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.
Last week, EURUSD was trading in a short-term downtrend.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
On Monday morning a short-term oil downtrend continues. Last Friday, traders tested the Additional Zone 80.16 – 80.03. The zone was held and this morning there was a price decline and a test of the support level of 78.95.
The target of the trend is still the lower Target Zone 78.48 – 77.97. If the TZ is broken out, then the next target will be the Gold Zone 75.93 – 75.67.
It is reasonable to enter new oil sales either in the Additional Zone according to the pattern or in the Intermediary Zone 81.56 – 81.31.
USCrude trading ideas for today:
Hold down sales / sell according to the pattern in Additional Zone 80.16 – 80.03. TakeProfit: 78.95, Target Zone 78.48 – 77.97. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
At the close of trading last week, a trading recommendation to buy gold in the Intermediary Zone 1849 – 1847 yielded profits. The local November 10 high has also been updated. The short-term trend remains up. Now the price is correcting and testing the Additional Zone 1859 – 1858. If the AZ is broken out downside, the target of the correction will be the trend key support 1849 – 1848.
Today I recommend looking for purchases according to the pattern with a target at Friday’s high. The Target Zone 3 1875 – 1871 serves as the main growth target. It is possible to enter long trades both in the AZ and the IZ.
XAUUSD trading ideas for today:
Open buy positions according to the pattern in 1859 – 1848. TakeProfit: 1868. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
Last week, EURUSD was trading in a short-term downtrend. Within the trend, the Target Zone 1.1516 – 1.1498 was broken out. The next target for sales is the Gold Zone 1.1428 – 1.1419. Now the price is trading in the correction and is approaching the Additional Zone 1.1481 – 1.1477.
It is profitable to look for new euro sales in the Additional and Intermediary zones, which are strong resistance levels. The trend border is in the zone of 1.1529 – 1.1514. Use the Friday low and the Gold Zone as a sales target.
It will be possible to enter Euro purchases in case of breakout of level 1.1481. In this case, the IZ will serve as a target.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1481 – 1.1477. TakeProfit: Gold Zone 1.1428 – 1.1419. StopLoss: according to the pattern rules.
Sell according to the pattern in Intermediary Zone 1.1529 – 1.1521. TakeProfit: Gold Zone 1.1428 – 1.1419. 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 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.