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Short-term analysis for oil, gold, and EURUSD for 05.12.2023
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.
Oil price forecast for today: USCrude analysis
The short-term oil downtrend started yesterday. The price consolidated below the key support 74.65 – 74.15. The downside target is the lower Target Zone, 69.70 – 68.71. It is relevant to enter new sell trades on the correction at resistance (А) 76.39 – 76.06 or resistance (В) 78.20 – 77.71.
Gold forecast for today: XAUUSD analysis
The gold short-term trend turned down yesterday. The price broke out the key support 2075 – 2069. Next, the traders tried to drive the price to the lower Target Zone 2016 – 2005.
Euro/Dollar forecast for today: EURUSD analysis
The EURUSD short-term downtrend continues. The downside target is the lower Target Zone 1.0765 – 1.0740. When this zone is reached, an ascending correction could start.
Overall, based on the analysis of the market, a combination of margin zones methodology and technical analysis, we provide insights into trading strategies for short-term price movements.
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