The medium-term forecast, trading decisions on oil, gold and the EUR / USD on the week week, from 2 to 6 March 2020: USCrude - oil, XAUUSD - gold, EURUSD - EUR / USD
USCrude - oil forecast for the week 2 to 6 March 2020
Last week we saw a test of key resistance of the medium-term downtrend [53.15 - 52.80]. I recommend selling oil from this area with the objectives of: 49.47, Target Zone 5 [47.40 - 47.05]. Both objectives have been achieved.
Now oil is trying to break through the Target Zone 5 and consolidate below. We can say that already pierced area. The next target in the framework of the trend in favor Target Zone 6 [43.90 - 43.55].
New short positions looking at the correction to the key resistance, which is shifted to the mark [49.15 - 48.80]. If the current minimum will be updated in the course of today's trading, or trading on the next week, the resistance will shift lower.
Shopping is not currently under consideration.
USCrude oil Business solutions for the week:
- Sale of the pattern of Target Zone [49.15 - 48.80]. TakeProfit: 45.40, Target Zone 6 [43.90 - 43.55]. StopLoss: according to the rules of the pattern.
XAUUSD - gold forecast for the week: 02-02.03.2020
From now on there are new margin requirements on gold futures traded on the CME Group site. The margin for the contract is set at 5500 USD. This means that the range between the marginal zones become wider. It is necessary to reconstruct the existing zone in accordance with the new requirements.
Let us analyze the graph larger timeframe. We see that at the moment the players are testing key support medium-term uptrend [1634.3 - 1628.8]. Zone is not broken, so the next week will be a priority scenario for shopping search pattern with a view to update the local maximum.
Alternative scenario for sale: breakdown Target Zone, consolidation below and then short positions with the target in the Target Zone 2 [1579.3 - 1573.8].
XAUUSD Business solutions for the week:
- Buying on the pattern of Target Zone [1634.3 - 1628.8]. TakeProfit: 1686.0. StopLoss: according to the rules of the pattern.
EURUSD - EUR / USD forecast for the week 02-04.03.2020
On euro medium-term trend there was an upward shift this week. As a result, the price broke Target Zone [1.0925 - 1.0911] and fixed above. Now consider buying Euro with the target of Target Zone 2 [1.1061 - 1.1047].
Long positions makes sense to look at the correction of the strong supports. The border is a new trend passes at elevations [1.0872 - 1.0858].
Euro sales in the current situation does not seem possible.
EURUSD Trading solutions for the week:
- Buying on the pattern of Target Zone [1.0872 - 1.0858]. TakeProfit: 1.10, Target Zone 2 [1.1061 - 1.1047]. StopLoss: according to the rules of the pattern.
IZ - Intermediary Zone (intermediate zone): is responsible for the change in the priority direction of price movement.
TZ - Target Zone (target zone): zone which with 75% probability is achieved after a breakdown IZ.
GZ - Gold Zone (Golden Zone): A zone in the medium-term momentum.
All zones are calculated based on the average daily travel tool and margin requirements in the futures market.
Analytics and Forex forecast for the week LiteForex