Weekly Forex Forecast for EURUSD, GBPUSD, NZDUSD, XAUUSD, ETHUSD (August 17 – 21, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, NZDUSD, XAUUSD, and ETHUSD through August 21, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, NZDUSD, XAUUSD, ETHUSD (August 17 – 21, 2020)
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EURUSD Forecast
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EURUSD spent a second week consolidating between 1.1700 support and 1.1900 resistance.

It isn’t surprising considering the aggressiveness of the July rally.

Many who entered during that rally have taken profit, while others who were on the sideline have had time to accumulate.

Continue reading…
setups/forex-forecast-august-17-21-2020/

GBPUSD Forecast
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GBPUSD is in a similar situation to that of EURUSD.

The pair continued its consolidation last week between 1.2980 support and 1.3160 resistance.

The latter is the confluence of resistance that I mentioned in last week’s forecast.

NZDUSD Forecast
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NZDUSD has pulled back of late after tagging the 0.6720 area.

However, I think sellers need to be careful here.

The pair is still trading above the top of that multi-year wedge pattern.

Continue reading…
setups/forex-forecast-august-17-21-2020/

XAUUSD Forecast
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XAUUSD (gold) suffered a significant loss last Tuesday.

At more than five percent, it was the largest single-day drop in the last few years.

Even the March selloff didn’t register a loss that significant, at least not at the daily close.

ETHUSD Forecast
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I first wrote about ETHUSD (Ethereum) on June 4th.

At the time, the cryptocurrency was trading near $230.

Fast forward to today, and it’s holding firm at $435, a gain of 90%.

Continue reading…
setups/forex-forecast-august-17-21-2020/

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#EURUSD #GBPUSD #XAUUSD #NZDUSD #ETHUSD #Forex

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