Short-term analysis for oil, gold, and EURUSD for 11.11.2021

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.

Yesterday, the short-term gold trend continued, within which the Gold Zone was reached.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, oil price dropped dramatically. As a result, the Intermediary Zone 81.03 – 80.77 was broken out. Thus, the short-term trend reversed down. Today, the search for sales is a matter of primary importance. The target for sales is the lower Target Zone 78.48 – 77.97. It is profitable to look for short trades on correction at strong resistances.

The Additional Zone 81.15 – 81.02 and the Intermediary Zone 82.55 – 82.30 are strong resistances. It is reasonable to consider yesterday’s low as the first target for taking profit. A trend reversal by breaking out the IZ and price consolidation above level 82.55 are required to enter purchases.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 81.15 – 81.02. TakeProfit: 79.80, Target Zone 78.48 – 77.97. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 82.55 – 82.30. TakeProfit: 79.80, Target Zone 78.48 – 77.97. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

Yesterday, the short-term gold trend continued, within which the Gold Zone 1854 – 1852 was reached. The GZ was eventually broken out. The next target for purchases is Target Zone 3 1875 – 1871.

After breaking out the Gold Zone, major traders exited longs, and the price went into correction. As part of the correction, the short-term uptrend’s key support 1849 – 1847 was reached. This ​​key support zone was held by buyers.

Today it is profitable to look for gold purchases with the first target in the zone of ​​yesterday’s high and with the second target in the Target Zone 3.

The breakout of the Intermediary Zone and price consolidation below are required for sales. In this case, it will be possible to consider short trades with a target in the lower Target Zone 1831 – 1827.

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1854 – 1847. TakeProfit: Target Zone 3 1875 – 1871. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

A short-term euro downtrend continued. As a result, level 1.1514 was reached. This level was broken out at the US trading session, and the price consolidated below. The next target for sales within the trend is the Gold Zone 1.1428 – 1.1419.

At the moment, a correction is developing. The likely target of the correction is the Additional Zone 1.1512 – 1.1508. After the AZ test, look for new euro sales according to the pattern with the target at today’s low.

If the Additional Zone is broken out and the price consolidates above level 1.1514, a deep correction in the Intermediary Zone 1.1561 – 1.1552 will begin. The Intermediary Zone serves as the border of the trend, so it will be reasonable to look for sales in the IZ according to the pattern with the same targets.

EURUSD trading ideas for today:

Sell according to the pattern in Additional Zone 1.1512 – 1.1508. TakeProfit: 1.1468. 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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