Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, NZDUSD, AUDCAD, and XAUUSD through December 6, 2019. Watch this video before trading these currency pairs! RESOURCES & LINKS:
_____________________________________________
Subscribe to Justin’s Channel Today:
Weekly Forex Forecast for December 2 – 6, 2019
Need help with your trading? Join DPA today!
Download Justin’s Forex Charting Platform:
_____________________________________________
EURUSD Forecast
_____________________________
I’ve been discussing the 1.0990 region on the EURUSD for weeks now.
It’s a confluence of support based on the intersection of a key horizontal level and ascending channel support.
We saw the EURUSD dip below 1.0990 on Friday, but buyers stepped in just before the weekend.
That keeps the 1.0990 region intact as support for now.
GBPUSD Forecast
_____________________________
The GBPUSD hasn’t done much lately.
Since closing above 1.2770 on October 16, the pair has consolidated between that level and 1.2980.
The lack of direction has made the GBPUSD rather unappealing.
NZDUSD Forecast
_____________________________
We’ve been waiting for the NZDUSD to break out for a while now.
Buyers tried again last week but ultimately failed to close the pair above key resistance at 0.6430/40.
Until we see NZDUSD close the day above 0.6430/40, the area will continue to attract sellers.
AUDCAD Forecast
_____________________________
I discussed AUDCAD in last week’s Forex forecast.
The idea was to watch for either a close above wedge resistance or below wedge support.
You can see how AUDCAD closed below that support level last Thursday.
XAUUSD Forecast
_____________________________
Like many other markets, XAUUSD (gold) hasn’t done much lately.
However, no consolidation lasts forever, and that’s exactly what we’ve seen here since August.
I also like the way XAUUSD has held its ground relatively well, especially considering how aggressive the rally was between June and August.
Subscribe: to learn more Forex tips and strategies.
Get free Forex setups:
Read more on my blog:
#EURUSD #GBPUSD #NZDUSD #AUDCAD #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.
0 Comments