Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, XAUUSD, VETUSD (August 3 – 7, 2020)

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

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, XAUUSD, VETUSD (August 3 – 7, 2020)
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EURUSD Technicals
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EURUSD trended higher again last week but lost some momentum in the final hours.

This entire second leg materialized in early July following the close above a bull flag pattern.

I discussed this pattern on June 29th and again, on July 6th.

Continue reading…
setups/forex-forecast-august-3-7-2020/

GBPUSD Technicals
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GBPUSD played out beautifully for those who caught the idea I posted last week.

In fact, I’ve been talking about the potential for a higher GBPUSD for the last two weekends.

In last week’s forecast, I discussed how a close above 1.2815 would target 1.3000.

USDJPY Technicals
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Did USDJPY close below this multi-year pattern last week?

I’ve been discussing this wedge pattern for months.

However, USDJPY wasn’t respecting either level on a daily or weekly closing basis.

Continue reading…
setups/forex-forecast-august-3-7-2020/

XAUUSD Technicals
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XAUUSD (gold) continues to perform exceptionally well.

And I don’t see that changing anytime soon.

Will we have pullbacks?

Of course.

VETUSD Technicals
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VeChain (VETUSD) looks ready to break out again.

If you were here several weeks ago, you’d remember the 150% rally that ensued following the last breakout.

I discussed that opportunity on June 26th and again on July 1st.

Continue reading…
setups/forex-forecast-august-3-7-2020/

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#EURUSD #GBPUSD #USDJPY #XAUUSD #VETUSD #VeChain

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