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 oil price has corrected to the area of key resistance of the short-term downtrend, 69.31 – 69.01.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price has corrected to the area of key resistance of the short-term downtrend, 69.31 – 69.01. This resistance is still being held by sellers, so I suggest looking for a sell pattern and selling oil with the target at yesterday’s minimum.
If the Intermediary Zone is broken through today during the American trading session, the short-term trend will change to an upward one. In this case, the target for longs will be the upper Target Zone, 72.52 – 71.94.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 69.31 – 69.01. TakeProfit: 66.43. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The short-term trend on gold changed to a downtrend yesterday. The Intermediary Zone 1795 – 1793 was broken through. Now the target for short trades is the lower Target Zone 1776 – 1773.
Sell gold at a correction from strong levels. The strong levels are Additional Zone 1798 – 1797 and Intermediary Zone 1808 – 1807. Shorting requires a test of these levels and then a formed pattern. Take the yesterday’s minimum as the first target for shorts.
Consider buying the precious metal only if the buyers manage to break through the resistance level 1809.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1798 – 1797. TakeProfit: 1788. StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone 1808 – 1807. TakeProfit: 1788. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
The euro is still being traded in a wide flat between the levels of 1.1353 and 1.1240.
Judging by the margin zones, the short-term trend for the euro is downward. The target for shorts is the lower Target Zone 1.1184 – 1.1166. Yesterday, the price corrected to a strong resistance level, Additional Zone 1.1283 – 1.1278. The zone was held, so today consider looking for a signal to sell the euro with the target at the December 17 minimum.
If the correction continues and the Additional Zone is broken through, then the EUR/USD rate will be in the area of the Intermediary Zone 1.1331 – 1.1322. This zone is the border of a short-term downtrend. You may look for a sell pattern in this zone once the price is in it.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional 1.1283 – 1.1278. TakeProfit: 1.1235. StopLoss: according to the pattern rules.
- 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 USCRUDE 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.