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Weekly forecast for oil, gold and EUR/USD

June 12, 2020

June 12, 2020

Weekly forecast for oil, gold and EUR/USDAlex Rodiоnov

USCrude – oil

Oil price has been corrected in the middle-term uptrend this week. The correction target is to test Target Zone [31.01 – 30.11]. I expect the price to reach this zone next week. Once it happens, it will be relevant to enter new purchases according to the pattern. The buy target will be to break through the high of this week and Target Zone 5 [41.67 - 40.92].

It will be relevant to sell oil when sellers break out Target Zone and consolidate the price below at least at two trade sessions. In this case, the medium-term trend will turn down. However, I do not see any reasons to discuss it now.

![LiteForex: Weekly forecast for oil, gold and EUR/USD][1]

**[USCrude][2]Trading tips for the upcoming week: **

Buy according to the pattern in Target Zone [31.01 - 30.11]. TakeProfit: 39.75, Target Zone 5 [41.67 -  40.92]. StopLoss: according to the pattern rules.

XAUUSD – gold

Last week, I recommended the following, “When the key support is tested, I suggest looking for a buy pattern and entering purchases with a target to break through the previous monthly high.”

At the end of last week, on June 5, the price reached the trend key support [1673.6 – 1664.4]. The buy pattern has emerged this week.

For today and next week, I recommend buying gold according to the false breakout pattern with the first target at Target Zone 5 [1757.2 – 1751.2], the second target is at May high.

I do not recommend selling gold counter the trend.

![LiteForex: Weekly forecast for oil, gold and EUR/USD][3]

**[XAUUSD][4]  Trading tips for the upcoming week: **

Buy according to the pattern in Target Zone [1673.6 - 1664.4]. TakeProfit: Target Zone 5 [1757.2 - 1751.2], 1765.0. StopLoss: 1690.0.

EURUSD – euro/dollar

The EUR/USD is trading in the middle-term uptrend. This week, the price has consolidated above Target Zone 3 [1.1291 – 1.1273]. The next upside target is Target Zone 4 [1.1473 – 1.1455].

Next week, we shall expect the test of the trend key support [1.1240 – 1.1222] and look for a buy pattern. If there is a buy pattern, I will recommend buying the euro with the target at the high of this week and TZ4.

Otherwise, if the price breaks through the low of last week and Target Zone [1.1240 – 1.1222], the middle-term trend will turn down. The sell target in this case will be Target Zone 2 [1.1058 — 1.1040].

![LiteForex: Weekly forecast for oil, gold and EUR/USD][5]

**[EURUSD][6]  Trading tips for the upcoming week: **

Buy according to the pattern in Target Zone [1.1240 - 1.1222]. TakeProfit: 1.1420, Target Zone 4 [1.1473 - 1.1455]. StopLoss: according to the pattern rules.

IZ - Intermediary Zone: responsible for the price momentum reversing

TZ - Target Zone: a zone that is 75% likely to be reached after IZ breakout.

GZ - Gold Zone: zone in the medium-term momentum.

All zones are calculated based on the average daily price of the instrument and margin requirements of the futures.

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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 XAUUSD in real time mode

![Weekly forecast for oil, gold and EUR/USD][9]

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. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/USCrude_analysis_120620.png?w=30&s=3b051fa242257829fcb52522c22c4b17
  2. my.liteforex.com/trading?type=oil
  3. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/XAUUSD_analysis_120620.png?w=30&s=a8428993f98fbccf1a8274ae0704bda2
  4. my.liteforex.com/trading/chart?symbol=XAUUSD&returnUrl=true
  5. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/EURUSD_analysis_120620.png?w=30&s=22230a764bf1fd17cabc0d8f0877f45e
  6. my.liteforex.com/trading/chart?symbol=EURUSD&returnUrl=true
  7. my.liteforex.com/?category=analysts-opinions&slug=weekly-forecast-for-oil-gold-and-eurusd-2020-06-12&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
  8. my.liteforex.com/deposit/?category=analysts-opinions&slug=weekly-forecast-for-oil-gold-and-eurusd-2020-06-12&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus
  9. cdn.liteforex.com/cache/uploads/blog_post/commodities/forex_16.jpeg?q=75&w=1000&s=80de673045f9b6fa36484f4973e76524