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Technical analysis of US Crude, XAUUSD, and EURUSD for today (20 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.

The short-term gold uptrend continues. Its goal is to reach the upper Target Zone 1884 – 1877.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil downtrend continues, within which the Gold Zone 108.80 – 108.38 was reached last week. The GZ has not been broken out, so do not expect a further USCrude fall yet.

A correction is currently unfolding. As part of the correction, traders reached an Additional Zone 108.47 – 108.26. This is the first serious resistance ahead of the price. Therefore, consider short trades in this zone with a target at last Friday’s low.

If the AZ is broken out upside, the correction will continue up to the Intermediary Zone 110.76 – 110.35. The IZ serves as the trend border. Therefore, after reaching it, also look for sales.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 108.47 – 108.26. TakeProfit: 106.24. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 110.76 – 110.35. TakeProfit: 106.24. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

The short-term gold uptrend continues. Its goal is to reach the upper Target Zone 1884 – 1877. On Friday, a correction began within which traders tested strong support, the Additional Zone 1839 – 1837. The zone was held, so today it is relevant to search for purchases according to the pattern in this zone today.

If the Additional Zone is broken out downside during today’s trading, the correction will continue with the target in the Intermediary Zone in 1821 – 1817. The IZ serves as the trend’s border. After reaching it, also look for purchases. The first target for purchases will be June 16 high.

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 1821 – 1817. TakeProfit: 1857. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis

After buyers failed to break out the upper Target Zone 1.0570 – 1.0550, the price corrected and tested the Intermediary Zone 1.0505 – 1.0495. On Friday, the IZ was broken out. However, at the close of the American trading session, the price returned to this support level. That is, the zone was held, and the short-term euro uptrend continued.

Today, consider long trades according to the pattern in the Intermediary Zone with the target at June 16 high.

If the Intermediary Zone is broken out during trading and the price consolidates lower in the American trading session, the short-term trend will reverse down. In this case, consider euro 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 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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