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:
Buy according to the pattern in Additional Zone 70.73 – 70.61. TakeProfit: 71.97. StopLoss: according to the pattern rules.
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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Price chart of XAUUSD in real time mode
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