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.
Gold will continue to grow.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price continues to trade in correction to the short-term downtrend. Resistance (A) 78.56 – 78.23 serves as a possible correction target. If this zone is tested, it will be possible to consider new sales with a target at the November 8 low.
If the November 8 low is updated, the fall will continue with the target in Target Zone 2 73.11 – 72.45.
If during trading the resistance (A) is broken out, then oil can reach the trend border in the zone of 80.38 – 79.88.
USCrude trading ideas for today:
Sell according to the pattern at resistance (A) 78.56 – 78.23. TakeProfit: 75.03. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (B) 80.38 – 79.88. TakeProfit: 75.03. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
Yesterday, market participants unsuccessfully tried to break out the key support of the short-term uptrend 1950 – 1945. Today, it is reasonable to consider long trades at the current prices with a target at the November 3 high. After updating the November 3 high, the next target will be the Target Zone 2017 – 2009.
If during trading the support (B) 1950 – 1945 is broken out downside and the price closes lower at the American trading session, the short-term trend will reverse down. In this case, consider gold sales with a target in the lower Target Zone 1892 – 1880.
XAUUSD trading ideas for today:
Buy according to the pattern at support (B) 1950 – 1945. TakeProfit: 2003. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro price is again testing the support (A) 1.0672 – 1.0663 of the short-term uptrend. If this zone is broken out downside, the correction will continue with the target at support (B) 1.0630 – 1.0617. It will be profitable to consider euro purchases in support (B) with a target at November 9 high.
If support (A) is held by traders and a buy pattern is formed, then open long trades with the target at November 9 high. After updating November 9 high, the next target will be November 6 high.
EURUSD trading ideas for today:
Buy according to the pattern at support (A) 1.0672 – 1.0663. TakeProfit: 1.0724. StopLoss: according to the pattern rules.
Buy according to the pattern at support (B) 1.0630 – 1.0617. TakeProfit: 1.0724. StopLoss: according to the pattern rules.
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Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.