USCrude – oil

This week there happened a breakout and consolidation above Target Zone 4 [58.66 – 58.29]. The middle-term uptrend continues. The target for the next week will be Target Zone 5 [62.36 – 62.00].

Seek for shorts in the correction to the key support level according to the pattern. The boundaries of the area are [55.83 – 55.40]. If you find a buy signal, fix the positions in the area of the current maximum.

For short positions the price will have to break through the key support level and close below. In this case, we shall work in the short down to Target Zone 2.

USCrude Trading tips for the next week:

Buy according to the pattern from the key support level [55.83 – 55.40]. TakeProfit: 60.00, Target Zone 5 [62.36 – 62.00]. StopLoss: according to the pattern rules.

XAUUSD – gold

A week ago I recommended to wait for the favourable prices to sell in the area of [1326.3 – 1314.9].

This week, the price reached the bid area. For the next week I recommend looking for short positions according to the pattern in the smaller timeframes from the bid area. The middle-term trend is still downward, the main target of it is renewal of the March minimum and reaching Target Zone 2 [1278.7 – 1275.3].

Alternative option: breaking through the 1326.3 level and closing trading sessions above. In this case, we shall consider middle-term buys with the aim of renewing the February maximum.

XAUUSDTrading tips for the next week:

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


For this week I recommended looking for short positions in the pattern from the key resistance level of the downtrend [1.1378 – 1.1360]. There is no pattern for short as of Friday, even with the resistance holding its position.

Continue looking for shorts as there is still a downward priority.

For longs it is crucial to have yet another American trading session closed above the 1.1378 level. If this happens, the middle-term trend will change into the upward one and Target Zone 2 [1.1562 – 1.1544] shall become the target.

I recommend to note how the price interacts with the previous local maximum. It is responsible for the trend reversal. In case it breaks through and consolidate above the level of this maximum (1.1420), we will have the double confirmation for the trend reversal.

EURUSD Trading tips for the next week:

  1. Sell according to the pattern from the key resistance level [1378 – 1360]. TakeProfit: 1183. StopLoss: according to the pattern rules.
  2. In case the price breaks through and consolidates above the key resistance level [1.1378 – 1.1360] in the end of the American trading session – buy in the correction. TakeProfit: Target Zone 2 [1.1562 – 1.1544]. StopLoss: 1.1173.

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 XAUUSD 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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