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Technical analysis for US Crude, XAUUSD, EURUSD for 30 November

2020-11-27

2020-11-27

Medium-term forecast for oil, gold, and EURUSD 27.11.2020Alex Rodionov

I welcome my colleagues! 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 trading signals for traders who trade in medium-term trends.

This week, the EURUSD has continued rising and broken through the high of November. The bulls are trying to consolidate above level 1.1920.

The article covers the following subjects:

Oil price forecast for next week: USCrude analysis

The oil price has reached and broken through the strong resistance Target Zone 2 [44.22 - 43.71]. The next target in the middle-term uptrend is Target Zone 3 [49.32 – 48.81].

Next week, I recommend expecting a correction to the support levels. The first support level, according to technical analysis, is [43.00 – 42.81]. The second level is the trend key support [41.32 – 40.85].

It will be relevant to buy when there is a pattern. Do not forget to set the first take-profit at the high.

[USCrude ][1]Trading tips for the upcoming week:

  1. Buy according to the pattern in the zone of [43.00 - 42.81]. TakeProfit: 46.00, Target Zone 3 [49.32 - 48.81]. StopLoss: according to the pattern rules.

  2. Buy according to the pattern in Target Zone [41.32 - 40.85]. TakeProfit: 46.00, Target Zone 3 [49.32 - 48.81]. StopLoss: according to the pattern rules.

Gold price forecast for next week: XAUUSD analysis

The gold middle-term downtrend continues. The price has broken out Target Zone 2 [1829.4 – 1820.1]. The trading idea to buy in the correction didn’t work out.

The next downside target is Target Zone 3 [1736.4 – 1727.1]. This is the target for medium-term sell positions. The traders should first accumulate positions on the correction before the downtrend continues.

Next week, I recommend considering purchases according to the pattern in the correction up. It is better to detail the entry point in the H1 timeframe.

The price should test the resistance zones following the correction. The next resistance zones for the gold trend are [1861.0 - 1850.4] and Target Zone [1926.8 – 1915.3]. After the price tests these zones, we should start selling gold.

[XAUUSD][2] Trading tips for the upcoming week:

  1. Buy in the correction according to the pattern after the price breaks out the level of 1818.5. TakeProfit: [1861.0 - 1850.4]. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in zone of [1861.0 - 1850.4]. TakeProfit: 1801.5, Target Zone 3 [1736.4 - 1727.1]. StopLoss: according to the pattern rules.

  3. Sell according to the pattern in Target Zone [1926.8 - 1915.3]. TakeProfit: 1801.5, Target Zone 3 [1736.4 - 1727.1]. StopLoss: according to the pattern rules.

Euro/dollar price forecast for next week: EURUSD analysis

The EURUSD medium-term uptrend has continued this week, the price has broken out the high of November. Bulls are trying to consolidate above level 1.1920. If they do, the price will continue rising with a target at Target Zone 2 [1.2032 – 1.2012].

If the market doesn’t break out the resistance, the price could be corrected down to the strong support zones, 1.1800, 1.1745, and Target Zone [1.1733 – 1.1712]. It is relevant to enter the EURUSD buy trades in the resistance zones.

Next week, it will be relevant to hold up middle-term longs and enter new purchases in the zones indicated above.

[EURUSD][3] Trading tips for the upcoming week:

Buy according to the pattern in the zones of 1.1800, 1.1745, and Target Zone [1.1733 - 1.1712]. TakeProfit: 1.1939, Target Zone 2 [1.2032 - 1.2012]. StopLoss: according to the pattern rules.

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.

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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 LiteForex. 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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  1. my.liteforex.com/trading?type=oil
  2. my.liteforex.com/trading/chart?symbol=XAUUSD&returnUrl=true
  3. my.liteforex.com/trading/chart?symbol=EURUSD&returnUrl=true
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