Dear traders and readers of my posts in LiteForex blog. In my middle-term forecasts, I want to compare the previous and the current market situations as a tradition. We shall see how often and how accurately my middle-term forecasts and patterns work out for each instrument.

USCrude – oil

In the previous overview, I suggested a middle-term uptrend and a target in Target Zone 4 [58.64 – 58.29].

This week, oil price has worked out the main scenario and reached the suggested buy target. The further trend is not clear, since buyers need to consolidate the price above the resistance to drive it higher into TZ 5 [62.36 – 61.99].

The middle-term trend is still upward, and so, in case of the price correction into the key support zone [55.02 – 54.65], we shall first of all look for buys according to the pattern The buy target will be at the local high.

The trend will reverse and we will sell if level 54.65 is broken out, and the price is closed below at the US sessions.

 

USCrude  trading tips for next week:

Buy according to the pattern from the key support[55.02 – 54.65]. TakeProfit: 58.66. StopLoss: ccording to the pattern rules.


XAUUSD – золото

Last week, gold price went close to Target Zone 2 [1278.7 – 1275.3] but couldn’t reach the zone right away. As a result, the correction started which is still going on.

In my previous middle-term forecast, I recommended expecting good sell prices.

I recommend the same for next week. Expect good prices in the zone of [1326.3 – 1314.9] and sell, based on the pattern in the shorter timeframe. The zone of good prices includes the resistance level of the “left shoulder” of the technical pattern and the trend key resistance Target Zone. The target is to break through the low of last week and reach TZ2.

 

XAUUSD trading tips for next week:

Sell according to the pattern from the zone of [1326.3 – 1314.9]. TakeProfit: 1281.6. StopLoss: according to the pattern rules.


EURUSD – евро/доллар

The quote form the previous forecast:

“If the support is held up, we can expect a correction that will provide an opportunity to consider new short trades at better prices. The key resistance of the trend is now at [1.1378 – 1.1360].”

The support Target Zone 2 [1.1201 – 1.1183] hasn’t been broken through and the price correction correction started. When TZ [1.1378 – 1.1360] is reached, I recommend looking for sell signals, as, based on the methodology, the middle-term trend is downward, and the best prices to trade in the trend are in the above resistance zone.

I recommend middle-term term purchases only in a single case, if the trend key resistance is broken out and the price is closed above the zone at two consecutive US sessions. In this scenario the target will be Target Zone 2 upside [1.1562 – 1.1544].

 

EURUSD trading tips for next week:

Sell according to the pattern in the resistance [1.1378 – 1.1360]. TakeProfit: 1.1183. 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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Price chart of USCrude in real time mode

Middle-term forecast for oil, gold and EUR/USD

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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