Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (November 18 – 22, 2019)
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Watch the hottest Weekly Forex Forecast to see how Justin Bennett is investing the EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD (gold) by means of November 22, 2019. Watch this video clip prior to investing these forex pairs!
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Weekly Forex Forecast for November 18 – 22, 2019
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EURUSD bounced proper exactly where we thought it may well very last week.
We have been retaining an eye on the 1.0990 – 1.1020 support location for the very last two months.
Positive plenty of, the EURUSD strike a small of 1.0989 on Thursday prior to bouncing better by 68 pips.
Buyers confront a critical exam this week at 1.1070 with a shut higher than that using on 1.1170/80.
Alternatively, a shut underneath 1.1020 would be a sign of weak point.
GBPUSD continued its consolidation very last week.
I even now maintain the thought that it’s going to acquire a shut higher than 1.2980 to expose 1.3170.
Alternatively, a each day shut underneath 1.2770 would expose 1.2570.
The USDJPY confirmed the growing wedge sample on Thursday.
However, the rapid retest on Friday does go away me pondering if very last week’s breakdown was a wrong move.
It’s going to acquire some rapid promoting pressure this week to observe-by means of on Thursday’s shut.
Alternatively, a shut higher than 108.ninety six would be a sign of strength.
NZDUSD purchasers aren’t backing down just nonetheless.
The pair caught a bid very last week from the .6320 location, but purchasers even now need to have to safe a each day shut higher than .6430 to verify the inverse head and shoulders.
This kind of a shut would expose .6490 while a shut underneath .6320 would delay the thought.
The XAUUSD (gold) consolidation we’ve seen since August could lead to a split better.
But purchasers have to acquire out wedge resistance in close proximity to 1500 to do that.
This kind of a split would expose 1550 while a shut underneath 1450 would delay that outlook.
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