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Category Archives for Free Forex Trade Setups

EURJPY: Keep an Eye on This Pattern

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The EURJPY is on the verge of breaking higher.

The pair has been sideways for most of the year, but that may be about to change.

But before we get to that pending breakout, I want to draw your attention to what’s happening on the weekly time frame.

Notice how the EURJPY has been in an uptrend since May.

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(Video) Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, GBPNZD, XAUUSD (November 30 – December 4, 2020)

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The EURUSD is close to breaking out of a four-month range.

The area between 1.1615 support and 1.1970 resistance has been a key factor since September.

However, I’ve favored the euro higher for months.

The uptrend is intact, and the pair is holding above the 1.1450 area on the monthly chart. See the video above for the details.

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EURUSD on the Verge of a 550 Pip Rally

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The EURUSD is testing a key resistance area at 1.1800.

I mentioned this area in last weekend’s forecast video.

As you can see, the 1.1800 area involves a trend line from the recent consolidation lows.

It’s the area buyers need to break to reestablish the bullish momentum.

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XAUUSD Buyers Have Work to Do

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Gold (XAUUSD) hasn’t performed well of late.

And that’s an understatement.

Since carving a 2020 high at 2075, gold has declined over 12%.

While I still think XAUUSD will rally in 2021, it isn’t likely to do nearly as well as Bitcoin.

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GBPUSD on the Verge of a Massive Breakout

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I wrote about the potential for a bullish GBPUSD breakout on November 20th.

The falling wedge that has developed over the last twenty years hints at a possible turn higher in 2021.

However, as I mentioned last week and again over the weekend, GBPUSD needs to secure a close above the 1.3340 area.

As of now, that’s a key resistance level.

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