The EURJPY pair reached %23.6 Fibonacci correction level at 182.00, to form strong support to provide chances for recovering some losses by its rally near 183.70 level.

In general, the bearish scenario will remain valid depending on forming main barrier by 185.45 level against the current trading, which makes us wait for gathering negative momentum, which allows it to renew the negative attempts that might target 182.80 level, to attempt to renew the pressure on 182.00 support, while breaching the main barrier and holding above it will confirm its move to a positive station, to begin targeting several positive stations by its rally towards 186.00 and 186.60.

The expected trading range for today is between 182.80 and 184.30

Trend forecast: Bearish

Platinum price managed to settle above the moving average 55, confirming the attempt of activating the bullish trend again, to hit $2075.00 level, approaching the previously suggested initial main target.

Surpassing $2080.00 level, to open the way for resuming the bullish trend, to reach $2120.00, to extend the trading towards the next main target near $2190.00, note that the rise of changing the trend and forming bearish waves depends on breaking the support level at $1865.00.

The expected trading range for today is between $2020.00 and $2120.00

Trend forecast: Bullish

Domestic coffee prices today

The domestic coffee market this morning, May 7, witnessed an impressive breakthrough session in the Central Highlands provinces.

According to the latest data, the average purchase price of the whole region has increased by 1,000 VND/kg, officially exceeding the threshold of 87,000 VND/kg.

Specifically, in Dak Nong province (old), coffee prices increased the most with 1,100 VND, reaching 87,300 VND/kg.

Dak Lak and Gia Lai provinces both recorded an increase of 1,000 VND, currently trading stably at 87,000 VND/kg.

The Lam Dong area alone listed the price at 86,500 VND/kg after recovering by 1,000 VND compared to yesterday’s session. Meanwhile, pepper prices remained stable at 143,000 VND/kg and the USD/VND exchange rate at Vietcombank decreased slightly by 10 VND to 26,088 VND/USD.

World coffee prices

Developments in the international market last night recorded mixed differentiation between the two futures exchanges.

The London exchange became the main driver for domestic coffee prices when Robusta futures in July surged by another 35 USD (equivalent to 1.04%), reaching 3,413 USD/ton.

Conversely, the New York exchange sank into red when Arabica prices fell sharply by 5.90 cents (equivalent to 2.04%), falling to 283.85 cents/lb. Arabica’s decline stems from optimistic signals about the possibility of ending the US-Iran conflict, which opens up expectations that the Strait of Hormuz will soon be cleared again, helping to relieve global logistics pressure.

Coffee price assessment

Despite cooling geopolitical news, factors tightening supply in reality are still a solid pillar for coffee prices. Robusta inventories on the ICE exchange fell to a record low of 16.25 months (only 3,755 lots), while Arabica inventories also hit a 2.5-month low.

In addition, Brazil’s Real continued to maintain its strength at its highest level in 2.25 years against the USD, causing Brazilian farmers to limit export sales due to unfavorable exchange rate differences. These factors compensated for the pressure from the Vietnam’s export report in the first 4 months of the year increasing sharply by 15.8% (reaching 810,000 tons) and the forecast of a global surplus of 10 million sacks of StoneX.

The market is currently in an extremely sensitive phase when “good news” about geopolitics is “bad news” for prices due to reduced insurance and transportation costs. However, with stockpiles on the London exchange running out, Robusta’s upward momentum still has considerable room in the short term.

2026.05.07 2026.05.07
Short-Term Analysis for Oil, Gold, and EURUSD for 07.05.2026

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

Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.

Gold is trading in a bullish correction within the short-term downtrend.

Major Takeaways

• USCrude: Oil turned downward yesterday.
• XAUUSD: Gold has reached the resistance B of 4,734–4,713 during a correction.
• EURUSD: The euro has bounced off the support B of 1.1687–1.1670.

Oil Price Forecast for Today: USCrude Analysis

Oil’s short-term trend turned bearish yesterday. The price broke below the key support of 99.24–98.43 and reached the lower Target Zone of 91.15–89.53. After that, major market participants started closing their short trades, causing an upward correction.

During the correction, the oil price tested the resistance A of 92.82–92.28, but bears managed to keep the asset below this zone. Today, the price may continue to fall. Consequently, consider short trades with the first target at 89.85 and the second one around 86.89.

USCrude Trading Ideas for Today:

Sell near resistance A of 92.82–92.28. TakeProfit: 89.85, 86.89. StopLoss: 94.70.

Gold Forecast for Today: XAUUSD Analysis

Gold is trading in a correction within a short-term downtrend. Yesterday, the price pierced resistance A at 4,656–4,642 and reached resistance B at 4,734–4,713, the upper boundary of the trend. Consider short trades near this zone, with the first target at 4,617 and the second one at 4,500.

If the gold price breaks above resistance B, the downtrend will reverse. In this case, consider long trades, with the target in the upper Target Zone of 4,968–4,925.

XAUUSD Trading Ideas for Today:

Sell near resistance B of 4,734–4,713. TakeProfit: 4,617, 4,500. StopLoss: 4,788.

Euro/Dollar Forecast for Today: EURUSD Analysis

The euro extended its short-term uptrend yesterday. Bulls managed to hold the support B of 1.1687–1.1670, and the price reached the first upside target of 1.1760. If the price breaks above this level, the next upside target will be at 1.1849. Should the asset rise even higher, it may climb to the Target Zone 2 of 1.1972–1.1950.

