Short-term Analysis for Oil, Gold, and EURUSD for 11.11.2024

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 has reached its first bearish target today.

The article covers the following subjects:

Highlights and key points

  • USCrude: oil is trying to continue the downward movement with the target of 69.28.

  • XAUUSD: gold has reached its first bearish target near 2674 within the short-term downtrend.

  • EURUSD: the euro maintained its short-term downtrend on Friday. As a result, the price has approached the November 6 low.

Oil price forecast for today: USCrude analysis

On Friday, oil tested the short-term downtrend’s key resistance 72.01 – 71.51 again, but bears managed to hold the price below this zone. As a result, the quotes have declined. However, the asset failed to reach below the November 6 low. Therefore, if the growth starts, the price may pierce the key resistance and reverse the downtrend. In this case, consider long trades with the target in the upper Target Zone 77.45 – 76.46.

If oil breaks through and consolidates below the 69.28 level today, short trades with the target of 66.56 can be considered.

USCrude trading ideas for today:

  1. Sell below 69.28. TakeProfit: 66.56. StopLoss: 70.50.

  2. Buy above 72.00. TakeProfit: 74.20. StopLoss: 71.00.


Gold forecast for today: XAUUSD analysis

Today, gold has reached its first bearish target near 2674 within the short-term downtrend. The next target is the November 7 low. If the price falls below this low, the Target Zone 2625 – 2608 can be tested. If the quotes pierce the Target Zone, the asset may drop further to the Gold Zone 2570 – 2564.

If the price starts to climb today, the asset may exceed the November 8 high and break through the resistance (A). In this case, the quotes will likely test the key resistance 2738 – 2729.

XAUUSD trading ideas for today:

Hold up sales opened at resistance (A) 2706 – 2700. TakeProfit: 2643. StopLoss: at the breakeven.


Euro/Dollar forecast for today: EURUSD analysis

On Friday, the euro maintained its short-term downtrend. As a result, the price has reached its first bearish target near 1.0744 and approached the second one near 1.0682. Today, consider closing the remaining short trades at the current prices.

If the asset breaches the Gold Zone 1.0682 – 1.0670 today, the next target within the short-term trend will be the lower Target Zone 1.0570 – 1.0547. If the quotes increase today and break through the 1.0744 level, the correction may continue with the target above the November 7 high.

EURUSD trading ideas for today:

Watch the market.


P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance

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.

Rate this article:

{{value}} ( {{count}} {{title}} )

This post is originally published on LITEFINANCE.

  • Related Posts

    XAUUSD: Elliott Wave Analysis and Forecast for 22.11.24 – 29.11.24

    The article covers the following subjects: Major Takeaways Main scenario: Consider short positions from corrections below the level of 2792.90 with a target of 2418.82 – 2304.21. A sell signal:…

    WTI Crude Oil: Elliott Wave Analysis and Forecast for 22.11.24 – 29.11.24

    The article covers the following subjects: Major Takeaways Main scenario: Consider short positions from corrections below the level of 72.50 with a target of 61.50 – 53.60. A sell signal:…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Oil prices settle up 1% at 2-week high as Ukraine war intensifies

    • November 22, 2024
    Oil prices settle up 1% at 2-week high as Ukraine war intensifies

    COP29 climate summit overruns as $250 billion draft deal stalls

    • November 22, 2024
    COP29 climate summit overruns as $250 billion draft deal stalls

    SEC Fines Webull, Two Broker-Dealers for Compliance Failures

    • November 22, 2024
    SEC Fines Webull, Two Broker-Dealers for Compliance Failures

    SEC Fines Webull, Two Brokers-Dealers for Compliance Failures

    • November 22, 2024
    SEC Fines Webull, Two Brokers-Dealers for Compliance Failures

    Oil prices climb 1% to two-week high as Ukraine war intensifies

    • November 22, 2024
    Oil prices climb 1% to two-week high as Ukraine war intensifies

    Oil prices edge up to 2-week high as Ukraine war intensifies

    • November 22, 2024
    Oil prices edge up to 2-week high as Ukraine war intensifies