURUSD analysis

The euro corrected into the short-term uptrend’s key support of 1.0467 – 1.0458. In the Asian session today the first buyers’ reaction to the test of key support occurred. I suggest monitoring further progress at the European session. If the corresponding pattern appears, open a long trade with a target at yesterday’s high.

If the Intermediary Zone is broken out downside and the price closes lower in the American session during trading, the short-term trend will reverse down. In this case, from tomorrow, look for euro sales with the target in the lower Target Zone 1.0371 – 1.0352.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0467 – 1.0458. TakeProfit: 1.0562. StopLoss: according to the pattern rules.

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

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

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

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 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.

Rate this article:

value ( count title )

Source link

Leave a Reply

Your email address will not be published.