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

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

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EURUSD Forecast
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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
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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
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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
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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
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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.

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#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.

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Comments

Justin Bennett says:

IMPORTANT! Get access to the same New York close Forex charts I use by going here: http://bit.ly/2UzPyiR so that each 24-hour session opens and closes at 5 pm EST. These charts are essential for trading price action as they provide five equal 24-hour session each week. Download Justin's preferred trading platform here: http://bit.ly/2UzPyiR

Denise Atkinson says:

another very helpful video – thank you, Justin

Ja T says:

on my4 my trendlines go on forever off the screen instead of being a certain length. Anyone know how to change that?

Markus Kelvin says:

Top notch content, unlike those instagram scammers like Astrofx who show off luxury life instead of focusing on TA and risk management!

Zeeshan Ali says:

Nice job sir…thank u

Asit Halder says:

Nice statement…..

Raymond Vizard says:

Thanks for explaining the breakout of descending & ascending in to bull,bear traps, it’s tips like that,that make your vids a MUST WATCH cheers Justin

nkem oghor says:

Thanks Justin

david madle says:

thanks Justin very helpful

taimoor ali says:

Greatest video sir i like it best broker forex sir pls?

Chris Meyers says:

great video

The ShockerZzZ says:

Hello sir, i want to learn form you how you draw support and resistance. If you have any video, please provide

Satish Kumar says:

Hi sir, excellent analysis…we are following your forecasts…thank you sir, if possible can you please provide signals at live trades…thanks in advance….do you have any WhatsApp group or telegram group..please let me know

tebogo thekisho says:

Great stuff

noob gg says:

thumps up :)))

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