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.
Yesterday, oil reached the resistance (A) 69.84 – 69.54.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trading in a short-term downtrend and is testing the resistance (A) 69.84 – 69.54.
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XAUUSD: gold is testing the resistance (B) 2631 – 2623. Consider short trades near this zone.
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EURUSD: the euro is trading in an upward correction within the short-term downtrend.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil reached the resistance (A) 69.84 – 69.54 but remained below this zone. Thus, today, the quotes may decline to the first target of 68.18 and the second one near 66.51.
If the price grows and breaks through the resistance (A), the correction will continue to the resistance (B) 71.51 – 71.05, the short-term downtrend’s boundary. Consider short trades near this zone.
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 testing the short-term downtrend’s key resistance 2631 – 2623. Consider short trades near this zone with the first target of 2584 and the second one near 2536. A stop-loss order can be placed above today’s high.
If the asset settles above the resistance 2631 – 2623 today, the short-term downtrend will reverse. In this case, consider long trades with the main target in the upper Target Zone 2726 – 2709.
XAUUSD Trading Ideas for Today:
Sell at resistance (B) 2631 – 2623. TakeProfit: 2584, 2536. StopLoss: 2651.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in a short-term downtrend. If the price fails to break through the resistance (A) 1.0619 – 1.0608 today, one may consider short trades with the first target near 1.0557 and the second one near 1.0496.
If the asset pierces the resistance (A), the correction will continue to the trend’s boundary 1.0681 – 1.0664. Once this zone is tested, consider short trades with the main target at the November 14 low. The price should break through and consolidate above the 1.0681 level to reverse the trend and create buying opportunities.
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 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.
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