Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (September 7 – 11, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, EURJPY, and XAUUSD through February 7, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (September 7 – 11, 2020)
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EURUSD Forecast
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The EURUSD continues to grind higher despite last week’s pullback.

However, the way the euro is pushing higher hints at the potential for some weakness over the coming days.

Continue reading…
setups/forex-forecast-september-7-11-2020/

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

The pair is still grinding higher, and Friday’s session managed to hold above the 1.3260 level I pointed out last week.

However, the bullish momentum is waning.

USDJPY Forecast
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The USDJPY structure has remained the same for weeks.

As long as the pair stays below 106.40 or thereabouts, there’s a decent chance of a run toward 101.00.

But as I mentioned in the video above, the idea that pairs like EURUSD, GBPUSD, etc. look like they want to move lower casts some doubt over USDJPY.

Continue reading…
setups/forex-forecast-september-7-11-2020/

NZDUSD Forecast
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NZDUSD is holding above key support at 0.6700 as of Friday’s close.

However, as I point out in the video above, the price action over the last few weeks has carved what appears to be a rising wedge pattern.

XAUUSD Forecast
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Gold (XAUUSD) continues to consolidation above 1900 support.

That’s the metal’s previous all-time high.

At the same time, XAUUSD has struggled to carve a higher high in the short-term.

Continue reading…
setups/forex-forecast-september-7-11-2020/

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