Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (November 18 – 22, 2019)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD (gold) through November 22, 2019. Watch this video before trading these currency pairs!

RESOURCES & LINKS:
_____________________________________________

Subscribe to Justin’s Channel Today:
http://bit.ly/2lTRJCh

Weekly Forex Forecast for November 18 – 22, 2019
https://dailypriceaction.com/setups/forex-forecast-november-18-22-2019/

Need help with your trading? Join DPA today!
https://swingtrading.dailypriceaction.com/lifetime-membership

Download Justin’s Forex Charting Platform:
https://www.blueberrymarkets.com/lp/dailypriceaction
_____________________________________________

EURUSD Forecast
_____________________________

EURUSD bounced right where we thought it might last week.

We have been keeping an eye on the 1.0990 – 1.1020 support area for the last two weeks.

Sure enough, the EURUSD hit a low of 1.0989 on Thursday before bouncing higher by 68 pips.

Buyers face a key test this week at 1.1070 with a close above that taking on 1.1170/80.

Alternatively, a close below 1.1020 would be a sign of weakness.

GBPUSD Forecast
_____________________________

GBPUSD continued its consolidation last week.

I still maintain the idea that it’s going to take a close above 1.2980 to expose 1.3170.

Alternatively, a daily close below 1.2770 would expose 1.2570.

USDJPY Forecast
_____________________________

The USDJPY confirmed the rising wedge pattern on Thursday.

However, the immediate retest on Friday does leave me wondering if last week’s breakdown was a false move.

It’s going to take some immediate selling pressure this week to follow-through on Thursday’s close.

Alternatively, a close above 108.96 would be a sign of strength.

NZDUSD Forecast
_____________________________

NZDUSD buyers aren’t backing down just yet.

The pair caught a bid last week from the 0.6320 area, but buyers still need to secure a daily close above 0.6430 to confirm the inverse head and shoulders.

Such a close would expose 0.6490 while a close below 0.6320 would delay the idea.

XAUUSD Forecast
_____________________________

The XAUUSD (gold) consolidation we’ve seen since August could lead to a break higher.

But buyers have to take out wedge resistance near 1500 to do that.

Such a break would expose 1550 while a close below 1450 would delay that outlook.

Subscribe: http://bit.ly/2lTRJCh to learn more Forex tips and strategies.
Get free Forex setups: https://dailypriceaction.com/setups
Read more on my blog: https://dailypriceaction.com/blog

#EURUSD #GBPUSD #USDJPY #NZDUSD #XAUUSD #Forex

Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Daily Price Action, its employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd’s, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Comments

Comments are disabled for this post.