Short-term analysis for oil, gold, and EURUSD for 07.12.2021

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:

  1. Buy according to the pattern from Additional Zone 69.05 – 68.90. TakeProfit: 70.44. StopLoss: According to pattern rules.

  2. 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:

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

  2. 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

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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