Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, EURAUD, XAUUSD (December 28 – January 1, 2021)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, EURAUD, and XAUUSD through January 1, 2021. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, EURAUD, XAUUSD (December 28 – January 1, 2021)
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EURUSD Forecast
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The EURUSD pulled back last week but caught a bid at 1.2140 before the weekend.

That 1.2140 area is key support to start the new week.

As long as that area holds on a daily closing basis, the 1.2330 resistance area is exposed.

Continue reading…
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GBPUSD Forecast
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GBPUSD continues to look relatively bullish across the board.

I’ve discussed this falling wedge pattern several times.

The multi-year structure above suggests a higher GBPUSD in 2021, but only if buyers can clear 1.3340 this month.

USDJPY Forecast
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USDJPY is in the process of breaking down from an uptrend that began in 2012.

I first mentioned the potential for a bearish move on December 9th.

We were waiting for a weekly close below the 103.60 region before considering a short.

Continue reading…
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EURAUD Forecast
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I mentioned the potential EURAUD head and shoulders in last weekend’s forecast.

We also reviewed the setup last week on the blog.

Since that time, the pair has tested the 1.6150 region as new resistance and is holding well below that region.

XAUUSD Forecast
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Gold (XAUUSD) looks ready to punch higher any day now.

The bull flag pattern below is getting stretched, and the pair recently bounced aggressively from the $1,750 support area.

I discussed the potential for that bounce in the November 28th forecast.

Continue reading…
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