I welcome my fellow traders! I have made a price forecast for the USCrude, 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.
Yesterday, the euro’s short-term downtrend reversed.
The article covers the following subjects:
Major Takeaways
-
USCrude: oil continues to decline within a short-term downtrend.
-
XAUUSD: gold is trying to rise after hitting the support (B) 2634 – 2626.
-
EURUSD: the euro is trading in a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term downtrend. The price reached the first target of 68.68 on November 25. If the asset breaks through the second bearish target of 66.51, the price may test the Gold Zone 65.93 – 65.63. Oil should pierce and consolidate below the Gold Zone to continue falling.
An alternative scenario suggests that if the price settles above the trend’s boundary 70.85 – 70.45, the short-term downtrend will reverse, and the upper Target Zone 75.19 – 74.40 will become the main bullish target.
USCrude Trading Ideas for Today:
Hold up sales opened at resistance (B) 70.85 – 70.45. TakeProfit: 66.51. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a short-term uptrend and is testing the key support 2634 – 2626. Bulls are keeping the price above this zone. Thus, the asset may grow from it with the first target of 2673. If the price breaks through this level, the next bullish target will be 2721.
The asset should pierce and consolidate below the support (B) 2634 – 2626 in the American trading session to allow traders to open short trades. In this case, the short-term uptrend will reverse. Therefore, one may consider short trades with the target in the lower Target Zone 2548 – 2531.
XAUUSD Trading Ideas for Today:
Buy at support (B) 2634 – 2626. TakeProfit: 2673, 2721. StopLoss: 2609.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, the euro‘s short-term downtrend reversed. The price has broken through and settled above the resistance (B) 1.0484 – 1.0470. The main bullish target is the upper Target Zone 1.0636 – 1.0608.
Currently, the price is correcting. If the correction continues, the asset may test the support (A) 1.0495 – 1.0486. Once this zone is tested, consider long trades with the first target of 1.0536 and the second one near yesterday’s high. The trend’s boundary is shifting to 1.0449 – 1.0435.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0495 – 1.0486. TakeProfit: 1.0536, 1.0587. StopLoss: 1.0467.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
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 for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing 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. 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.
Feed from Litefinance.com