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Weekly forecast for oil, gold and EUR/USD

June 26, 2020

June 26, 2020

Weekly forecast for oil, gold and EUR/USDAlex Rodiоnov

USCrude – oil

This week, the oil price has reached Target Zone 5 [41.67 -  40.92], the main buy target in the middle-term uptrend.

Buyers have not broken out the resistance, and the price has rolled down. The oil price is being corrected down. The possible target of the correction is the trend key support [33.64 — 32.86].

When the key support is reached by the price, I recommend entering new purchases according to the pattern with the target to break through the high of this week.

Aggressive traders may consider sell trades in the correction with the target at the lower Target Zone, there is a sell pattern in shorter timeframes.

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

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

  1. Buy according to the pattern in Target Zone [33.64 - 32.86]. TakeProfit: 41.40. StopLoss: according to the pattern rules.

  2. Aggressively: sell at the current prices. TakeProfit: Target Zone [33.64 - 32.86]. StopLoss: 40.51.

XAUUSD – gold

I congratulate those who have followed my recommendations to buy gold and held the trades up to the target! The gold price has reached level 1765.0 and broken through the May’s high this week.

All purchases should be closed now as the buyers are trying to break out the strong resistance Target Zone 5 [1757.2 - 1751.2]. If they do, the nest upside target will be Target Zone 6 [1817.2 – 1811.2]. If they fail, the price will be corrected down.

If the price is being corrected down, one may consider sell trades in the short-term timeframe. However, the medium-term trend will be up until the key support is broken out downside.

![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 [1697.3 - 1689.1]. TakeProfit: 1778.0. StopLoss: according to the pattern rules.

EURUSD – euro/dollar

In the previous weekly analytics, I wrote:

“The EUR/USD is testing the key support of the middle-term uptrend [1.1240 – 1.1222]. Yesterday, the US session closed below the zone for the first time. If the US session closes below level 1.1222 again today or next week, we shall record the support breakout and start selling the EUR/USD on the next trading day with the target at Target Zone 2 [1.1058 – 1.1040]. ”

On the same day, last Friday, the US session closed the EURUSD below Target Zone [1.1240 – 1.1222] for the second time. The middle-term trend turned down.

This week, the euro-dollar price tested the key resistance of the new downtrend at 1.1368 – 1.1350], and the sellers reacted.

In the new down momentum, the price has quickly reached the previous strong support [1.1240 – 1.1222]. Traders are now trying to again consolidate the price below the zone and break through the low of last week.

The trading ideas for next week are as follows:

  1. If the support at [1.1240 – 1.1222] is held up, it will be relevant to buy the euro with the target to break through the high of this week.
  2. If the low of last week is broken through, we shall move the resistance and enter new sell trades in the zone.

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

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

  1. Buy according to the pattern in Target Zone [1.1240 - 1.1222]. TakeProfit: 1.1350. StopLoss: according to the pattern rules.

  2. If the low of last week is broken through, sell on the correction in the key resistance zone. More detailed information is written in the daily analytics.

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.

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.

Useful links:

  • I recommend trying to trade with a reliable broker [here][7]. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while [depositing][8] your trading account.
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

Price chart of EURUSD 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_260620.png?w=30&s=bdbd5ab1f02108404761bd35d0c23ffd
  2. my.liteforex.com/trading?type=oil
  3. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/XAUUSD_analysis_260620.png?w=30&s=8ac09e0a65674b0496ae60379ebc2664
  4. my.liteforex.com/trading/chart?symbol=XAUUSD&returnUrl=true
  5. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/EURUSD_analysis_260620.png?w=30&s=2f5fe75a5cb7bf5caec649e7f975eaee
  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-2020-06-26&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-2020-06-26&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus
  9. cdn.liteforex.com/cache/uploads/blog_post/commodities/forex_forecast_3.jpeg?q=75&w=1000&s=5ed77b29ca34098663f3202c30c5cc1c