Technical analysis of US Crude, XAUUSD, and EURUSD for today (6 April 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 short-term oil downtrend continues.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil downtrend continues. Yesterday, the price fell, and the trading session closed it below level 102.26. Today consider sales according to the pattern with a target at April 1 low.

If the Target Zone 96.93 – 95.86 is broken out downside, the next target will be the Gold Zone 91.56 – 91.02.

To enter oil purchases, traders need to consolidate the price above level 102.80. This will cause the breakout of key resistance and the trend reversal up.

USCrude trading ideas for today:

Sell according to the pattern/hold sell trades entered in the Intermediary Zone 102.80 – 102.26. TakeProfit: 96.93. StopLoss: 104.70.


Gold price forecast for today: XAUUSD analysis

Gold is once again testing the zone of good buy prices 1931 – 1910. While buyers hold this zone, consider long trades with the first target at March 31 high. The second target for purchases will be the upper Target Zone 1969 – 1962.

To enter sales and reverse the trend, traders need to break out the key support of 1910 and consolidate the price lower. In this case, from the next trading day, look for short trades with the main target in the lower Target Zone 1877 – 1870.

XAUUSD trading ideas for today:

Open buy positions according to the pattern in the zone of 1931 – 1910. TakeProfit: 1949, Target Zone 1969 – 1962. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

The euro price continues to decline. Yesterday, the Target Zone 1.0992 – 1.0973 was broken out. Today traders reached the Gold Zone 1.0896 – 1.0887. If the GZ is broken out and the price consolidates below, the next target for sales will be the Target Zone 2 1.0800 – 1.0781.

Consider new euro sales on correction at strong resistance levels, the Additional Zone 1.0927 – 1.0922 and the Intermediary Zone 1.0980 – 1.0970. The latter serves as the border of a short-term downtrend.

To open sales, wait for a test of the levels indicated above and look for the corresponding pattern.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.0927 – 1.0922. TakeProfit: 1.0877. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1.0980 – 1.0970. TakeProfit: 1.0877. 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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