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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (March 16 – 20, 2020)

By on June 1, 2020 0 36 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 March 20, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (March 16 – 20, 2020)

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EURUSD Forecast
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The EURUSD confirmed a massive false break last week.

If you saw my March 2nd post, you know that I was targeting the 1.1450 resistance area following a break above 1.1170.

That idea played out perfectly.

Continue reading…

GBPUSD Forecast
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In last week’s forecast video, I stated that the GBPUSD needed to take out 1.3170 resistance to extend the rally.

That 1.3170 area is the only reason I wasn’t on board with the bullish GBPUSD scenario.

Of course, I had no idea that the bottom of that 2019 channel would trigger such an intense selloff, but here we are.

USDJPY Forecast
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The USDJPY false break that confirmed on February 27th played out beautifully.

Following that close, the risk-sensitive pair lost more than 800 pips at last week’s low.

You can also see how the pair tested the bottom of that wedge support around 105.60.

Continue reading…

NZDUSD Forecast
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On March 10th, I wrote about an NZDUSD terminal pattern.

The upper boundary of that structure extends from the 2014 high.

The lower boundary, on the other hand, dates back to the 2000 lows.

XAUUSD Forecast
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Contrary to popular belief, XAUUSD (gold) does not share a one-to-one inverse relationship with equities.

Just because stocks are selling off does not mean gold will appreciate during the same period.

The recent XAUUSD sell-off from 1700 is a perfect example.

Continue reading…

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