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.
The euro reached all its bullish targets last week.
The article covers the following subjects:
Major Takeaways
USCrude: oil continues to trade in a downtrend.
XAUUSD: gold is trading slightly above the short-term uptrend’s key support 2634 – 2626.
EURUSD: the euro is trying to continue rising after hitting the support (A) 1.0537 – 1.0528 within a short-term uptrend.
Oil Price Forecast for Today: USCrude Analysis
Oil is maintaining its short-term downtrend. Last week, the price rebounded from 68.68. This week, the quotes are approaching the next target near 66.51. If the price breaks through this level, the new target will be the Gold Zone 65.93 – 65.63. Therefore, consider holding short trades initiated at 68.68 at the breakeven level today.
The price should break through the 70.85 level to reverse the short-term trend and create buying opportunities.
USCrude Trading Ideas for Today:
Hold up sales opened at 68.68. TakeProfit: 66.51. StopLoss: at the breakeven.
Gold Forecast for Today: XAUUSD Analysis
Gold is trying to reverse the short-term uptrend. If the asset pierces and consolidates below the November 26 low, the bearish target will be the lower Target Zone 2548 – 2531.
The price should settle above the November 29 high to continue rising. In this case, one may consider long trades within the short-term uptrend with the main target of 2721.
XAUUSD Trading Ideas for Today:
Buy above 2666. TakeProfit: 2721. StopLoss: 2654.
Sell below 2608. TakeProfit: 2548. StopLoss: 2625.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro reached the upper Target Zone 1.0636 – 1.0608 within the short-term uptrend last week. As a result, the asset has hit all the bullish targets. Once the euro touched the Target Zone, major traders closed their high-volume long positions, and a correction started. The price has tested the support (A) 1.0537 – 1.0528 during the correction today. If a bullish signal appears near this support, one may consider long trades with the target at the December 6 high.
If the quotes pierce the support (A) today, the correction may continue to the trend boundary 1.0491 – 1.0478. Once this zone is tested, one may consider long trades.
EURUSD Trading Ideas for Today:
Buy at support (A) 1.0537 – 1.0528. TakeProfit: 1.0628. StopLoss: 1.0508.
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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 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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