Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, GBPNZD, XAUUSD (December 14 – 18, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, GBPNZD, and XAUUSD through December 18, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, GBPNZD, XAUUSD (December 14 – 18, 2020)
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EURUSD Forecast
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The EURUSD started the week with a pullback after testing the 1.2150 resistance area.

As Daily Price Action members know, I entered a long position on November 27th before the pair broke out from 1.20.

Continue reading…
37chByz

GBPUSD Forecast
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GBPUSD looked ready for higher ground last week after breaking above a multi-year falling wedge.

I’ve discussed that pattern a few times in recent weeks.

However, Brexit concerns had traders on edge before the weekend, which led to a GBPUSD close below the 1.3270 to 1.3320 area.

USDJPY Forecast
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I wrote about this USDJPY 2012 trend line on Wednesday.

It isn’t the most established level, but I think it’s significant based on how the market has reacted to it in recent weeks.

Continue reading…
37chByz

GBPNZD Forecast
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I’ve discussed the GBPNZD short opportunity for months.

We first looked at the lower highs that were forming on October 26th.

I also took a short position in late October based on those lower highs and a weekly bearish pin bar that had developed.

XAUUSD Forecast
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Gold (XAUUSD) faltered last week after closing above $1,850 on Monday.

As I mentioned in a members-only video a couple of weeks ago, I think gold is starting to lose some of its luster next to Bitcoin.

JPMorgan said something similar last week.

Continue reading…
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