If the euro price settles below the support B, the trend will shift to a downtrend. In this case, consider short trades, with the target in the lower Target Zone of 1.1525–1.1492.

EURUSD Trading Ideas for Today:

Watch the market.

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Price chart of XAUUSD in real time mode

Despite the neediness of coffee price to the positive momentum in the last period, its stability above 276.00 support helped to provide a chance for activating the previously suggested bullish trend, surpassing 295.00 level makes us begin targeting some positive stations by its rally towards 313.00 reaching 66.8%Fibonacci correction level at 329.60.

Facing new negative pressures and breaking the current support will force it to suffer several losses, to expect to reach 257.00 initially followed by 233.40 level.

The expected trading range for today is between 282.00 and 313.00

Trend forecast: Bullish

Copper price began this morning with strong positivity, to rally above $5.9700 level, taking advantage of the attempt to provide positive momentum by the main indicators, to settle near $6.0080.

Providing a positive close above the breached barrier is important to confirm its readiness to activate the bullish trend, to expect targeting $6.1200 and $6.2500 level initially, while activating the corrective trend requires providing negative close below $5.8100.

The expected trading range for today is between $5.8700 and $6.1200

Trend forecast: Bullish

Domestic coffee prices today

The domestic coffee market this morning, May 6, recorded a positive recovery after a series of gloomy days.

In key growing areas of the Central Highlands, purchasing prices simultaneously increased by 400 to 500 VND/kg, bringing the average price level of the whole region to the threshold of 86.100 VND/kg.

Specifically, in Dak Nong province (old), coffee prices recorded an increase of 500 VND, pushing the purchase price to the milestone of 86.2 million VND/kg, continuing to be the locality with the highest price in the region.

Dak Lak and Gia Lai provinces both had an increase of 400 VND, currently trading stably at 86,000 VND/kg.

Riêng khu vực Lâm Đồng niêm yết mức giá 85. 500 đồng/kg sau khi hồi phục thêm 500 đồng so với phiên hôm qua. Bên cạnh đó, giá hồ tiêu tiếp tục đi ngang ở mức cao 143. 000 đồng/kg, trong khi tỷ giá USD/VND tại Vietcombank giảm nhẹ 8 đồng về mức 26. 098 VND/USD.

World coffee prices

In the international market, the New York exchange became the focus when Arabica prices strongly broke through to the highest level in the past week.

At the end of the trading session, the July term increased by 4.25 cents (equivalent to 1.49%), closing at 289.75 cents/lb.

Following the same trend, Robusta prices in London also maintained green when increasing by another 14 USD (equivalent to 0.42%), reaching the 3,378 USD/ton mark. This recovery shows that the market is reacting very sensitively to fluctuations from the money market and the world geopolitical situation.

Coffee price assessment

The main driving force pushing coffee prices up comes from the resonance of many macroeconomic factors. Brazil’s Real has jumped to its highest level in 2.25 years against the USD, directly putting pressure on Brazilian farmers to limit export sales because they earn less domestic currency.

At the same time, the prolonged blockade in the Strait of Hormuz due to Middle East tensions is still disrupting the global supply chain, pushing transportation costs, insurance and especially fertilizer prices to skyrocket. In addition, Arabica inventories on the ICE exchange anchored at a 2.25-month low and Robusta inventories maintained at a record low of 16.25 months (3,755 lots) are also important pillars helping prices escape the short-term bottom.

However, the breakthrough momentum of coffee prices still faces a major resistance from forecasts of a nearing super surplus crop year. Organizations such as StoneX and Marex still maintain their assessment of a record harvest in Brazil with an expected output of up to 75.9 million bags, which could lead to a global surplus of 10 million bags for 2026. In Vietnam, export data for the first 4 months of the year increased sharply by 15.8% to 810,000 tons, also contributing to easing concerns about short-term Robusta supply in the international market.

As I’m watching this three-day short-covering rally develop, I’m already planning for the pullback. That’s the move I’ll be watching for because that’s when the new buyers tend to show up. If they believe in the rally then they’re going to buy the first correction because they have the bottom at $2.592 to lean on. They aren’t trying to pick the bottom, but they will buy if they see an exit.

If buyers do come in on the first pullback then a secondary higher bottom could form, setting in motion the chances of an even steeper rally. The second rally is usually strong because it’s driven by short-covering and new buying. So this is our near-term plan.

The current near-term range is $2.905 to $2.592. Its pivot is $2.749. I’ll be watching this level to see if a test attracts new buyers.

Our current near-term targets are a minor top at $2.905 and the 50-day moving average at $2.987. The latter is critical because it is resistance, a trend indicator and a potential trigger point for an acceleration to the upside. Overcoming the 50-day MA could extend the rally further into an intermediate 50% level at $3.107.

Essentially, over the short-run we’re not chasing the first leg up, but we will be looking for a 50% pullback of the short-covering rally and playing for a secondary higher bottom formation to fuel an even bigger rally over the near-term.

Weather Gave the Bulls a Session

Below-normal temperatures are sitting across the Midwest through May 13 and that is what got the buyers off the sideline Monday. Cooler forecasts at this time of year pull in heating demand when the market was expecting none. Lower-48 gas consumption came in at 65.5 Bcf per day Monday, up 7.0% year over year. That number tells you the weather is already influencing usage. It is not enough to flip the fundamental picture but it gave traders a reason to cover shorts after April’s beating and that was enough to run the market 3% in a session.