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 gold short-term downtrend continued yesterday after the test of Intermediary Zone 1662 – 1659.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
Oil short-term uptrend continued. The high of October 27 was broken through. Oil traders tried to break out the upper Target Zone 89.51 – 88.76, but failed.
The oil price is now being corrected down with a potential target to test Additional Zone 87.80 – 87.61. After the AZ zone test, I suggest entering new purchases according to the pattern with a target at yesterday’s high.
If the price breaks out the Additional Zone downside within the correction, the oil price should reach the Intermediary Zone 85.92 – 85.55, which is the border of the short-term uptrend. In this scenario, one could also enter purchases after the price reaches the IZ.
USCrude trading ideas for today:
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Buy according to the pattern in Additional Zone 87.80 – 87.61. TakeProfit: 89.61. StopLoss: according to the pattern rules.
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Buy according to the pattern in Intermediary Zone 85.92 – 85.55. TakeProfit: 89.61. StopLoss: according to the pattern rules.
Gold price forecast for today: XAUUSD analysis
The gold short-term downtrend continued yesterday after the test of the Intermediary Zone 1662 – 1659. The price has broken through the low of November 1 today. The gold sell trades reached the first target. The next downside target is the lower Target Zone 1618 – 1612. The market should reach the second target within the next two days.
I recommend entering new short trades on the corrections to strong resistance levels. The Additional Zone is now in 1645 – 1643. The trend border is the zone of 1661 – 1658. Once any of these zones is tested by the price, I suggest selling gold according to a sell pattern with the first target at today’s low.
XAUUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1645 – 1643. TakeProfit: 1630. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1661 – 1658. TakeProfit: 1630. StopLoss: according to the pattern rules.
Euro/Dollar forecast for today: EURUSD analysis
After the test of the Intermediary Zone, the euro continued falling yesterday. The low of November 1 was broken through, and the price broke out Target Zone 0.9881 – 0.9860. The market is approaching the next downside target in the Gold Zone 0.9775 – 0.9765.
If the Gold Zone is broken out downside and the price consolidates below at the US session, the next sell target will be the Target Zone 2, 0.9669 – 0.9648.
One could enter new euro short trades on the correction to the strong resistance levels, the Additional Zone 0.9837 – 0.9832 and the Intermediary Zone 0.9896 – 0.9885. To enter a short trade, there should be a sell pattern. The first target will be today’s low.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 0.9837 – 0.9832. TakeProfit: 0.9780. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 0.9896 – 0.9885. TakeProfit: 0.9780. StopLoss: according to the pattern rules.
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Price chart of XAUUSD 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.
