Weekly Forex Forecast for EURUSD, GBPUSD, GBPNZD, EURAUD (28-03 December 2021)
Hey everyone! Welcome to this week's forex forecast for the week ending December 3rd, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at EURUSD, GBPUSD, GBPNZD & EURAUD.
Price has fallen below the key horizontal level 1.14 which was seen as clear resistance many times in the past, and it looks like price may be going to retest this same level to either confirm as clear resistance or potentially make its way above this level again. Look out for price action confirmations as to how price reacts to this level before potentially going short.
Price has made the next touch of the channel's bottom in this descending channel, and we could potentially see the trend continue and price head towards the channel's top. Look out for how price reacts to the key horizontal 1.342 level, as a break above suggests this whereas if price fails to break above, it's like we could see further downside movement to continue.
I've been pointing out that price did hit the bullish OB a couple of weeks ago, and it looks like price is now approaching the first TP just above 1.96 as it's potentially going to go inside this bullish breaker block. If price enters this zone and we see rejections, it's likely price will continue consolidating whereas a clear break outside of this zone higher suggests further bullish moves to continue.
Price broke out of this ascending triangle pattern pretty early and has already gone to the short-term key horizontal level 1.59 where it was seen as clear support previously. If price begins to reject this level, it's likely we will see price head back inside the pattern, but a break above suggests further bullish moves to follow, potentially towards 1.62 the next resistance.
Oil prices have surged this year and have recently pulled back from the highs. However, there are some factors right now that will heavily influence the price of commodities in the long term. And it's important that we go over them so when the time comes, we'll have a better understanding of how to trade […]
As this week comes to a close, we are looking ahead at future setups that could be some of the best opportunities for the next several trading sessions. Here are some pairs for next week that we are looking at. EUR/JPY Recent data has shown a slow down in the German manufacturing sector. With European […]
When it comes to testimonies, it's all in how you say it. Jerome Powell has to be very particular in the way he makes his statements and answers the ensuing questions. Here is what might be in store for the market in the coming days and weeks, and whether or not there will be more […]
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