Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, EURAUD, XAUUSD (October 19 – 23, 2020)

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Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, EURAUD, and XAUUSD through October 23, 2020. Watch this video before trading these currency pairs!


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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, EURAUD, XAUUSD (October 19 – 23, 2020)

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EURUSD Forecast

The EURUSD hasn’t moved much in recent days.

The lack of momentum and key levels has kept me away from the pair lately.

However, I continue to like the idea of a final push into the 1.1450 region before the next leg higher can materialize.

Continue reading…

GBPUSD Forecast

The GBPUSD has become unfavorable as well following the close back below the 1.3000 region.

It looked like buyers wanted to take prices higher following the close above that area, but it wasn’t meant to be.

USDJPY Forecast

I wrote about this USDJPY structure on October 9th.

The lower highs since February hint at continued weakness, perhaps back toward 104.20.

But despite breaking below a short term trend line on October 12th, USDJPY has yet to produce much.

Continue reading…

EURAUD Forecast

The EURAUD, along with many other markets, has been sideways for months.

My guess is that markets as a whole will continue to be indecisive until after the US elections in November.

XAUUSD Forecast

It looked like gold (XAUUSD) wanted to break out recently, but buyers couldn’t hold prices above the 1910 region.

It now looks like we have a smaller structure in play where the upper level extends from the August 18th high.

Continue reading…

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