Short-term analysis for oil, gold, and EURUSD for 20.12.2021

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.

Euro is being traded in a wide flat between the levels of 1.1353 and 1.1240.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Today the oil sales in the Intermediary Zone 72.41 – 72.12 worked out. The December 15 minimum was updated. The Intermediary Zone 70.23 – 69.94 was also broken through. The short-term trend has changed to a downtrend and now the target for sales is the lower Target Zone 67.31 – 66.72.

Look for new short oil trades at corrections to strong resistance levels. Strong resistance levels today are Additional Zone 69.37 – 69.23 and Intermediary Zone 70.98 – 70.69.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 69.37 – 69.23. TakeProfit: 67.88. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 70.98 – 70.69. TakeProfit: 67.88. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

As part of a short-term uptrend, gold rose to the Gold Zone 1810 – 1808 last week. Buyers tried to break through it but failed. As a result, the price corrected downward and reached the key support of the trend 1796 – 1793. We now see buyers trying to go upward from this key support.

Wait for a bullish reversal pattern and open a long position at this pattern with a target at the maximum of the last week. If last week’s maximum is updated and the price consolidates above the Gold Zone, then Target Zone 2 1831 – 1827 will be the next target for long trades. ​

XAUUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1796 – 1793. TakeProfit: 1812. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

The euro is being traded in a wide flat between the levels of 1.1353 and 1.1240. Last week, the price went up to the upper border from the lower border of the flat, and then went back to the lower border. Today, traders are trying to break through the level 1.1240 downward. If they succeed, the decline will continue with the target in the lower Target Zone 1.1184 – 1.1166.

If the 1.1240 level is held, there will be a correction to the short-term downtrend. The target of the correction will be the test of either the Additional Zone 1.1283 – 1.1278 or the Intermediary Zone 1.1331 – 1.1322. ​

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1283 – 1.1278. TakeProfit: 1.1235. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.1331 – 1.1322. TakeProfit: 1.1235. 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 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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