Short-term analysis for oil, gold, and EURUSD for 24.11.2021

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 oil trend reversed up.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

The short-term oil trend reversed up. Yesterday, the Intermediary Zone 77.42 – 77.17 was broken out. The target for today is the upper Target Zone 80.23 – 79.72. Look for new purchases on correction at strong support levels.

The Additional Zone 77.51 – 77.38 and the Intermediary Zone 76.23 – 75.98 serve as strong supports. A pattern is required to open a position. Consider today’s high of the day as the first target.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 77.51 – 77.38. TakeProfit: 78.73. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 76.23 – 75.98. TakeProfit: 78.73. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

The short-term gold downtrend continues. Yesterday, the price corrected to the Additional Zone 1792 – 1791. Today the AZ was broken out, but now the price is returning below the resistance level. Today look for gold sales according to the pattern in the zone of 1802 – 1791. The target for sales will be yesterday’s low.

The breakout of the Intermediary Zone by consolidating the price above the level of 1802 at the US trading session is required to enter purchases. In this case, the short-term trend will reverse up, and the target for purchases will be the upper Target Zone 1823 – 1819.

XAUUSD trading ideas for today:

Open sell positions according to the pattern in 1802 – 1791. TakeProfit: 1782. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis 

Yesterday, the euro corrected in ​​the Additional Zone 1.1274 – 1.1270. The price didn’t break out the AZ. As a result, the euro price fell and the previous low was repeated.

Support level 1.1233 has been reached. The Additional Zone yielded profits. For a further price fall, it is required to break out this level and consolidate the price below. In this case, the target for sales will be the lower Target Zone 1.1198 – 1.1180.

Otherwise, a new correction will develop. The target of this correction will be yesterday’s high and a test of the new Additional Zone 1.1280 – 1.1276. If the resistance is broken out upside, the Intermediary Zone 1.1329 – 1.1320 will be reached. The IZ serves as the border of a short-term downtrend.

EURUSD trading ideas for today:

Sell according to the pattern in Additional Zone 1.1280 – 1.1276. TakeProfit: 1.1233. 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.

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