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Technical analysis of US Crude, XAUUSD, and EURUSD for today (17 June 2022)

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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.

Yesterday, the short-term euro trend reversed up.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the sellers tried to break out the Target Zone 112.97 – 112.14, but unsuccessfully. At the end of the American trading session, the price reached the Intermediary Zone 114.91 – 114.49. It was also held, so the short-term oil downtrend continues.

Today, the task of traders is to search for sales according to the pattern with the target at yesterday’s low. If yesterday’s low is updated, the Target Zone will be broken out. Thus, the Gold Zone 108.80 – 108.38 will be the new target for sales.

If, during trading, the Intermediary Zone is broken out upside and the price closes higher in the American session, the short-term trend will reverse up. In this case, look for long oil trades with the target in the upper Target Zone 119.50 – 118.67.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 114.91 – 114.49. TakeProfit: 110.39. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

The short-term gold trend reversed up yesterday. The Intermediary Zone 1844 – 1841 was broken out. Now the target for purchases is the upper Target Zone 1884 – 1877.

At the moment, the price is correcting and approaching the Additional Zone 1839 – 1837. After testing the AZ, consider purchases according to the pattern with a target at yesterday’s high.

If the Additional Zone is broken out downside during trading, the correction will continue with the target in the Intermediary Zone 1820 – 1817. After the IZ test, which serves as the border of a short-term uptrend, also look for purchases.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1839 – 1837. TakeProfit: 1857. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1820 – 1817. TakeProfit: 1857. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

Yesterday, the short-term euro trend reversed up. As a result, the price reached the upper Target Zone 1.0570 – 1.0550. Traders also tried to break out the upper TZ, but unsuccessfully.

Today the price is correcting and testing the Intermediary Zone 1.0505 – 1.0495. The IZ serves as the border of a new uptrend. Consider purchases in this IZ with a target at yesterday’s high.

To enter euro sales, traders need to consolidate the price in the American session below the Intermediary Zone. In this case, the short-term trend will reverse down. So look for sales with the target in the lower Target Zone 1.0409 – 1.0390.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0505 – 1.0495. TakeProfit: 1.0600. StopLoss: according to the pattern rules.


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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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