Short-term analysis for oil, gold, and EURUSD for 22.11.2021

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.

On Friday, the euro price fell sharply and updated the November 17 low.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Last Friday, traders reached the Gold Zone 75.93 – 75.67. Today, at the opening of trading, they tried to break out the GZ, but unsuccessful. Now the price is trading in the correction. Buyers tested the Additional Zone 76.02 – 75.89, which serves as the first resistance of the correction. It is possible to look for sales according to the pattern in the beforementioned AZ. The first target for sales will be today’s low. The second target will be Target Zone 2 73.38 – 72.87.

If the Additional Zone is broken out during trading session, the correction will continue with the target in the Intermediary Zone 77.42 – 77.17. The IZ serves as the border of the downtrend. It is also profitable to enter sales in the beforementioned IZ.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 79.47 – 79.22. TakeProfit: 74.69, Target Zone 2 73.38 – 72.87. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 77.42 – 77.17. TakeProfit: 74.69, Target Zone 2 73.38 – 72.87. StopLoss: according to the pattern rules.


Gold price forecast for today: XAUUSD analysis

The short-term gold downtrend continued on Friday. As a result, the November 16 low was updated, and the Target Zone 1839 – 1835 was reached. After reaching the TZ, the price corrected to the Additional Zone 1849 – 1848. Now the price is rolling down from this resistance. The probability of the decline continuation remains. The fall target will be the update of today’s low and the breakout of the Target Zone.

If the TZ is broken out, the next sales target will be the Gold Zone 1820 – 1819. If the TZ is held, a correction will develop. Consider sell patterns within the correction. The trend border moves to the zone of 1859 – 1857.

XAUUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1849 – 1848. TakeProfit: 1839. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Intermediary Zone 1859 – 1857. TakeProfit: 1839. StopLoss: according to the pattern rules.


Euro/Dollar forecast for today: EURUSD analysis 

On Friday, the euro price fell sharply and updated the November 17 low. The Intermediary Zone 1.1286 – 1.1277 was also tested. The IZ, which serves as the short-term uptrend’s border, was held.

Today, the priority work scenario is to look for purchases according to the pattern with the first target in the zone of ​​the November 18 high and with the second target in the upper Target Zone 1.1457 1.1439.

The update of Friday’s low and price consolidation lower are required for euro sales. In this case, the short-term trend will reverse down again, and the price will reach lower Target Zone 1.1198 – 1.1180.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.1286 – 1.1277. TakeProfit: 1.1372. 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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