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The EURUSD traded mostly sideways last week near the 1.2000 area.
Despite being mostly directionless last week, the euro did close above the 1.1950 level.
I’ve discussed 1.1950 in recent weeks as a critical weekly pivot.
As long as the EURUSD holds above 1.1950 on a daily closing basis, there’s a decent chance we see it climb higher, perhaps toward 1.2190.Continue Reading
The USDJPY is testing a confluence of support at 108.00 today.
I mentioned this area in the last weekly forecast video.
It’s the intersection of a trend line support from the 2021 low and the 2015 weekly trend line.
The USDJPY has shown a slight bounce so far from today’s low of 107.80.Continue Reading
On March 18th, I mentioned a potential head and shoulders pattern on AUDUSD.
A few days later, the pair closed below the neckline at 0.7650.
However, on April 14th, the Australian dollar closed back above the neckline.
Or did it?Continue Reading
Two weekends ago, I pointed out a descending channel on GBPUSD.
I mentioned on Sunday that it looked like the pair broke resistance last week, but I was waiting for something more convincing.
Today’s 170 pip rally is certainly that.
The challenge now is that the GBPUSD is testing a key resistance level at 1.4000.Continue Reading
The EURUSD closed last week above the 1.1950 area I’ve mentioned a few times recently.
However, as I describe in today’s video, there is more resistance just above Friday’s high, near 1.2000.
Buyers have to clear that area to expose 1.2030 and perhaps 1.2180.
Alternatively, bearish price action from the 1.2000 region followed by a daily close below 1.1920 could send the EURUSD lower.Continue Reading