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 is trying to break through the short-term uptrend’s key support 2634 – 2626.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is declining after hitting the 68.68 level with the target at the November 18 low.
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XAUUSD: gold is trying to pierce the short-term uptrend’s key support 2634 – 2626.
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EURUSD: the euro is rising with the main target in the Target Zone 1.0636 – 1.0608.
Oil Price Forecast for Today: USCrude Analysis
Oil is falling within a short-term downtrend after hitting the 68.68 level. The first bearish target is the December 2 low of 67.59. If the price consolidates below this level, the next target will be the November low of 66.51. Should the price slide further, the next target will be the Gold Zone 65.93 – 65.63.
The price should break through and consolidate above the 70.85 level to create buying opportunities. In this case, the short-term downtrend will reverse, and the bullish target will be the upper Target Zone 75.19 – 74.40.
USCrude Trading Ideas for Today:
Sell at 68.68. TakeProfit: 66.51. StopLoss: 69.25.
Gold Forecast for Today: XAUUSD Analysis
Gold is trying to pierce the short-term uptrend’s key support 2634 – 2626. If the asset settles below the 2626 level, one may consider short trades with the target in the lower Target Zone 2548 – 2531 next week.
If the price fails to break through the key support and a bullish signal forms, one may consider long trades with the main target near the November 25 high of 2721.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is growing within the short-term uptrend and is approaching the main bullish target near the November 29 high of 1.0597. Once this target is reached, the asset may test the Target Zone 1.0636 – 1.0608. The price should breach and settle above the Target Zone in the US trading session to continue its growth. In this case, the bullish target will be the Golden Zone 1.0709 – 1.0700.
If the asset fails to pierce the Target Zone 1.0636 – 1.0608, a correction may start again. Consider long trades during this correction.
EURUSD Trading Ideas for Today:
Hold up long trades above 1.0545. TakeProfit: 1.0600. StopLoss: at the breakeven.
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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.
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