Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD (April 27 – May 1, 2020)
Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, AUDUSD, and XAUUSD through May 1, 2020. Watch this video before trading these currency pairs!
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(Video) Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD (April 27 – May 1, 2020)
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The EURUSD edged lower last week but managed to close above the twenty-year trend line from the 2000 lows.
I’ve discussed this pattern several times in recent weeks.
After several weeks of indecision, the GBPUSD is finally starting to look attractive.
It doesn’t date back as far as I’d like, but the potential for a head and shoulders reversal does exist.
I highlighted this pattern in the member forums last week as well.
If you saw last week’s forecast, you’ve seen the monthly chart below.
Some may see it as a long shot, but the fact is that markets move thousands of pips all the time.
The AUDUSD managed to climb higher last week after some initial weakness.
I wrote about the rising wedge here on April 20th.
XAUUSD (gold) played out perfectly for Daily Price Action members last week.
In that video, I discussed a short-term trend line from the March 9th high, which intersected with last week’s price action at 1659.
I talk about this in the video above.
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#EURUSD #GBPUSD #USDJPY #AUDUSD #XAUUSD #Forex
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