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 oil short-term downtrend continues on Monday morning.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil short-term downtrend continues. The downside target is Target Zone 2, 73.11 – 72.45. It is beneficial to sell on the correction to resistance (А) 78.65 – 78.23 or resistance (В) 80.38 – 79.88. An intermediary sell target is the low of November 8.
If the oil price breaks out resistance (B) and consolidates above, the short-term trend will turn up, and it will be relevant to buy. If so, the upside target will be in the upper Target Zone 85.82 – 84.83.
USCrude trading ideas for today:
Sell according to the pattern at resistance (А) 78.56 – 78.23. TakeProfit: 75.03. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 80.38 – 79.88. TakeProfit: 75.03. StopLoss: according to the pattern rules.
Gold forecast for today: XAUUSD analysis
The gold short-term trend turned down last Friday. The price broke out support (В) 1950 – 1945. The downside target is now the lower Target Zone 1892 – 1880. It is relevant to enter new sell trades on the correction to resistance (А) 1962 – 1958.
If the price tests resistance (A), enter a sell trade when a reversal pattern emerges. The first downside target, in this case, will be today’s low.
XAUUSD trading ideas for today:
Sell according to the pattern at resistance (А) 1962 – 1958. TakeProfit: 1920. StopLoss: according to the pattern rules.
Sell according to the pattern at resistance (В) 1983 – 1977. TakeProfit: 1920. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The EURSUD is trading up in the short term. Last week, the price tested support (А) 1.0672 – 1.0663 but didn’t break it out. This week, it is relevant to buy in the first support zone. The upside target will be the high of November 6. If the price consolidates above the suggested high, the next upside target will be the Gold Zone 1.0828 – 1.0820.
If the price breaks out support (A), it will go down to support (В) 1.0630 – 1.0617. One could also enter purchases in the second support zone, which is the trend border.
EURUSD trading ideas for today:
Buy according to the pattern at support (А) 1.0672 – 1.0663. TakeProfit: 1.0724. StopLoss: according to the pattern rules.
Buy according to the pattern at support (В) 1.0630 – 1.0617. TakeProfit: 1.0724. StopLoss: according to the pattern rules.
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Price chart of USCRUDE 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.