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Weekly Forex Forecast for EURUSD, GBPUSD, EURJPY, EURNZD, XAUUSD (January 20 – 24, 2020)

By on August 14, 2020 0 38 Views
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Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, EURJPY, EURNZD, and XAUUSD through January 24, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, EURJPY, EURNZD, XAUUSD (January 20 – 24, 2020)

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EURUSD Forecast
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The EURUSD ended last week at a critical support area.

We have discussed this region between 1.1070 and 1.1080 for weeks now.

Notice how it’s the intersection of a key horizontal level that dates back to July of last year and ascending channel support from the 2019 low.

Continue reading…

GBPUSD Forecast
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The GBPUSD ended the week with a bearish engulfing pattern.

I discussed this signal and the November 2019 trend line you see below on Friday.

From the way GBPUSD finished out the week, a rotation lower this week wouldn’t surprise me.

EURJPY Forecast
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The EURJPY could be one to watch over the coming weeks.

That’s especially true if we see the euro continue to weaken.

I’m mostly interested in an eventual close below ascending channel support, which comes in near 121.00.

Continue reading…

EURNZD Forecast
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The EURNZD looks appealing for the week ahead.

We have a couple of things occurring here.

The first is the short-term ascending channel you see in the chart below.

XAUUSD Forecast
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The XAUUSD has spent the majority of 2020 consolidating.

But that shouldn’t come as a surprise to frequent visitors to this site.

We know gold is coming off an incredible run that materialized with the December 23rd close above the confluence of resistance at 1480.

Continue reading…

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