by Justin Bennett ·
by Justin Bennett  · 

February 2, 2023

February 2, 2023

GBPUSD tested the September 26th trend line today, a significant moment for the short-term uptrend.

I’ve discussed this trend line several times in recent posts, including the most recent weekly forecast video.

There was some confusion as to why I drew the level from the September 26th daily close and not the wick.

4  Comments

by Justin Bennett ·
by Justin Bennett  · 

February 1, 2023

February 1, 2023

EURUSD is rallying ahead of today’s Fed rate decision, statement, and press conference.

Monday’s session dipped below the key 1.0850 support area I’ve discussed recently and formed a bullish rejection candle.

So it’s no surprise that today’s rally began from 1.0852 support.

5  Comments

by Justin Bennett ·
by Justin Bennett  · 

January 30, 2023

January 30, 2023

USDCAD is testing a significant support level ahead of Wednesday’s federal funds rate and press conference.

We know that the Federal Open Market Committee (FOMC) rate decision and subsequent press conference trigger volatility for currencies.

So USDCAD testing its July 2021 trend line feels significant ahead of such a market-moving event.

1  Comments

by Justin Bennett ·
by Justin Bennett  · 

January 28, 2023

January 28, 2023

Today’s weekly Forex forecast covers the EURUSD, GBPUSD, USDJPY, AUDUSD, and XAUUSD (gold).

Markets have some key decisions to make this week, including a terminal pattern on USDJPY and a potentially significant AUDUSD monthly close.

Watch the video and scroll down to view the charts to prepare for next week.

5  Comments

by Justin Bennett ·
by Justin Bennett  · 

January 26, 2023

January 26, 2023

The S&P 500 broke above its all-time high trend line this week at the 4,000 level.

It’s a level I’ve discussed for months that opens up higher levels, not just for the index but for risk assets.

We’ve seen SPX500 hold above resistance turned support at 4,000 for three days.

3  Comments

by Justin Bennett ·
by Justin Bennett  · 

January 25, 2023

January 25, 2023

Traders often overlook CADJPY, as those who want Japanese yen exposure usually opt for USDJPY.

The same goes for Canadian dollar exposure, where USDCAD is the preferred choice.

But every once in a while, CADJPY offers technicals others can’t match, and this is one such time.

5  Comments

by Justin Bennett ·
by Justin Bennett  · 

January 24, 2023

January 24, 2023

EURUSD is attempting to breakout above 1.0870, which has capped every advance since January 12th.

If you’ve seen the recent weekly Forex forecasts, you know that 1.0870 is the December 2016 trend line that shows incredibly well on the weekly chart.

The EURUSD has also respected the weekly level above on the daily time frame.

3  Comments