Technical analysis of US Crude, XAUUSD, and EURUSD for today (31 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.

Gold’s short-term uptrend continues, and the Additional Zone 1851 – 1849 is held.

The article covers the following subjects:

Oil Forecast for today: USCrude analysis

Oil’s short-term uptrend continues, with the Gold Zone 116.53 – 116.09 reached. For the price to continue growing, market participants need to consolidate above the Gold Zone. If so, the next buying target will be the Target Zone 121.34 – 120.47.

To open new longs, wait until the price corrects and tests strong support levels — the Additional Zone 115.26 – 115.04 and the Intermediary Zone 113.07 – 112.63. Once the margin zones are tested, wait for a pattern to form and open a long position with a target at today’s high.

Trading plan for USCrude for today:

  1. Buy according to the pattern from Additional Zone 115.26 – 115.04. TakeProfit: 117.40. StopLoss: according to pattern rules.

  2. Buy according to the pattern from Intermediary Zone 113.07 – 112.63. TakeProfit: 117.40. StopLoss: according to pattern rules.

Gold forecast for today: XAUUSD analysis

Gold’s short-term uptrend continues, and the Additional Zone 1851 – 1849 is held. So, long positions could be opened from that zone today. A stop loss order can be placed beyond today’s low if a relevant pattern forms. 

If 24 May’s high is updated, the Target Zone 1865 – 1858 may be broken. The next buying target will then be the Gold Zone 1898 – 1894.

If the Additional Zone is broken to the downside, the correction will continue with a target at the trend boundary 1833 – 1830. New long positions can be opened from that zone, too. 

Trading plan for XAUUSD for today:

  1. Buy according to the pattern from Additional Zone 1851 – 1849. TakeProfit: 1869. StopLoss: according to pattern rules.

  2. Buy according to the pattern from Intermediary Zone 1833 – 1830. TakeProfit: 1869. StopLoss: according to pattern rules.

Today’s forecast for the EURUSD: EURUSD analysis

Yesterday, market participants broke out the Target Zone 1.0752 – 1.0733. The next buying target is the Gold Zone 1.0839 – 1.0829. 

Today the pair has corrected and tested the Additional Zone 1.0738 – 1.0734 — a strong support level from which new longs can be opened with a target at yesterday’s high.

If the Additional Zone is broken to the downside, the correction might continue with a target at the trend boundary, 1.0697 – 1.0681. After the trend boundary is tested, we will consider new longs with the same targets, in the first place.

To sell the euro, market participants need to break out the trend boundary and consolidate below during the US session. In that case, the selling target will be the lower Target Zone 1.0594 – 1.0575. 

Trading plan for EURUSD for today:

  1. Buy according to the pattern from Additional Zone 1.0738 – 1.0734. TakeProfit: 1.0785. StopLoss: according to pattern rules.

  2. Buy according to the pattern from Intermediary Zone 1.0697 – 1.0681. TakeProfit: 1.0785. StopLoss: according to 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 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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