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.

Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.

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Price chart of XAUUSD in real time mode