Short-term analysis for oil, gold, and EURUSD for 17.11.2021

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 euro downtrend continued, within which the Target Zone 2 1.1340 – 1.1322 was broken out.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The oil resistance zone of ​​81.12 – 79.59 was held. Today the price continued to fall. The target of the fall is the November 15 low in the Target Zone ​​78.48 – 77.97. In case of the TZ breakout and price consolidation below at the US session, the downtrend will continue with the target in the Gold Zone 75.93 – 75.67.

Today it is reasonable for traders to hold down sales entered in the resistance zone and open new short trades according to the pattern.

The short-term trend reversal up by breaking out the Intermediary Zone and price consolidation above level 81.12 at the US trading session is required for oil purchases.

USCrude trading ideas for today:

Hold down sales entered in the zone of 81.12 – 79.59. TakeProfit: 78.48. StopLoss: at the breakeven.


Gold price forecast for today: XAUUSD analysis

The gold Target Zone 3 1875 – 1871 was held. After that, the XAU price began to fall. As a result, the short-term uptrend’s key support 1858 – 1856 was broken out. Thus, the short-term trend reversed down. Now the target for sales is the lower Target Zone 1839 – 1836.

It is profitable to enter new short trades on correction in the zone of ​​favorable prices 1870 – 1856. To enter trades, it is required that the price enters the resistance zone and then forms a sell pattern. The first target for taking profit is today’s low.

XAUUSD trading ideas for today:

Sell according to the pattern in the zone of 1870 – 1856. TakeProfit: 1850, Target Zone 1839 – 1836. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

The short-term euro downtrend continued, within which the Target Zone 2 1.1340 – 1.1322 was broken out. Today traders tried to reach the Gold Zone 2 1.1252 – 1.1243. It didn’t work out the first time. As a result, the price went into correction and tested the Additional Zone 1.1311 – 1.1307.

The Additional Zone is the first zone to search for sales according to the pattern. The second zone to enter short trades is the Intermediary Zone 1.1360 – 1.1351. The IZ also serves as the trend border.

Today it is profitable to consider new euro sales according to the pattern in the above-mentioned margin zones. Consider today’s low of the day as the first target.

EURUSD trading ideas for today:

    1. Sell according to the pattern in Additional Zone 1.1311 – 1.1307. TakeProfit: 1.1265, Gold Zone 2 1.1252 – 1.1243. StopLoss: according to the pattern rules.

    2. Sell according to the pattern in Intermediary Zone 1.1360 – 1.1351. TakeProfit: 1.1265, Gold Zone 2 1.1252 – 1.1243. 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.

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