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Technical analysis for US Crude, XAUUSD, and EURUSD today (29 November 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.

Last Friday, the short-term gold trend reversed down.

The article covers the following subjects:

Oil price forecast for today: USCrude analysis

Today the short-term oil trend reversed up. The Intermediary Zone 70.08 – 69.83 was broken out. Now the target for purchases is the upper Target Zone 72.89 – 72.38. At the moment, the price is correcting and decreasing, testing the Additional Zone 70.73 – 70 61. I recommend looking for a buy pattern in the beforementioned AZ to update today’s high and test the upper Target Zone 72.89 – 72.38.

If the Additional Zone is broken out downside during today’s trading session, expect a further decline and a test of the Intermediary Zone 69.46 – 69.20. The IZ mentioned above serves as the border of the short-term uptrend. Therefore, after reaching it, look for a buy pattern again.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 70.73 – 70.61. TakeProfit: 71.97. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Intermediary Zone 69.46 – 69.20. TakeProfit: 71.97. StopLoss: according to the pattern rules.

Gold price forecast for today: XAUUSD analysis

Last Friday, the short-term gold trend reversed down. Now the price is correcting and approaching the trend border 1801 – 1799. After testing the trend border, look for a sell pattern and start selling the precious metal in order to update Friday’s low and reach the lower Target Zone 1778 – 1774.

An alternative scenario suggests a breakout of level 1801 and the price consolidation higher. In this case, the short-term trend will reverse up. So, it will be profitable to search for purchases with a target in the upper Target Zone 1821 – 1817.

XAUUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1801 – 1799. TakeProfit: 1780. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis 

Last Friday, the euro price consolidated above the Intermediary Zone 1.1283 – 1.1274, thus reversing the short-term trend up. Today started with a correction. As part of the correction, the traders reached the Additional Zone 1.1286 – 1.1282. Now this strong support is being tested. The AZ has not been broken out, so I suggest looking for purchases according to the pattern. Consider Friday’s high as the first target, and the upper Target Zone 1.1379 – 1.1362 as the second target.

The correction may continue. In this case, the trend border 1.1242 – 1.1233 will be reached. Look for long trades after reaching the trend border. Friday high and Target Zone 1.1379 – 1.1362 will remain as targets for purchases.

EURUSD trading ideas for today:

Open buy positions according to the pattern in 1.1286 – 1.1233. TakeProfit: 1.1329, Target Zone 1.1379 – 1.1362. StopLoss: according to the pattern rules.

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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

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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.

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