Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, GBPJPY, GBPAUD (January 13 – 17, 2020)
Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, GBPJPY, and GBPAUD through January 17, 2019. Watch this video before trading these currency pairs!
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Weekly Forex Forecast for January 13 – 17, 2020
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The EURUSD continued its sideways movement last week.
Friday carved a bullish engulfing candle, but it isn’t convincing enough for me to buy the pair.
Similar to EURUSD, the GBPUSD has been indecisive.
But as I wrote on Friday, this latest round of consolidation shouldn’t surprise anyone.
The pair has given us a few stellar opportunities lately.
The USDJPY ended last week at a critical resistance area.
I made a video about the significance of this 109.50 to 109.70 resistance zone last week.
It’s the intersection of a key horizontal level and the trend line that extends from the November 2018 highs.
GBPJPY is another one we’re keeping a close eye on.
I wrote about this ascending channel last Wednesday.
The confluence of support that has developed at 141.00 is particularly appealing to me.
The GBPAUD is one of the better-looking currency pairs at the moment.
I discussed the potential for a bearish reversal on Tuesday.
The bearish engulfing candle that formed recently on the weekly time frame looked especially ominous for the pair.
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