Short-term Analysis for Oil, Gold, and EURUSD for 08.11.2024

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.

Yesterday, the euro corrected within a short-term downtrend.

The article covers the following subjects:

Highlights and key points

  • USCrude: oil is trying to reverse its short-term downtrend.

  • XAUUSD: gold is declining after hitting the resistance (A) 2706 – 2700 with the first target of 2674.

  • EURUSD: the euro has failed to pierce the resistance (A) 1.0805 – 1.0794 within a short-term downtrend.

Oil price forecast for today: USCrude analysis

Oil is trying to break through the short-term downtrend’s key resistance 72.01 – 71.51. If so, the downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 77.45 – 76.46, starting from next week.

If the asset fails to pierce the key resistance 72.01 – 71.51, a sell signal may emerge. Once the signal appears, one may consider short trades with the first target of 69.28 and the second one near 66.56.

USCrude trading ideas for today:

Watch the market.


Gold forecast for today: XAUUSD analysis

Yesterday, gold corrected to the resistance (A) 2706 – 2700, but bears managed to drag the price lower. Therefore, consider holding short trades initiated at the resistance (A) open with the first target of 2674 and the second one of 2643.

If the price breaks through the resistance (A) today, the correction will continue to the resistance (B) 2738 – 2729, the short-term trend’s boundary. Thus, consider short trades near this zone.

XAUUSD trading ideas for today:

Hold up sales opened at resistance (A) 2706 – 2700. TakeProfit: 2674, 2643. StopLoss: at the breakeven.


Euro/Dollar forecast for today: EURUSD analysis

Yesterday, the euro hit the resistance (A) 1.0805 – 1.0794 during a correction within the short-term downtrend. However, bears have managed to push the price below this zone. Therefore, consider short trades near this resistance today with the first target of 1.0744 and the second one of 1.0682.

If the price pierces the resistance (A) today, the correction will extend to the trend’s boundary 1.0867 – 1.0850. Once this zone is reached, short trades can be considered.

The asset should breach the 1.0867 level to reverse the trend and create buying opportunities. In this case, the bullish target will be the upper Target Zone of 1.1052 – 1.1018.

EURUSD trading ideas for today:

Hold up sales opened at resistance (A) 1.0805 – 1.0794. TakeProfit: 1.0744, 1.0682. StopLoss: at the breakeven.


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 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.

Rate this article:

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

This post is originally published on LITEFINANCE.

  • Related Posts

    Altria (MO) Stock Forecast for 2024, 2025-2026, and Beyond

    Altria Group, Inc. is facing declining cigarette sales and significant regulatory pressure, forcing the company to aggressively develop smoke-free products. The company’s revenue grew 1.3% to $5.34 billion in the…

    Tesla (TSLA) Stock Forecast for 2024 and Beyond

    Tesla Inc. is one of the largest U.S. corporations and a global leader in electric vehicle design and electricity generation and storage, thanks to its resilient business strategies and innovation.…

    Leave a Reply

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

    You Missed

    Oil prices ease on fears of higher output, sluggish demand

    • November 14, 2024
    Oil prices ease on fears of higher output, sluggish demand

    Asia FX weak as dollar surges to 1-year high on sticky inflation; Powell awaited

    • November 14, 2024
    Asia FX weak as dollar surges to 1-year high on sticky inflation; Powell awaited

    Oil prices muted after mixed US inventory data; more demand cues awaited

    • November 14, 2024
    Oil prices muted after mixed US inventory data; more demand cues awaited

    Oil prices edge down, forecasts for higher oil output, weak demand growth weigh

    • November 14, 2024
    Oil prices edge down, forecasts for higher oil output, weak demand growth weigh

    Japan planning $87 billion extra budget to fund stimulus package, paper says

    • November 13, 2024
    Japan planning $87 billion extra budget to fund stimulus package, paper says

    Oil rebounds slightly on short-covering as strong dollar caps gains

    • November 13, 2024
    Oil rebounds slightly on short-covering as strong dollar caps gains