Short-term analysis for oil, gold, and EURUSD for 16.11.2021

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.

The short-term gold uptrend continues.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Yesterday, oil reached the Target Zone 78.48 – 77.97 as part of a short-term downtrend. This was followed by the closing of large sales and the price correction. As part of the correction, the price reached the Additional Zone 79.72 – 79.59. The AZ has been broken out, and now the price is trying to reach the Intermediary Zone 81.12 – 80.87.

Today it is reasonable to look for short trades in the zone of favorable prices 81.12 – 79.59, since the short-term trend for sales continues. The sales target will be yesterday’s low.

USCrude trading ideas for today:

Open sell positions according to the pattern in 81.12 – 79.59. TakeProfit: 78.48. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

The short-term gold uptrend continues. The Additional Zone was tested yesterday, which led to a buyers’ reaction and an update of local highs. After updating the November 12 high, the price went into correction again and retested the Additional Zone 1861 – 1860. Today, the uptrend in the AZ continues. The uptrend’s target is to test the Target Zone 3 1875 – 1871.

If the Target Zone is broken out and the price consolidates higher, the next target for purchases will be Gold Zone 3 1892 – 1890.

If within the correction, the Additional Zone and level 1860 are broken out, the next target of the correction will be the Intermediary Zone 1851 – 1849. The IZ serves as the border of the short-term uptrend.

XAUUSD trading ideas for today:

Hold up buy trades entered in Additional Zones. TakeProfit: Target Zone 3 1875 – 1871. StopLoss: at the breakeven.

Euro/Dollar forecast for today: EURUSD analysis 

Yesterday, the euro price continued to decline. As a result the Gold Zone 1.1428 – 1.1419 was broken out. The next target for sales is Target Zone 2 1.1340 – 1.1322. Now the price is correcting and approaching the Additional Zone 1.1404 – 1.1400.

Today the AZ and the IZ serve as strong resistances. The Intermediary Zone coincides with the technical border of the trend, and together they serve as the zone of the most favorable sell prices 1.1460 – 1.1444.

It is profitable to consider short trades in the levels mentioned above. Yesterday’s low will serve as the first sales target.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1404 – 1.1400. TakeProfit: 1.1359, Target Zone 2 1.1340 – 1.1322. StopLoss: according to the pattern rules.
  1. Sell according to the pattern in Intermediary Zone 1.1453 – 1.1444. TakeProfit: 1.1359, Target Zone 2 1.1340 – 1.1322. 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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