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 trying to continue its short-term uptrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil may retest the resistance (B) 70.85 – 70.45.
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XAUUSD: gold is trading slightly above the key support 2634 – 2626.
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EURUSD: the euro is trying to continue rising to the target of 1.0597.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term downtrend. The price is approaching the key resistance 70.85 – 70.45. Once this zone is tested, one may consider short trades if the asset fails to exceed the November 22 high.
If the price settles above the November 22 high today, the short-term downtrend will reverse. In this case, the price may continue to grow to the target in the upper Target Zone 75.19 – 74.40.
USCrude Trading Ideas for Today:
Watch the market.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend. The price is struggling to break through the key support 2634 – 2626 within a downward correction. Therefore, long trades can be considered near this zone with the first target of 2673 and the second one near 2721.
If the asset pierces the support (B) 2634 – 2626 today and closes lower in the US trading session, the uptrend will reverse. In this case, consider short trades with the target in the lower Target Zone 2548 – 2531, starting from tomorrow.
XAUUSD Trading Ideas for Today:
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Buy above 2666. TakeProfit: 2721. StopLoss: 2650.
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Sell below 2620. TakeProfit: 2550. StopLoss: 2645.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trying to continue its short-term uptrend. The main upside target is the November 29 high near 1.0597. If the price consolidates above this high, the asset will likely try to break through the upper Target Zone 1.0636 – 1.0608. If so, the next bullish target will be the Gold Zone 1.0709 – 1.0700.
Consider long trades at the support (A) 1.0505 – 1.0496. A stop-loss order can be placed below today’s low. If the price settles below trend boundary 1.0459 – 1.0445, the uptrend will reverse.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0505 – 1.0496. TakeProfit: 1.0597. StopLoss: 1.0485.
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Price chart of EURUSD 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.
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