Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, USDCHF, and CADJPY the week of November 1, 2019. Watch this video before trading these currency pairs! RESOURCES & LINKS:
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Weekly Forex Forecast for October 28 – November 1, 2019
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EURUSD Forecast
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The EURUSD is starting the new week in a tight range.
Buyers need to close the pair back above 1.1100/10 in order to expose 1.1200, while sellers need a close below 1.1070 to push prices lower.
I will be keeping an eye on both 1.1020/30 and 1.0990 support as bullish price action from either area could trigger another leg higher.
GBPUSD Forecast
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GBPUSD spent last week consolidating.
If the pair can catch a bid at 1.2770 support this week, we could see a turn higher back toward 1.2980/90 resistance.
Alternatively, a close below 1.2770 would re-expose 1.2570.
USDJPY Forecast
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USDJPY has a decision to make this week.
Buyers need to secure a daily close above 109.00 to keep the rally alive and also expose the next key resistance at 1.1060.
Alternatively, a move below 108.20/30 would signal weakness, in my opinion.
USDCHF Forecast
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USDCHF is just one for my watch list for now.
Any bearish price action from 0.9930/50 could signal a turn lower toward 0.9840 support.
Alternatively, a close above 0.9950 could expose the confluence of resistance at parity.
As of now, though, I’m just watching and waiting.
CADJPY Forecast
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CADJPY has performed beautifully since breaking out earlier this month.
Both the 81.80 and 82.50 support levels have attracted buyers and pushed the pair higher.
However, we’re still waiting for a close above 83.20 to expose 84.20.
Until that occurs, the CADJPY is a bit vulnerable, which could mean a return to 82.50.
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