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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (April 20 – 24, 2020)

By on June 5, 2020 0 22 Views
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Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD through April 24, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (April 20 – 24, 2020)

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EURUSD Forecast
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The EURUSD is nearing the end of a massive terminal pattern.

I discussed the multi-year wedge below on April 14th and again on April 16th.

Continue reading…

GBPUSD Forecast
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Compared to the EURUSD, the GBPUSD isn’t doing much at all.

The pair continues to trade in narrow ranges, this time between 1.2450 and 1.2600.

Furthermore, there’s no momentum here.

USDJPY Forecast
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If traders think the EURUSD monthly chart above introduces a pivotal moment for the euro, the USDJPY chart below will make your head spin.

Now, to be fair, I’ve seen the monthly pattern above before.

If you aren’t familiar with technical analysis, the three shaded boxes in the chart above illustrate what could be a twenty-year inverse head and shoulders.

Continue reading…

NZDUSD Forecast
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NZDUSD continued its sideways consolidation last week.

I’ve written about the potential to sell the New Zealand dollar at higher prices, but timing is critical, as always.

Those who chased NZDUSD down last week got burned or at least shaken out of their shorts with Friday’s rally.

XAUUSD Forecast
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Following an aggressive rally that began on March 20th, the XAUUSD (gold) finally went through some profit-taking on Friday.

The pair did close the day below 1690, which could serve as resistance this week.

But as always, Monday’s open will be critical.

Continue reading…

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#EURUSD #GBPUSD #USDJPY #NZDUSD #XAUUSD #Forex

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