Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, GBPNZD, XAUUSD (December 7 – 11, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, AUDUSD, GBPNZD, and XAUUSD through December 11, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, GBPNZD, XAUUSD (December 7 – 11, 2020)
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EURUSD Forecast
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Last week, we looked at a possible breakout from EURUSD.

It’s an idea I’ve written about several times as far back as October 21st.

Last week’s close above 1.2010 confirmed the breakout, which triggered a retest of the 1.2150 resistance area.

Continue reading…
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GBPUSD Forecast
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GBPUSD experienced its most significant breakout all year last week.

In fact, I could argue that it was the pound’s most significant break in years.

The close above the 1.3340 signaled the pair’s exit from a twenty-year falling wedge pattern.

AUDUSD Forecast
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AUDUSD is another currency pair that broke out from key resistance recently.

I’ve liked the pair higher since the November 3rd breakout.

Just last week, the Australian dollar closed above the 0.7400 area.

Continue reading…
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GBPNZD Forecast
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On November 12th, I wrote about a potential short opportunity on GBPNZD.

It was a breakdown we’ve anticipated since October 26th.

XAUUSD Forecast
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Gold (XAUUSD) may have bottomed last week.

If you saw last week’s forecast, you knew about the two channel bottoms.

One was near $1,750 while the other was closer to $1,700.

Continue reading…
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High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.