Technical analysis for USCrude, XAUUSD, and EURUSD today (14 November 2023)

2023.11.14 2023.11.14
Short-term analysis for oil, gold, and EURUSD for 14.11.2023

Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/

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 EURUSD is to continue rising from support (А) 1.0672 – 1.0663.

Oil price forecast for today: USCrude analysis

The oil price was corrected up to resistance (А) 78.56 – 78.23 yesterday. The zone has not been broken out, and one could enter sell trades there in the short-term downtrend. The first downside target is the low of November 8. The next sell target is the Target Zone 2, 73.11 – 72.45. Enter new sell trades when there is a reversal pattern. 

If resistance (A) is broken out, the correction will continue up to resistance (В) 80.38 – 79.88. The latter one is the trend border, and it is relevant to sell when the price reaches the zone; the downside targets remain the same. 

USCrude trading ideas for today:

1. Sell according to the pattern at resistance (А) 78.56 – 78.23. TakeProfit: 75.03. StopLoss: according to the pattern rules.

2. Sell according to the pattern at resistance (В) 80.38 – 79.88. TakeProfit: 75.03. StopLoss: according to the pattern rules.

Gold forecast for today: XAUUSD analysis

The gold price is being corrected up and could reach resistance (А) 1962 – 1958. When the resistance zone is reached, one could enter new sales with a target at yesterday’s low. If the price consolidates below the indicated low, the next downside target will be the Target Zone 1892 – 1880.

If resistance (A) is broken out, the correction will continue up to resistance (В) 1983 – 1977. The zone is the trend border, and it is relevant to sell there with the above-indicated targets.

XAUUSD trading ideas for today:

1. Sell according to the pattern at resistance (А) 1962 – 1958. TakeProfit: 1920. StopLoss: according to the pattern rules.

2. Sell according to the pattern at resistance (В) 1983 – 1977. TakeProfit: 1920. StopLoss: according to the pattern rules.

Euro/Dollar forecast for today: EURUSD analysis

The EURUSD is to continue rising from support (А) 1.0672 – 1.0663 in the short-term uptrend. The upside target is the Target Zone 1.0765 – 1.0736. If the TZ is broken out, the next buy target will be the Gold Zone 1.0828 – 1.0820.

If support (A) is broken out, the correction will continue down to support (В) 1.0630 – 1.0617. The latter zone is the trend border, and one could also buy there when a buy pattern emerges. 

EURUSD trading ideas for today:

1. Buy according to the pattern at support (А) 1.0672 – 1.0663. TakeProfit: 1.0724. StopLoss: according to the pattern rules.

2. Buy according to the pattern at support (В) 1.0630 – 1.0617. TakeProfit: 1.0724. StopLoss: according to the pattern rules.

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Price chart of EURUSD in real time mode