Midweek Forecast – EURUSD
The EURUSD is already surpassed the November 21 high, potentially aiming for the next target at the vital Zone of 1.0996 - 1.0988. Failure to breach this high could prompt a decline towards the zone of 1.0881 - 1.0826.
Given this scenario, my recommendation is to exit long trades initiated at support (A) at current price levels and observe the market's movement closely.
Should the price break below the level of 1.0826, signalling a shift in the short-term trend downward, it might be opportune to consider selling the euro against the US dollar, targeting the lower Target Zone of 1.0713 - 1.0688.
Midweek Forecast - US OIL
Wednesday morning sees oil prices maintaining a sideways trend. The upper boundary, ranging between 77.81 to 77.31, marks a crucial resistance level within the short-term downtrend. Conversely, the lower boundary rests as a supportive zone spanning from 75.15 to 74.82.
To capitalize on this range-bound movement, I propose engaging in trades at these boundaries—buying at the support level and selling at the resistance level. The strategy involves setting take-profit points at the opposite ends of the trading range.
Should the price breach the resistance range of 77.81 - 77.31, it signifies a potential shift in the short-term trend towards an upward trajectory. In such a scenario, considering purchases with a target aimed at the upper Target Zone of 83.25 - 82.26 would be advisable.
Midweek Gold Forecast - XAUUSD
The gold price has surpassed last week's peak and is now within the range of 2048 - 2036, achieving the projected target. As a result, long trades have proven profitable. Should the price break beyond this range, there's potential for a further ascent toward the Gold Zone of 2079 - 2075.
In the event that sellers maintain control within the Target price, a corrective downturn might lead the price to retreat towards either first support in 2012 - 2009 or second support in 1993 - 1987. Upon testing either support zone, it could present an opportunity for new purchases with a target aimed at reaching today's high
