Technical analysis of US Crude, XAUUSD, and EURUSD for today (24 May, 2022)


Hello, my fellow traders! Here’s my forecast for US Crude, XAUUSD, and EURUSD made using margin zones and classical technical analysis. Based on this analysis, I made a list of entry signals for intraday traders.

Trending up in the short term, gold reached the Target Zone 1865 – 1858 yesterday.

The article covers the following subjects:

Oil Forecast for today: US Crude analysis

Oil prices have corrected. Traders tested the Additional Zone 109.03 – 108.82 yesterday. Today, sellers are trying to break that zone out and consolidate below. If they succeed, the correction will continue with a target of 106.85 – 106.41 at the trend’s boundary.

Once the trend boundary is tested, I suggest considering a pattern to buy. If it occurs, we could open long positions in oil with the first target at yesterday’s high. A second growth target will be the upper Target Zone 112.59 – 111.72.

For the trend to reverse down, market participants have to consolidate below 106.41 during the US session.

Trading plan for USCrude for today:

Buy according to the pattern from Intermediary Zone 106.35 – 105.92. TakeProfit: 110.60, Target Zone 112.59 – 111.72. StopLoss: according to pattern rules.

Gold forecast for today: XAUUSD analysis

Trending up in the short term, gold reached the Target Zone 1865 – 1858 and settled there yesterday. The price then corrected and tested the Additional Zone 1847 – 1845. The Additional Zone was also held, and the quotes are currently rising. The growth target is yesterday’s high.

If it’s updated, the price can be expected to consolidate above the Target Zone. The next buying target will then be the Gold Zone 1898 – 1894.

The short-term uptrend’s boundary will move to 1829 – 1825.

Trading plan for XAUUSD for today:

  1. Buy according to the pattern from Additional Zone 1847 – 1845. TakeProfit: 1864. StopLoss: according to pattern rules.

  2. Buy according to the pattern from Intermediary Zone 1829 – 1825. TakeProfit: 1864. StopLoss: according to pattern rules.

Today’s forecast for the EURUSD: EURUSD analysis

The single European currency continues strengthening against the US dollar. The short-term trend is ascending. The growth target is the Target Zone 2 at 1.0752 – 1.0733. If the price breaks out the Target Zone 2, the next target will be the Golden Zone 2 at 1.0839 – 1.0829.

New longs could be opened on corrections from strong support levels, such as the Additional Zone 1.0672 – 1.0667 and the Intermediary Zone 1.0624 – 1.0615. The Intermediary Zone serves as the short-term uptrend’s limit.

If the Intermediary Zone is broken out to the downside and the price consolidates below, the trend will reverse down. We will then consider short trades. 

Trading plan for EURUSD for today:

  1. Buy according to the pattern from Additional Zone 1.0672 – 1.0667. TakeProfit: Target Zone 2, 1.0752 – 1.0733. StopLoss: according to pattern rules.

  2. Buy according to the pattern from Intermediary Zone 1.0624 – 1.0615. TakeProfit: Target Zone 2, 1.0752 – 1.0733. StopLoss: according to 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 XAUUSD 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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