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 trading in a short-term downtrend.
The article covers the following subjects:
Major Takeaways
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USCrude: oil has fallen below the October 29 low. All targets within the short-term downtrend have been reached.
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XAUUSD: gold has tested the resistance (A) 2600 -2594. Consider short trades near this zone.
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EURUSD: the euro continues to move downward. Consider short trades on a correction.
Oil Price Forecast for Today: USCrude Analysis
Oil has reached all bearish targets within the short-term downtrend today. The price has dropped below the October 29 low. The next target can be the Gold Zone 65.93 – 65.63.
Consider short trades on a correction at the strong resistances. The resistance (A) 69.84 – 69.54 is the nearest. Once the price hits this zone, consider short trades with the first target of 68.18 and the second one near today’s low of 66.51.
USCrude Trading Ideas for Today:
Sell at resistance (A) 69.84 – 69.54. TakeProfit: 68.18, 66.51. StopLoss: 70.44.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within the short-term downtrend. Today, the price has tested the resistance (A) 2600 – 2594. Consider short trades near this zone with the first target of 2568 and the second one near 2536.
If the price pierces the resistance (A) from below today, the correction will continue to the resistance (B) 2631 – 2623, the short-term downtrend’s boundary. Therefore, once this zone is reached, one may consider short trades.
XAUUSD Trading Ideas for Today:
Sell at resistance (A) 2600 – 2594. TakeProfit: 2568, 2536. StopLoss: 2611.
Euro/Dollar Forecast for Today: EURUSD Analysis
As of Monday morning, the euro is still trading in a short-term downtrend. The main target within the trend is the Gold Zone 1.0458 – 1.0446. Consider short trades at the resistance (A) 1.0619 – 1.0608 and resistance (B) 1.0681 – 1.0664. Once these zones are reached, consider short trades with the first target of 1.0557 and the second one at the November 14 low.
The price should break through the 1.0681 level to allow traders to open long trades and reverse the downtrend.
EURUSD Trading Ideas for Today:
Sell at resistance (A) 1.0619 – 1.0608. TakeProfit: 1.0557, 1.0496. StopLoss: 1.0640.
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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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