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Weekly forecast for oil, gold and EUR/USD

July 3, 2020

July 3, 2020

Weekly forecast for oil, gold and EUR/USDAlex Rodiоnov

O il price forecast for next wee k: USCrude analysis

The entire week, oil has been trading below Target Zone 5 [41.67 - 40.92], the middle-term trend is, however, up.

It is clear from the chart that the oil price is gradually growing. The upside target is to break through the high of June. Once June high is broken through, we shall see if the buyers will consolidate the price above TZ 5. If they do, the next buy target will be TZ 6 [49.17 — 48.42].

The trend key support is now in the price range of [33.64 – 32.86]. To buy oil at good prices, I suggest expecting the test of the support zone and look for a buy pattern.

![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 [33.64 - 32.86]. TakeProfit: 41.40. StopLoss: according to the pattern rules.

Gold price forecast for next wee k: XAUUSD

analysis ****

Gold middle-term uptrend continues. The upside target is Target Zone 6 [1817.2 - 1811.2].

The price has broken through the previous local high this week. Therefore, the trend key support is now in the zone of [1707.1 – 1699.0]. To enter new gold buy trades at good prices, we shall expect the price correction down to the key support zone and look for a buy pattern there.

There have been no sell signals so far. One could sell gold in the correction if there is a false breakout pattern in the longer timeframe.

![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 [1707.1 - 1699.0]. TakeProfit: 1788.0, Target Zone 6 [1817.2 - 1811.2]. StopLoss: according to the pattern rules.

E uro/dollar price forecast for next wee k: EURUSD

analysis ****

The trading ideas for this week were 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]

As you see from the chart, the eurusd traders are holding up the support at [1.1240 – 1.1222]. There is no sell pattern, although the EURUSD middle-term trend is down, according to the margin zone methodology.

Therefore, I recommend either holding the buy trades entered in the support zone of [1.1240 – 1.1222] or entering new purchases at the current prices with a stop loss below the weekly low.

If the price goes down and breaks through the weekly low, there will emerge a sell pattern, and we shall look for a sell entry.

![LiteForex: Weekly forecast for oil, gold and EUR/USD][6]

[EURUSD][7]  Trading tips for the upcoming week:

  1. Hold up buy trades entered in Target Zone [1.1240 - 1.1222]. TakeProfit: 1.1410. StopLoss: 1.1180.

  2. Buy at current prices. TakeProfit: 1.1410. StopLoss: 1.1180.

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 EURUSD in real time mode

![Weekly forecast for oil, gold and EUR/USD][10]

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_030720.png?w=30&s=dc0bc1a45f8afb86d49cebaf1b5d2cfd
  2. my.liteforex.com/trading?type=oil
  3. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/XAUUSD_analysis_030720.png?w=30&s=6b1f4b79ff2a0fc2cb85d7777a48446e
  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. cdn.liteforex.com/cache/uploads/blog_post/commodities/analytics/EURUSD_analysis_030720.png?w=30&s=9fde41315def3e825bfd3def66f71f4b
  7. my.liteforex.com/trading/chart?symbol=EURUSD&returnUrl=true
  8. my.liteforex.com/?category=analysts-opinions&slug=weekly-forecast-for-oil-gold-and-eurusd-2020-07-03&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
  9. my.liteforex.com/deposit/?category=analysts-opinions&slug=weekly-forecast-for-oil-gold-and-eurusd-2020-07-03&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus
  10. cdn.liteforex.com/cache/uploads/blog_post/commodities/trading_9.jpeg?q=75&w=1000&s=b7548a164b4dffab23bde1a29cc06b40