Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, EURAUD, XAUUSD (January 4 – 8, 2021)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, AUDUSD, EURAUD, and XAUUSD through January 8, 2021. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, EURAUD, XAUUSD (January 4 – 8, 2021)
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EURUSD Forecast
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EURUSD pulled back at the end of last week following a retest of 1.2300.

I’ve had this 1.2300 area on my chart for several weeks.

However, despite some selling pressure going into the New Year’s holiday, the EURUSD still looks bullish.

Continue reading…
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GBPUSD Forecast
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GBPUSD is holding above 1.3480 on a weekly closing basis.

I’d discussed the significance of this level at length in recent weeks.
As I mentioned a couple of weeks ago, GBPUSD bulls needed to secure a weekly close above 1.3480 to confirm the breakout.

AUDUSD Forecast
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I’ve liked AUDUSD higher since early November.

I also talked about how shorts were playing with fire in December.

With AUDUSD now testing the 0.7740 area, we could see some weakness develop, but dips are for buying, in my opinion.

Continue reading…
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EURAUD Forecast
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I first mentioned this EURAUD bearish reversal on December 19th.

The pair had just closed a week below the July 2019 trend line.

That level could be the neckline of a massive head and shoulders pattern.

XAUUSD Forecast
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Gold (XAUUSD) looks ready to break out any day now.

A daily close above the $1,900 resistance area would confirm the breakout and open the door to higher prices.

It would also help confirm the $2,380 measured objective I wrote about on December 7th.

Continue reading…
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