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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, EURGBP, GBPCAD (February 24 – 28, 2020)

By on July 15, 2020 0 25 Views
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Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, EURGBP, and GBPCAD through February 28, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, EURGBP, GBPCAD (February 24 – 28, 2020)

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EURUSD Forecast
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The EURUSD reached the bottom of a descending channel that I’ve discussed since September of last year.

That 1.0780 area is what triggered last week’s bounce.

Not only did the EURUSD carve a weekly candle with a long lower wick, but the pair also closed back above the 1.0825 key level.

Continue reading…

GBPUSD Forecast
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We got a decent move lower from GBPUSD last week after testing the 1.3050/70 resistance area I pointed out last Sunday.

However, that recent swing low at 1.2870 attracted buyers once again.

You can see how Friday’s session rallied from 1.2870 support and even retested the 1.2980 resistance area.

USDJPY Forecast
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The USDJPY is on the move again.

After months of consolidating, the risk-sensitive pair ripped 250 pips higher last week.

Most of those gains occurred on Wednesday when the pair closed higher by 150 pips, clearing that May 6, 2019 gap at 111.10.

Continue reading…

EURGBP Forecast
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The EURGBP idea in today’s forecast is more speculative than most.

However, there are a few reasons why I like the idea of a bottom here.

GBPCAD Forecast
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GBPCAD has been on my radar since February 7th.

The rising broadening wedge hinted at exhaustion from buyers, as did the lower high from late January and early February.

Continue reading…

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