Short-term analysis for oil, gold, and EURUSD for 21.05.2021

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 priority pattern for selling oil in the Additional Zone 63.39 – 63.26 yielded profits.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The priority pattern for selling oil in the Additional Zone 63.39 – 63.26 yielded profits. The Target Zone 61.69 – 61.16 was reached. The further decline within the short-term downtrend will depend on the traders’ ability to break out the Target Zone and consolidate the price below.

Since the trend remains down, today it is profitable to look for oil sales at strong resistances: Additional Zone 63.10 – 62.97 and Intermediary Zone 64.56 – 64.29. The target will be the local low.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 63.10 – 62.97. TakeProfit: 61.69. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 64.56 – 64.29. TakeProfit: 61.69. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis 

The short-term gold uptrend continues. Traders are now trying to break out the Gold Zone 1878 – 1876. If successful, the next target will be Target Zone 2 1903 – 1898.

Yesterday, traders tested the trend border 1867-1865. The price didn’t break it out. A “1-2-3” buy pattern has been formed today. It is reasonable to use this pattern and buy gold with a target in Target Zone 2.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1867 – 1865. TakeProfit: Target Zone 2 1903 – 1898. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

There haven’t been any single pattern to enter trades in the zone of 1.2208 – 1.2196. As a result, the resistance zone was broken out, and the euro price again reached Target Zone 1.2245 – 1.2227.

The Target Zone is a strong resistance. For further growth, traders need to consolidate the price above the zone at the US trading session. In this case, the target will be the Gold Zone 1.2324 – 1.2315.

The short-term trend’s border remains in the zone of 1.2157 – 1.2148.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.2157 – 1.2148. TakeProfit: 1.2245. 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 LiteForex. 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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