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Category Archives for Free Forex Trade Setups

VETUSD Bottom in Place?

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I’ve been talking about VETUSD since June 26th.

VET, the native token of the VeChainThor blockchain, is a cryptocurrency with tremendous potential as cryptos enter a new cyclical bull market.

We saw some of that potential unfold between May and July when VET rallied 440%.

However, since reaching a local high of $0.0229 on August 9th, VETUSD has pulled back.

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XAGUSD: Expect Another Explosive Rally Above $26

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On October 13th, I wrote about a descending channel on silver (XAGUSD).

Due to the recent uptrend that began following the March selloff, this channel looks to be a bull flag.

In other words, a close above resistance could trigger a trend continuation.

The idea of a higher XAGUSD price is also inline with what’s happening on the monthly time frame.

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(Video) Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, GBPNZD, VETUSD (November 16 – 20, 2020)

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EURUSD continues to churn within a sideways range.

Key support comes in at 1.1615 with resistance coming in near 1.1970.

There isn’t much to do here until the EURUSD breaks free from this range.

If buyers can take out 1.1970 on a daily closing basis, it would open up the next key resistance near 1.2150.

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NZDUSD to Remain Bullish Above 0.6800

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NZDUSD is on its way to my 2021 target of 0.7500.

That may sound outlandish, but nobody was expecting the pair to be up 1,300 pips following the March selloff, either.

The false break below a multi-year trend line earlier this year and subsequent bullish breakout says it all.

Notice how NZDUSD is holding well above the 2014 trend line.

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GBPNZD Multi-Year Uptrend at Risk Below 1.9050

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I wrote about the potential for GBPNZD to trend lower on October 26th.

We were watching how the pair reacted to the bottom of a long-standing ascending channel.

One thing I mentioned is that GBPNZD needs to close below support to open up downside targets.

That never happened.

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