Technical Analysis of US Crude, XAUUSD, and EURUSD for Today (May 6, 2025)
I welcome my fellow traders! I have made a price forecast for the USCrude, 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 euro is trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
- USCrude: oil is trading in an upward correction and piercing the resistance (A) 57.89 – 57.63.
- XAUUSD: gold has reversed its short-term downtrend.
- EURUSD: the euro is trading in an upward correction within the short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Today, oil has risen to the resistance (A) 57.89 – 57.63 during a correction within the short-term downtrend. However, the price has failed to break through this zone. Therefore, consider short trades near this resistance with the first target of 56.47 and the second one near 55.04.
If the asset pierces the resistance (A) today, the correction will continue to the trend boundary 59.32 – 58.93. Consider short trades near this zone.
USCrude Trading Ideas for Today:
Sell near resistance (A) 57.89 – 57.63. TakeProfit: 56.47, 55.04. StopLoss: 58.37.
Gold Forecast for Today: XAUUSD Analysis
Gold has reversed its short-term downtrend and has breached the resistance (B) 3325 – 3314. The next target is the upper Target Zone 3449 – 3426. Therefore, one may consider long trades today once the price tests the support (A) 3311 – 3304 or support (B) 3274 – 3263. The main target will be today’s high.
XAUUSD Trading Ideas for Today:
Buy near support (A) 3311 – 3304. TakeProfit: 3345, 3386. StopLoss: 3290.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. Yesterday, the price traded in an upward correction. Today, the correction may continue to the resistance (A) 1.1415 – 1.1401.
Once the resistance (A) is tested, consider short trades with the first target of 1.1340 and the second one near 1.1265.
If the asset breaks through the resistance (A) today, the correction may continue to the trend boundary 1.1490 – 1.1469.
EURUSD Trading Ideas for Today:
Sell near resistance (A) 1.1415 – 1.1401. TakeProfit: 1.1340, 1.1265. StopLoss: 1.1442.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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