Short-term analysis for oil, gold, and EURUSD for 10.11.2021

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.

Gold is trading in the correction to a short-term uptrend.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

A short-term oil uptrend continued yesterday. As a result, the Target Zone 83.20 – 82.69 was reached. Today the traders will try to break out this zone. If successful, the next target for purchases will be the Gold Zone 85.50 – 85.24. Otherwise, if the Target Zone is held, the correction will begin first in the Additional Zone 82.30 – 82.17, then in the Intermediary Zone 81.03 – 80.77.

It is profitable to look for new purchases according to the pattern in the AZ and IZ, with the first target at today’s high. If within the correction the Additional Zone is broken out and the price consolidates below, then it will be possible to consider oil sales with a target in the Intermediary Zone. The IZ serves as the border of the short-term trend.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 82.30 – 82.17. TakeProfit: 83.55. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 81.03 – 80.77. TakeProfit: 83.55. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Today, gold is trading in the correction to a short-term uptrend. The test of the Additional Zone 1823 – 1822 serves as the target of the correction. After the AZ test, look for new gold purchases according to the pattern with the first target at yesterday’s high and the second target in the Target Zone 2 1837 – 1833.

If the Additional Zone is broken out downside and the price consolidates below, then it will be possible to sell gold with a target in the Intermediary Zone 1814 – 1812. After testing the IZ, look for purchases according to the pattern with the same targets again.

The breakout of level 1812 downside is required for trend reversal.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1823 – 1822. TakeProfit: Target Zone 2 1837 – 1833. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1814 – 1812. TakeProfit: Target Zone 2 1837 – 1833. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

Yesterday, as part of the correction to the short-term downtrend, the euro reached the Intermediary Zone 1.1610 – 1.1601. The IZ was held and the price closed lower at the US trading session. Today, keep looking for a sell pattern with a target at the level of 1.1514.

If there will be no sell pattern, but instead the price breaks out the IZ and consolidates higher, the short-term trend will reverse up. In this case, look for euro purchases with the target in the upper Target Zone 1.1707 – 1.1689.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.1610 – 1.1601. TakeProfit: 1.1514. StopLoss: according to the pattern rules.


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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 LiteForex. 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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