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 tested 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.
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XAUUSD: gold’s short-term downtrend has reversed.
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EURUSD: Short trades on the euro, opened at the resistance (A) 1.0619 – 1.0608, reached the first bearish target yesterday.
Oil Price Forecast for Today: USCrude Analysis
Yesterday, oil tested the resistance (A) 69.84 – 69.54 but remained below this zone. As a result, the price has declined. Today, consider holding short trades, initiated at the resistance (A), open with the first target of 68.18 and the second one near 66.51.
If the quotes start growing and pierce the resistance (A) today, the correction within the short-term downtrend will continue to the resistance (B) 71.51 – 71.05. Consider short trades near this zone with the main target near the November 18 low.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (A) 69.84 – 69.54. TakeProfit: 68.18, 66.51. StopLoss: 70.44.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold‘s short-term downtrend reversed. The price has broken through the resistance (B) 2631 – 2623. Now, the main bullish target is the upper Target Zone 2726 – 2709.
Consider long trades on a correction at the strong support (A) 2604 – 2599 and support (B) 2576 – 2567 with the main target at today’s high.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2064 – 2599. TakeProfit: 2630, 2662. StopLoss: 2587.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade in a short-term downtrend. Yesterday, short trades, opened at the resistance (A) 1.0619 – 1.0608, hit the first bearish target of 1.0557. The next target is the November 14 low near 1.0496. If the price consolidates below this low, the decline may continue to the Gold Zone 1.0458 – 1.0446.
If the quotes increase and exceed yesterday’s high today, the price will likely pierce the resistance (A). In this case, the correction will extend to the resistance (B) 1.0681 – 1.0664. Once this zone is reached, one may consider short trades.
EURUSD Trading Ideas for Today:
Hold up sales opened at resistance (A) 1.0619 – 1.0608. TakeProfit: 1.0496. StopLoss: at the breakeven.
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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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