Weekly Forex Forecast for EURUSD, GBPUSD, NZDUSD, EURCAD, XAUUSD (July 13 – 17, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, NZDUSD, EURCAD, and XAUUSD through July 17, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, NZDUSD, EURCAD, XAUUSD (July 13 – 17, 2020)
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EURUSD Technicals
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The EURUSD broke out of a descending channel resistance.

However, so far, buyers have been unsuccessful in pushing the price above the 1.1350 resistance level.

So, although the euro is holding above the 1.1230 support area, momentum is lacking.

Continue reading…
setups/forex-forecast-july-13-17-2020/

GBPUSD Technicals
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GBPUSD encountered sellers last week just below the 1.2670/80 resistance area.
I wrote about this trend line last week.

As of now, GBPUSD bulls need to secure a daily close above 1.2670 to send the pair higher toward the 1.2800 area.

NZDUSD Technicals
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NZDUSD closed above a significant level last week.

I wrote about 0.6550 in last week’s forecast.

I’ve also talked about how June’s close back inside a twenty-year wedge pattern confirmed the recent false break below support.

Continue reading…
setups/forex-forecast-july-13-17-2020/

EURCAD Technicals
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The EURCAD chart is messy.

There’s no other way to say it.

However, trends usually develop following periods of consolidation.

XAUUSD Technicals
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XAUUSD (gold) had a big week.

I’ve liked the metal higher for months now, and I’ve stated in the past that a close above 1800 could pave the way for a run at all-time highs near 1900.

XAUUSD managed a close above 1800 last Wednesday.

Continue reading…
setups/forex-forecast-july-13-17-2020/

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