Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, XAUUSD, Altcoins (August 31 – September 4, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, XAUUSD, and Altcoins through September 4, 2020. Watch this video before trading these currency pairs!

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, XAUUSD, Altcoins (August 31 – September 4, 2020)
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EURUSD Forecast
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EURUSD bulls are still in charge as of last week’s close.

As I mentioned to DPA members last week, I managed to get out of my EURUSD long from July 7th for a 500+ pip gain.

I also shorted the EURUSD on the 19th and made just over 60 pips, and went long again following the August 24th session.

Continue reading…
setups/forex-forecast-august-31-september-4-2020/

GBPUSD Forecast
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GBPUSD broke free from its consolidation last week with a close above 1.3250.

If the 1.3250 holds on a daily closing basis, I like the idea of a push higher into key support near 1.3500.

Alternatively, a close back below 1.3250 would negate the idea.

USDJPY Forecast
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The USDJPY continues to look weak against the 106.00 area.

The wedge/triangle below is a structure I’ve discussed for months.

However, the tricky part about trading away from this structure is that USDJPY is only respecting it on a monthly closing basis.

Continue reading…
setups/forex-forecast-august-31-september-4-2020/

XAUUSD Forecast
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If you saw last week’s forecast, you know about the wedge pattern that formed on gold (XAUUSD).

Because of the multi-year uptrend, I’ve been bullish on gold since April 1st.

Altcoins Forecast
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In case you aren’t familiar with the term, altcoins are all cryptocurrencies other than Bitcoin.

That includes assets like ETH and VET, to name just a couple.

Continue reading…
setups/forex-forecast-august-31-september-4-2020/

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#EURUSD #GBPUSD #USDJPY #XAUUSD #Altcoins #Forex

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