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Technical analysis for US Crude, XAUUSD, EURUSD for 5

2020-10-02

2020-10-02

Medium-term forecast for oil, gold, and EURUSD 02.10.2020Alex Rodionov

I welcome my colleagues! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest trading signals for traders who trade in medium-term trends.

This week, the EUR/USD has been correcting up, following the price fall that continued over the past few weeks.

The article covers the following subjects:

Oil price forecast for next week: USCrude analysis

Oil is trading in the medium-term uptrend. The resistance is Target Zone 5 [41.67 – 40.92]. The support is Target Zone [37.34 – 36.72].

This week, the price has been down. The price is now again getting close to the trend key support. If bears break the zone out and consolidated below at two trading sessions, the medium-term trend will turn down. In this case, we shall sell oil with the target in the lower Target Zone 2 [31.14 – 30.52].

To buy oil, we need a pattern, a false breakout, for example. There is no buy pattern as of now.

[USCrude ][1]Trading tips for the upcoming week:

Expect the breakout of the key support [37.34 - 36.72] and sell oil on the zone retest according to the pattern. TakeProfit: Target Zone 2 [31.14 - 30.52]. StopLoss: according to the pattern rules.

Gold price forecast for next week: XAUUSD analysis

This week, gold has been correcting up in the middle-term downtrend. I do not think the correction has finished. The correction target is to test the broken-out Target Zone [1922.4 - 1913.1] and the inclined line of the triangle (see the screenshot).

After the resistance zones are tested, I recommend entering sell trades with the target at Target Zone 2 [1829.4 – 1820.1].

The trend border is in the zone [1951.0 – 1941.7]. This is the second zone to enter short positions.

[XAUUSD][2] Trading tips for the upcoming week:

  1. Sell according to the pattern in Target Zone [1922.4 - 1913.1]. TakeProfit: Target Zone 2 [1829.4 - 1820.1]. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Target Zone [1951.0 - 1941.7]. TakeProfit: Target Zone 2 [1829.4 - 1820.1]. StopLoss: according to the pattern rules.

Euro/dollar price forecast for next week: EURUSD analysis

This week, the euro has been corrected up, following the price fall that continued over the past few weeks. The EURUSD medium-term trend is down.

Following the correction, the price reached the resistance level of 1.1752, bears are reacting to this level. Expect the sell pattern to form. The pattern will form when the price breaks out the low of September 30 and consolidate below.

If the pattern to sell at level 1.1752 doesn’t appear, the upward correction will continue to the trend key resistance [1.1832 - 1.1812]. One could enter short trades in the zone according to the trend.

[EURUSD][3] Trading tips for the upcoming week:

  1. Sell according to the pattern at level 1.1752. TakeProfit: Target Zone 2 [1.1611 - 1.1591]. StopLoss: according to the pattern rules.

  2. Sell according to the pattern in Target Zone [1.1832 - 1.1812]. TakeProfit: Target Zone 2 [1.1611 - 1.1591]. StopLoss: according to the pattern rules.

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.

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Price chart of EURUSD in real time mode

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. my.liteforex.com/trading?type=oil
  2. my.liteforex.com/trading/chart?symbol=XAUUSD&returnUrl=true
  3. my.liteforex.com/trading/chart?symbol=EURUSD&returnUrl=true
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