Will the USD bounce or die? See how I'm trading the DXY, EURUSD, GBPUSD, and XAUUSD in this forex forecast.
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Is the US dollar done or just starting a bounce? In this weekly forex forecast I cover DXY, EURUSD, GBPUSD, and gold with the key levels I’m watching for next week.
If you’re new here, I’m Justin Bennett, founder of Daily Price Action. I’ve traded forex for 17 years and I post videos like this every weekday. Be sure to subscribe if you want more.
Here’s what I’m watching:
DXY: 97.70, 97.50, 98.10, 98.50, 97.27, 96.80
EURUSD: 1.1730, 1.1780, 1.1645
GBPUSD: 1.3380, 1.3580
Gold: 3860 area
If/then setups:
If DXY holds above 97.70 it could test 98.10 and 98.50. If it breaks 97.70 I’ll look for 97.27 and 96.80.
If EURUSD holds 1.1730 we could see 1.1780. If it loses that level we look to 1.1645.
If GBPUSD holds the reclaim I like a push into 1.3580. Lose it and we’re back in the range.
Gold is still buy on pullbacks while the channel holds. 3860 is support I’ll watch.
Bottom line: trade what’s on the chart. It’s a sideways market right now so respect the ranges.
Chapters:
0:00 Intro
0:45 DXY big picture
2:10 DXY daily levels
6:15 DXY plan for next week
7:40 EURUSD weekly and daily
11:00 GBPUSD failed breakdown
13:20 Gold channel and support
15:00 Wrap up
Like the new chart colors? Green or blue? Let me know in the comments.
Nothing here is financial advice. Manage risk and I’ll see you in the next one.
None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
#dxy #eurusd #gbpusd #xauusd
► JOIN VIP: Get lifetime access to real-time coaching in the trading group
+ get Justin’s 28-video fakeout course: https://access.dailypriceaction.com/vip-access
► Unlock a 30% bonus with my preferred forex broker: https://www.blueberrymarkets.net/lp/daily-price-action-2024 (deposit $5,000 or more for lifetime access to my VIP trading group)
► JOIN XM BROKER: Sign up and deposit $5k or more for lifetime access to VIP: https://affs.click/cLXTp
► Trade crypto with me on BloFin (no KYC): https://partner.blofin.com/d/DPA and get up to $5k in bonuses! (deposit $5,000 or more for lifetime access to my VIP trading group)
► Get up to $30k in bonuses with Bybit: https://partner.bybit.com/b/Daily_Price_Action (deposit $5,000 or more for lifetime access to my VIP trading group)
Is the US dollar done or just starting a bounce? In this weekly forex forecast I cover DXY, EURUSD, GBPUSD, and gold with the key levels I’m watching for next week.
If you’re new here, I’m Justin Bennett, founder of Daily Price Action. I’ve traded forex for 17 years and I post videos like this every weekday. Be sure to subscribe if you want more.
Here’s what I’m watching:
DXY: 97.70, 97.50, 98.10, 98.50, 97.27, 96.80
EURUSD: 1.1730, 1.1780, 1.1645
GBPUSD: 1.3380, 1.3580
Gold: 3860 area
If/then setups:
If DXY holds above 97.70 it could test 98.10 and 98.50. If it breaks 97.70 I’ll look for 97.27 and 96.80.
If EURUSD holds 1.1730 we could see 1.1780. If it loses that level we look to 1.1645.
If GBPUSD holds the reclaim I like a push into 1.3580. Lose it and we’re back in the range.
Gold is still buy on pullbacks while the channel holds. 3860 is support I’ll watch.
Bottom line: trade what’s on the chart. It’s a sideways market right now so respect the ranges.
Chapters:
0:00 Intro
0:45 DXY big picture
2:10 DXY daily levels
6:15 DXY plan for next week
7:40 EURUSD weekly and daily
11:00 GBPUSD failed breakdown
13:20 Gold channel and support
15:00 Wrap up
Like the new chart colors? Green or blue? Let me know in the comments.
Nothing here is financial advice. Manage risk and I’ll see you in the next one.
None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
#dxy #eurusd #gbpusd #xauusd
- Category
- Trading Online & Forex Online
- Tags
- forex, forex trading, forex trading for beginners
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