Short-term analysis for oil, gold, and EURUSD for 03.12.2021

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.

The EURUSD sellers are going to break out the short-term uptrend’s key support 1.1294 – 1.1286.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, the short-term oil trend reversed up. The Intermediary Zone 65.11 – 64.86 was broken out. Today the price has reached the main target within the trend, the Target Zone 67.92 – 67.41. Further price growth will become possible after breaking out the Target Zone and price consolidation above level 67.92 at the US trading session.

It is profitable to consider oil purchases at strong support levels. Additional Zone 66.47 – 66.35 and Intermediary Zone 65.20 – 64.94 are strong supports today. The latter serves as the border of a short-term uptrend. Focus on today’s high as a target for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 66.47 – 66.35. TakeProfit: 67.70. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 65.20 – 64.94. TakeProfit: 67.70. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

As part of the short-term gold downtrend, the Target Zone 1778 – 1774 was broken out. The next target for sales is the Gold Zone 1759 – 1757.

Today the price is correcting and approaching the trend key resistance 1782 – 1780. After reaching the key resistance, it will be profitable to look for gold sales according to the pattern with the first target at yesterday’s low.

An alternative buy scenario suggests a breakout of the Intermediary Zone and the price consolidation higher. In this case, the trend will reverse up, and the target for purchases will be the upper Target Zone 1803 – 1799.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1782 – 1780. TakeProfit: Gold Zone 1759 – 1757. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

The EURUSD sellers are going to break out the short-term uptrend’s key support 1.1294 – 1.1286. If they manage to break out the support and consolidate the price below, the short-term trend will reverse down. In this case, it will be profitable to sell the euro with the target in the lower Target Zone 1.1206 – 1.1189.

If sellers fail to break out the support, look for a buy pattern with a target around the November 30 high.

The report on the US nonfarm payrolls is expected to be released today. In this regard, high volatility for the instrument is possible.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.1294 – 1.1286. TakeProfit: 1.1380. StopLoss: according to the pattern rules.


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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.

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