Technical analysis of US Crude, XAUUSD, and EURUSD for today (30 May 2023)

2023.05.30 2023.05.30
Short-term analysis for oil, gold, and EURUSD for 30.05.2023

Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/

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 gold price is trading down in the short-term trend.

Oil price forecast for today: USCrude analysis

The oil price is going down to support (А) 71.79 – 71.50. Once this zone is tested, one could enter purchases up to the high of May 24. If the high of May 24 is broken through, the next upside target is the Gold Zone 75.85 — 75.56.

If the price goes below the low of May 25, it will test the trend key support 70.34 – 69.90. One could enter buy trades in the zone with a target at the high of May 24.

USCrude trading ideas for today:

1. Buy according to the pattern at support (А) 71.79 – 71.50. TakeProfit: 74.62. StopLoss: according to the pattern rules.

2. Buy according to the pattern at support (В) 70.34 – 69.90. TakeProfit: 74.62. StopLoss: according to the pattern rules.

Gold forecast for today: XAUUSD analysis

The gold price continues declining in the short-term downtrend. The price is due to break out the Target Zone 1956 – 1943. If the price consolidates below the TZ, the downside target will be the Gold Zone 1916 — 1912.

It is relevant to enter new shorts on the correction to resistance (A) 1978 – 1974 or resistance (В) 2001 – 1995. Before you enter a sell trade, expect the test of a resistance zone and a sell pattern. The first downside target is today’s low.

XAUUSD trading ideas for today:

1. Sell according to the pattern at resistance (А) 1978 – 1974. TakeProfit: 1932. StopLoss: according to the pattern rules.

2. Sell according to the pattern at resistance (В) 2001 – 1995. TakeProfit: 1932. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis

The EURUSD short-term downtrend continues. The price approaching the Gold Zone 1.0667 – 1.0657. After the GZ test, the price could be corrected up.

If the GZ is broken out and the price consolidates below, the next upside target is the Target Zone 1.0551 — 1.0529.

One could enter new sell trades on the correction to resistance (A) 1.0797 – 1.0787 or resistance (B) 1.0856 – 1.0840. When these zones are tested, there should be a sell pattern. In this case, one could enter a sell trade with a target at today’s low.

EURUSD trading ideas for today:

1. Sell according to the pattern at resistance (А) 1.0797 – 1.0787. TakeProfit: 1.0682. StopLoss: according to the pattern rules.

2. Sell according to the pattern at resistance (В) 1.0856 – 1.0840. TakeProfit: 1.0682. StopLoss: according to the pattern rules.

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Price chart of XAUUSD in real time mode