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Hey guys, welcome to this weekly forex forecast and analysis! Today we are going to see what the EUR/USD, GBP/USD And (XAU/USD) are going to offer us in terms of trading opportunities!
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Starting off with the EUR/USD in this weekly forex forecast, we are seeing in the long term bears are in control pushing price lower in the major C to D move in the current A-B-C-D pattern. But, now in the short term we see bulls taking control of price in the short term, which will give us a possibility to go long on a major retracement into the next major support zone, and at the same time go short on to the next major area of resistance!
The GBP/USD is coming off a major zone of support, where bulls are accumulating orders aggressively to see now a major breakout to the upper side, where I would be looking to go long on a retest, with a daily candlestick pattern. To get a good entry, I would be looking to go long with a daily candlestick pattern in the context of the current A-B-C-D pattern!
On this weekly forex forecast I also talk about Gold (XAU/USD), where bulls are in control, and following this bull market from the long term, we now are breaking through the major area of resistance, now support! I would absolutely be looking for a new established higher-high, and look to get long on a major retracement, possibly to the next 38.2% retracement level in the daily chart with a bearish candlestick pattern.
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