Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, AUDJPY, AUDCAD (November 25 – 29, 2019)
Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, AUDJPY, and AUDCAD through November 29, 2019. Watch this Forex analysis before trading these currency pairs!
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Weekly Forex Forecast for November 25 – 29, 2019
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EURUSD sold off from a familiar area last week.
I’ve pointed out the 1.1070 region for several weeks now.
You can see how it has served as a pivot for the euro since late July.
GBPUSD remains in consolidation between 1.2770 and 1.2980.
We’ve been discussing this range for several weeks now.
Notice how the 1.2980 region attracted sellers once again last week.
The USDJPY remained indecisive last week following the November 14 close below wedge support.
So far, sellers have yet to follow through on that breakdown.
At the same time, the USDJPY is still capped below the 109.00 resistance handle.
The AUDJPY may be gearing up for a move lower.
Notice how the pair has carved what could be a rising wedge over the last few months.
But it isn’t the most well-defined pattern I’ve seen.
I wrote about a possible AUDCAD bullish pattern last week.
The inverse head and shoulders isn’t the cleanest formation I’ve seen, but it does still qualify as of now.
However, there’s always the possibility that buyers never quite get behind this pair.
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