Short-term analysis for oil, gold, and EURUSD for 02.12.2021

I welcome my fellow traders! I have made a price forecast for US Crude, 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.

A short-term gold downtrend continues.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

On Thursday morning, the short-term oil downtrend continues with the target in the lower Target Zone 64.22 – 63.71. Today the price went into correction and tested the Additional Zone 66.12 – 65.99. The AZ serves as a strong resistance level on the way of price growth. It is profitable to consider short trades in the beforementioned AZ with a target in the zone of ​​yesterday’s low.

If the Additional Zone is broken out upside, a test of the Intermediary Zone 67.52 – 67.26 will occur. The IZ serves as the border of a short-term downtrend. Look for sales in the IZ according to the pattern with the target at yesterday’s low and in the lower Target Zone.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 66.12 – 65.99. TakeProfit: 64.80, Target Zone 64.22 – 63.71. StopLoss: according to the pattern.

  2. Sell according to the pattern in Intermediary Zone 67.52 – 67.26. TakeProfit: 64.80, Target Zone 64.22 – 63.71. StopLoss: according to the pattern.


Gold price forecast for today: XAUUSD analysis

A short-term gold downtrend continues. Yesterday, traders tested the Intermediary Zone 1790 – 1788. I recommended entering sales in the IZ according to the pattern to update the November 30 low. Now the price is trying to break out the Target Zone 1778 – 1774. In case of a successful breakout, the November 30 low will be updated, and then the Gold Zone 1759 – 1757 will be reached.

To enter gold purchases, it is required to hold the Target Zone, and then break out the trend border at the level of 1790. In this case, the buy target will be the upper Target Zone 1811 – 1807. Based on this, it is possible to close part of the sales in the IZ 1790 – 1788 at current prices.

XAUUSD trading ideas for today:

Hold part of sell trades entered in Intermediary Zone 1790 – 1788. TakeProfit: 1771. StopLoss: at the breakeven.


Euro/Dollar forecast for today: EURUSD analysis 

The short-term euro uptrend continues. The growth target is the November 30 high in the zone of level 1.1380.

Now the price is trading between the Target Zone 1.1380 – 1.1362 and the Intermediary Zone 1.1294 – 1.1286. To enter new buy trades, it is required to break out level 1.1380 and consolidate the price above. To enter sales, it is required to break out level 1.1286 and consolidate the price below. In the first case, the target for purchases will be the Gold Zone 1.1459 – 1.1450. In the second case, the target for sales will be the lower Target Zone 1.1206 – 1.1189.

EURUSD trading ideas for today:

Watch the market.


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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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