Technical analysis of US Crude, XAUUSD, and EURUSD for today (5 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.

After the release of the Fed’s decision on the interest rate, the dollar weakened against other currencies.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil trend reversed up yesterday. The Intermediary Zone 104.34 – 103.90 was broken out. Now the upper Target Zone 109.15 – 108.27 serves as the target for purchases.

Look for new oil purchases on correction at strong support levels, the Additional Zone 105.77 – 105.55 and the Intermediary Zone 103.58 – 103.14. To open a trade, wait for a support level test and look for the corresponding pattern. Focus on today’s high as the first target for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 105.77 – 105.55. TakeProfit: 107.85, Target Zone 109.15 – 108.27. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 103.58 – 103.14. TakeProfit: 107.85, Target Zone 109.15 – 108.27. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Yesterday, the gold price corrected in ​​the Intermediary Zone 1890 – 1886. It closed below the resistance level at the American trading session. Thus, the price didn’t break out the margin zone.

However, today at the Asian session, traders tried to break out the Intermediary Zone and consolidate the price higher. If the price consolidates above the zone during the European trading session, the trend will reverse up. In this case, consider purchases with a target in the upper Target Zone 1929 – 1922.

If the price returns below the Intermediary Zone and consolidates there, the short-term downtrend will continue. In this case, consider entering short trades with a target at May 3 low.

XAUUSD trading ideas for today:

Aggressively: buy according to the pattern in Intermediary Zone 1890 – 1886. TakeProfit: Target Zone 1929 – 1922. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Yesterday, after the release of the Fed’s decision on the interest rate, the EURUSD broke out the Intermediary Zone 1.0576 – 1.0567. Thus, the short-term trend reversed up. Now the target for purchases is the upper Target Zone 1.0682 – 1.0663. It is profitable to look for purchases on the retest of the broken out Intermediary Zone. Place a stop loss at the level of 1.0540.

To enter sales, traders need to break out the Gold Zone and consolidate the price lower. In this case, consider short trades with the target at the Target Zone 4 1.0416 – 1.0397.

EURUSD trading ideas for today:

Buy in the zone of 1.0576 – 1.0567. TakeProfit: Target Zone 1.0682 – 1.0663. StopLoss: 1.0540.


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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.

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