Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD (March 7 – 11, 2022)

See how Justin Bennett, founder of Daily Price Action is trading the EURUSD, GBPUSD, USDJPY, AUDUSD, and XAUUSD (gold) through March 11, 2022.

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IN THIS VIDEO:

0:29 EURUSD
4:16 GBPUSD
6:38 USDJPY
9:58 AUDUSD
12:28 XAUUSD

EURUSD Forecast
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EURUSD had a relatively ugly close last week, for lack of a better word.

The euro broke back below the descending trend line from the 2008 high and is currently resting on channel support from 2000.

Read more: https://bit.ly/376R08D

GBPUSD Forecast
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I wrote about GBPUSD last week on the 4th. In that post, I commented on the macro (big picture) channel that has directed the price action for the last few years.

However, the more immediate opportunity from the pound will likely stem from the descending channel on the daily time frame.

USDJPY Forecast
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The USDJPY has been in an uptrend for the last 14 months. However, the market recently failed to get above the 116 region and could be in trouble this week based on Friday’s close.

As mentioned in today’s video, the pair appears to have closed last week below the September trend line. That resistance level comes in around 115.

Read more: https://bit.ly/376R08D

AUDUSD Forecast
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AUDUSD appears to have broken out on Friday. The close above the 0.73 area should flip that to support in the coming week.

I like the Australian dollar higher as long as that 0.73 region holds on a daily closing basis.

XAUUSD Forecast
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XAUUSD (gold) stole the spotlight last week with an aggressive rally out of a symmetrical triangle that broke on Thursday.

The breakout occurred just a few hours after I wrote about the bullish potential from XAUUSD.

Read more: https://bit.ly/376R08D

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#EURUSD #GBPUSD #USDJPY #AUDUSD #XAUUSD #GOLD

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