Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The euro price climbed to the key resistance zone during a correction last week.
The article covers the following subjects:
Major Takeaways
- USCrude: Oil declined after hitting its first bullish target.
- XAUUSD: Gold is testing the support (B) 4,095–4,080.
- EURUSD: The euro is testing the resistance (B) 1.1647–1.1630.
Oil Price Forecast for Today: USCrude Analysis
As of Monday morning, the oil price is still trading in a short-term uptrend. Last week, the asset tested the trend boundary 58.17–57.75, but bulls managed to keep it above this zone. As a result, the price reached the first bullish target near 60.07 at the end of the week. The second target is 62.36. Therefore, consider holding the remaining long trades open until the second target is reached.
If oil breaks below the support (B) 58.17–57.75 today, the short-term uptrend will reverse. In this case, consider short trades on the next trading day with the main target in the lower Target Zone 53.97–53.13.
USCrude Trading Ideas for Today:
Hold part of the long trades opened at support (В) 58.17–57.75. TakeProfit: 62.36. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Last week, the gold price reached the upper Target Zone 4,216–4,186 but failed to break above it. Afteward, a downward correction started, pushing the price down to the short-term uptrend’s key support 4,095–4,080 on Friday. However, the asset remained within this zone.
Therefore, consider long trades today with the first target at 4,162 and the second one at the November 13 high of 4,245. The price should settle below the Friday low to reverse the trend and create selling opportunities.
XAUUSD Trading Ideas for Today:
Watch the market.
Euro/Dollar Forecast for Today: EURUSD Analysis
Last week, the euro price rose to the key resistance zone 1.1647–1.1630 during a correction within the short-term downtrend. However, bears managed to hold the asset below this zone. Therefore, consider short trades today with the first target at 1.1557 and the second one near 1.1468.
If the euro breaks above the resistance (B) 1.1647–1.1630, the short-term downtrend will change to an uptrend. In this case, consider long trades on the next trading day with the main target in the upper Target Zone 1.1825–1.1792.
EURUSD Trading Ideas for Today:
Hold part of the short trades opened at resistance (B) 1.1647–1.1630. TakeProfit: 1.1557, 1.1468. StopLoss: 1.1683.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG to get a 50% deposit bonus on the LiteFinance platform. Simply enter this code in the appropriate field when funding your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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 broker. 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 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
