Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, GBPNZD, XAUUSD, and ETHUSD through June 26, 2020. Watch this video before trading these currency pairs!
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Weekly Forex Forecast for EURUSD, GBPUSD, GBPNZD, XAUUSD, ETHUSD (June 22 – 26, 2020)
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EURUSD lost its bullish momentum last week.
Thursday’s close below 1.1230 signaled weakness, as I pointed out on the 18th.
We saw EURUSD test 1.1230 as new resistance on Friday and even lose additional ground before the weekend.
The GBPUSD continued its sideways movement last week with a break back below former channel support near 1.2460.
If you watched last week’s forecast, you know that I was anticipating a sub 1.2500 move.
The selloff on the 11th and 12th of June was too aggressive to think otherwise.
I wrote about GBPNZD on Friday.
The pair had a nice run following the breakdown from a smaller ascending channel back in May.
I wrote about this trade idea on March 18th.
XAUUSD continues to coil below $1,750.
I’ve written about this range for gold between $1,680 and $1,750 for weeks.
I still maintain the idea that XAUUSD is headed much higher over the next five to six years, as I wrote on June 16th.
I wrote about Ethereum (ETHUSD) for the first time on June 4th.
It’s a play in the digital asset space that I’ve been accumulating since April.
The technical details and fundamental story of Ethereum are better suited for a dedicated blog post, but I encourage you to pursue this space.
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#EURUSD #GBPUSD #GBPNZD #XAUUSD #ETHUSD #Forex
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