Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, AUDUSD, and XAUUSD through May 8, 2020. Watch this video before trading these currency pairs!
RESOURCES & LINKS:
_____________________________________________
Become a YouTube channel member and receive 5-10 analysis videos each week!
http://bit.ly/2PKnKJD
Subscribe to Justin’s Channel Today:
http://bit.ly/2lTRJCh
Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD (May 4 – 8, 2020)
https://dailypriceaction.com/setups/forex-forecast-may-4-8-2020/
Need help with your trading? Join DPA today!
https://swingtrading.dailypriceaction.com/lifetime-membership
Download Justin’s Forex Charting Platform:
https://www.blueberrymarkets.com/lp/dailypriceaction
_____________________________________________
EURUSD Forecast
_____________________________
The EURUSD gained ground last week after breaking above the 1.0890 level.
It all started with the April 24th bounce from a multi-decade trend line that extends from the euro’s all-time lows.
Continue reading…
https://dailypriceaction.com/setups/forex-forecast-may-4-8-2020/
GBPUSD Forecast
_____________________________
Like EURUSD, the GBPUSD didn’t show us much last week.
The most significant development was probably the retest of the mid-April high.
That negates the idea that this is a head and shoulders reversal.
USDJPY Forecast
_____________________________
The coiling continues for the USDJPY.
I’ve discussed this multi-year edge for weeks.
It’s most likely going to take a monthly close above resistance or below support to confirm the breakout.
Continue reading…
https://dailypriceaction.com/setups/forex-forecast-may-4-8-2020/
AUDUSD Forecast
_____________________________
The AUDUSD carved a sell signal last week.
Friday’s close below 0.6450 was significant in that it negated the April 27th close above it.
It also finished off a bearish pin bar on the weekly time frame.
XAUUSD Forecast
_____________________________
Last week, I wrote about how XAUUSD (gold) had broken back above 1690 on a weekly closing basis.
Thursday’s session closed back below it, but gold wasn’t a sell, at least not for me.
The uptrend is intact, which means buying on dips and breakouts on the way up is still favorable.
Continue reading…
https://dailypriceaction.com/setups/forex-forecast-may-4-8-2020/
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 #AUDUSD #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.
Comments
Comments are disabled for this post.