Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (November 9 – 13, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD through November 13, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (November 9 – 13, 2020)
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EURUSD Forecast
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The EURUSD broke above a key trend line on Friday.

If the 1.1825 area holds as support this week, we will likely see the euro push into 1.1950/70.

That’s the resistance level that needs to break on a daily closing basis to expose higher levels.

Continue reading…
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GBPUSD Forecast
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GBPUSD is holding above the May trend line I wrote about several weeks ago.

As long as the pound is above that level, this uptrend is intact.

However, GBPUSD needs a close above 1.3170 to expose higher levels including 1.3260.

USDJPY Forecast
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USDJPY finally broke below 104.20 last week.

That was our previous target back on October 14th.

As long as USDJPY is below 104.20 on a daily closing basis, I like the idea of a move lower to 101.00.

Continue reading…
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NZDUSD Forecast
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On October 27th, I wrote about how the NZDUSD trend was likely to continue above 0.6800.

The monthly chart continues to look bullish, and 0.6500 support is intact.

XAUUSD Forecast
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XAUUSD closed above 1930 last week and simultaneously carved a higher high.

That was the requirement for gold to turn higher.

As long as 1930 holds as support this week, I like XAUUSD higher toward 2015 and perhaps 2075.

Continue reading…
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