Short-term analysis for oil, gold, and EURUSD for 17.12.2021

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.

After the short-term trend reversal up, the gold price is rising without stopping.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

In their attempts to raise the price, oil buyers faced strong resistance of 72.41 – 72.12. This resistance was held yesterday, indicating sellers’ interest in this zone. Today consider oil sales in this zone with a target at the December 15 low.

The short-term trend will reverse down if the December 15 low is updated. In this case, expect oil price in the lower Target Zone 67.31 – 66.72.

Purchases will become possible after the breakout of level 72.41 and consolidating the price higher. In this case, consider purchases with the target in the upper Target Zone 74.59 – 74.01.

USCrude trading ideas for today:

Sell in Intermediary Zone 72.41 – 72.12. TakeProfit: 69.50. StopLoss: 73.72.


Gold price forecast for today: XAUUSD analysis

After the short-term trend reversal up, the gold price is rising without stopping. Yesterday the Target Zone 1793 – 1789 was reached. Today the price is approaching the Gold Zone 1810 – 1808. If the GZ is broken out and the price consolidates higher, the next target for purchases will be Target Zone 2 1831 – 1827.

Look for purchases on correction at strong support levels. Additional Zone 1797 – 1796 and Intermediary Zone 1787 – 1785 are strong supports today. Wait for the test of these zones, look for a pattern and open a long trade according to the pattern. Focus on the day’s high as the first target.

XAUUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1797 – 1796. TakeProfit: 1805. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1787 –  1785. TakeProfit: 1805. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

Yesterday, the euro updated its December 8 high. The next target of the uptrend is the upper Target Zone 1.1421 – 1.1403.

After updating the December 8 high, the price corrected to the Additional Zone 1.1316 – 1.1311. The AZ has been held, so today consider euro purchases in it with the first target in the zone of yesterday’s high.

If today the Additional Zone is broken out downside and the price consolidates below, then the correction will continue with the target in the Intermediary Zone 1.1272 – 1.1263. After reaching the IZ, look for purchases according to the pattern with the same targets.

EURUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1.1316 – 1.1311. TakeProfit: 1.1359. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 1.1272 – 1.1263. TakeProfit: 1.1359. 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 LiteFinance. 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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