Hello, my fellow traders! Here’s my forecast for US Crude, XAUUSD, and EURUSD made using margin zones and classical technical analysis. Based on this analysis, I made a list of entry signals for intraday traders.
Gold traded Monday near the key resistance of the short-term downtrend at 1782 – 1780.
The article covers the following subjects:
Oil Forecast for today: USCrude analysis
Oil continues following a short-term uptrend and breaks Target Zone 68.74 – 68.16. The next buying target is Gold Zone 71.37 – 71.08. New long trades should be opened on corrections from the important support levels, Additional Zone 69.05 – 68.90 and Intermediary Zone 67.58 – 67.29. The latter is the trend’s limit.
To sell oil, traders need to break through the key support and settle underneath level 67.29. We will then have a shift to a downtrend, and the lower Target Zone 64.66 – 64.07 will be a target for short positions.
Trading plan for USCrude for today:
Buy according to the pattern from Additional Zone 69.05 – 68.90. TakeProfit: 70.44. StopLoss: According to pattern rules.
Buy according to the pattern from Intermediary Zone 67.58 – 67.29. TakeProfit: 70.44. StopLoss: According to pattern rules.
Gold forecast for today: XAUUSD analysis
Gold traded Monday near the key resistance of the short-term downtrend at 1782 – 1780. Having failed to break through, the price got back under the margin zone.
As the downtrend continues, short trades should be given priority. To start selling, we need a pattern. We will then open short trades with a target at 2 December’s low and Gold Zone 1759 – 1757.
If we don’t see any selling patterns and the Intermediary Zone is broken to the upside, the short-term trend will turn upwards. The upper Target Zone of 1803 – 1799 will then be a buying target.
Trading plan for XAUUSD for today:
Sell according to the pattern from Intermediary Zone 1782 – 1780. TakeProfit: 1763, Gold zone 1759 – 1757. StopLoss: According to pattern rules.
Today’s forecast for the EURUSD: EURUSD analysis
The euro continues following a short-term uptrend. The level of 1.1278 is one of its limits, and traders failed to break it through yesterday. Today, we continue searching for a chance to open long trades in euro according to the pattern. The buying target will be 30 November’s high. For a pattern to form, we need a formation like Double Bottom.
The short-term trend will reverse if the price consolidates below 1.1278. We will then sell the euro with a target in the lower Target Zone 1.1206 – 1.1189.
Trading plan for EURUSD for today:
Buy according to the pattern from Intermediary Zone 1.1294 – 1.1286. TakeProfit: 1.1380. StopLoss: According to pattern rules.
Sell once the price consolidates below 1.1278. TakeProfit: Target zone 1.1206 – 1.1189. StopLoss: 1.1300.
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Price chart of XAUUSD in real time mode
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