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Home CommoditiesForex Technical analysis for USCrude, XAUUSD, and EURUSD today (6 June 2024)

Technical analysis for USCrude, XAUUSD, and EURUSD today (6 June 2024)

by xyonent
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Gold 390.jpg

Welcome, fellow traders! I have combined the Margin Zone technique with technical analysis to create price predictions for USCrude, XAUUSD and EURUSD. Based on the market analysis, I suggest entry signals for day traders.

Gold hit resistance level (A) today.

This article covers the following subjects:

Today’s Oil Price Prediction: USCrude Analysis

Crude Oil is looking to maintain its upward correction and reach resistance (A) at 75.74 – 75.44. If the price reaches this area, consider a short trade within the short-term downtrend with a target of the June 4 low. If Crude Oil breaks below the June 4 low, the next bearish target will be within Target Zone 2, 71.11 – 70.51.

In another scenario, if resistance (A) is broken from below today, it suggests that the correction will continue to resistance (B) 77.39 – 76.94. This area provides a trend boundary. You can also initiate a short trade at this area.

US Crude Oil Trading Ideas Today:

  1. Resistance (A) Sell according to the pattern 75.74 – 75.44. TakeProfit: 72.51. StopLoss: Follows pattern rules.

  2. Resistance (B) Sell according to the pattern 77.39 – 76.94. TakeProfit: 72.51. StopLoss: according to the pattern rules.


Today’s Gold Forecast: XAUUSD Analysis

Today, gold touched the resistance (A) at 2369 – 2364. In this context, consider a short trade within the short-term downtrend with the main target near the low of June 3. The opened trade can be partially closed near 2342.

If the gold price breaks through the resistance (A) today, the correction will proceed to the trend boundaries of 2397 to 2389. If a reversal pattern emerges, consider selling gold in this area.

XAUUSD Trading Ideas for Today:

  1. Resistance (A) Sell according to the pattern 2369 – 2364. TakeProfit: 2342, 2315. StopLoss: Follows pattern rules.

  2. Resistance (B) Sell according to the pattern: 2397 – 2389. TakeProfit: 2342, 2315. StopLoss: Follows pattern rules.


Today’s Euro/Dollar Forecast: EURUSD Analysis

Yesterday, the EURUSD pair failed to break through the additional zone 1.0874-1.0869. After that, the short-term uptrend continued and reached the first bullish target at 1.0893 area. The next target is the high of June 4. If the price stabilizes above this level, the new growth target will be the gold zone 1.0945-1.0937.

However, if the additional zone is broken today, the correction will extend to the support (A) of 1.0832 – 1.0823. This support is one of the important levels, so if the price reaches there, you can also consider a long trade.

Today’s EURUSD Trading Ideas:

  1. Buy hold at support 1.0874 – 1.0869. Take Profit: 1.0915. Stop Loss: Breakeven.

  2. Support (A) Buy following the pattern at 1.0832 – 1.0823. Take Profit: 1.0915. Stop Loss: Follows the pattern rules.


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If you have any questions or comments, please leave them below and we’ll be happy to answer your questions and provide any clarification you need.

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XAUUSD price chart in real time mode

The contents of this article reflect the opinions of the author and do not necessarily reflect the official views of LiteFinance. The material published on this page is for informational purposes only and should not be considered as the provision of investment advice within the purposes of Directive 2004/39/EC.

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