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Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (December 17 – 21, 2018)

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EURUSD wedge pattern on the daily chart

EURUSD finally showed its hand on Friday. I wrote about the wedge pattern you see below on Wednesday of last week. At the time, the euro had just bounced from support near 1.1320. However, we were still waiting for a breakout. That move came just before the weekend. I’ll be the first to admit that […]

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Weekly Forex Forecast (December 10 – 14, 2018)

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EURUSD potential bullish reversal pattern

This week promises to be a big one for EURUSD. Not only is there a significant Brexit vote on Tuesday, but we also have an ECB rate decision and presser on Thursday. Although the Brexit vote will mainly target the pound, the euro won’t escape the volatility. As always, the fundamental outcome doesn’t matter to […]

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Weekly Forex Forecast (December 3 – 7, 2018)

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EURUSD key levels on the daily chart

We’ve now witnessed two false breaks from EURUSD in the last couple of weeks. The first was the daily close above 1.1430 on November 19th. Buyers surrendered those gains the very next day. The result was a bearish engulfing pattern. Last Tuesday’s close below 1.1300 was the second false break. It was almost the inverse […]

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Weekly Forex Forecast (November 26 – 30, 2018)

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EURUSD support and resistance levels

I flipped from relatively bearish the EURUSD to bullish in mid-November. The aggressiveness of the bounce at 1.1215 followed by the daily close back above 1.1300 caused me to question my bearish outlook. In fact, I even went long on November 16th at 1.1335. That came to an abrupt end on the 20th. Instead of […]

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Weekly Forex Forecast (November 19 – 23, 2018)

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EURUSD support and resistance levels

I’ve gone from being quite bearish EURUSD to relatively bullish, all in the span of a week. I went into last week short the euro. The bearish rejection at 1.1430 resistance was enough for me to open a small short position. My target was 1.1130. However, the aggressive bounce on the 13th signaled there was […]

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