30 Nov Weekly Forex Forecast – Forex Technical Analysis And More Nov 30- Dec 4 2020
Weekly Forex Forecast
EURUSD Price is facing bullish pressure from our ascending trend line and a test of our support could see a bounce from here Weekly Forex Forecast
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GBPUSD The price failed to break and close above the 1.3398 level. Our expectation is a potential reversal by breaking the blue trend line and then higher correction towards the highlighted white zone, and from this level a move to the 1.3148 mark.
NZDUSD price has been developing in a diagonal structure since 13th Nov low and we are expecting price to make a deep pull back from here.From a higher time-frame perspective, price is current near the top of an expanding diagonal structure too, providing us a huge room to the downside.
AUDUSD Price trading at the major demand area which align with 0.74 major level, look at the smaller time frame we can see a potential head and shoulder forming just below the same level, look for rejections below 0.74 for a short opportunity.
GOLD Recent break on the 38.2% will lead the gold price to test the next level of 50.0%. A strong support of the Daily 200EMA is also in play here. A good area for buyers to hop in would be around $1750-$1755.
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