Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, NZDUSD, and XAUUSD through June 5, 2020. Watch this video before trading these currency pairs!
RESOURCES & LINKS:
Become a YouTube channel member and receive 5-10 analysis videos each week!
Subscribe to Justin’s Channel Today:
Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD, XAUUSD (June 1 – 5, 2020)
Need help with your trading? Join DPA today!
Download Justin’s Forex Charting Platform:
The EURUSD rallied above the 1.1100 area on Friday.
However, last week’s close was less than convincing for euro bulls.
I shorted the pair on Friday at 1.1138, an entry which I announced in the membership forums when EURUSD was still trading at 1.1130.
GBPUSD continues to be an undesirable pair to trade, at least for me.
The selloff from 1.2350 on May 12th, which we discussed in the member’s area, was the last quality opportunity.
I love the look of the USDJPY monthly chart.
Anyone who has followed me for the last few weeks knows this.
Another appealing multi-year wedge is that of the NZDUSD pattern that extends from the 2000 lows.
The pair’s all-time support level broke down during the March selloff.
I was talking to members about XAUUSD (gold) in the forums last week when it was retesting the bottom of this wedge at 1693.
The idea was to keep a close eye on how the market reacted to that level, and if it could recover back above the wedge top at 1705.
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.