Ethereum – (Video) Weekly Foreign exchange Forecast for EURUSD, GBPUSD, NZDUSD, ETHUSD, VETUSD (November 23 – 27, 2020)
On this weekly Foreign exchange forecast, I’m going to indicate you precisely how I’m buying and selling EURUSD, GBPUSD, NZDUSD, ETHUSD, and VETUSD via November 27, 2020.
Watch the video beneath, and you should definitely scroll right down to see the charts and key ranges for the week forward.
EURUSD Technicals
Not a lot has modified for the EURUSD since final week’s forecast.
The pair continues to consolidate in a sideways vary between 1.1615 help and 1.1970 resistance.
Till the pair breaks this vary, there isn’t a lot to do right here.
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That mentioned, I proceed to favor an eventual break greater given the uptrend on the day by day and what’s occurring on the month-to-month chart.
See the video above for all the particulars.
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GBPUSD Technicals
GBPUSD may very well be on the verge of a large bull run.
I wrote concerning the twenty-year falling wedge on October 29th.
The construction above hints at a bullish reversal for the pound.
That isn’t stunning given what we’ve seen from different main foreign money pairs in current months.
Nonetheless, GBPUSD consumers nonetheless have work to do.
The pair must safe a weekly shut above wedge resistance close to 1.3340.
I’d additionally prefer to see GBPUSD consumers take out the current highs at 1.3480.
These are the 2 key resistance ranges that want to interrupt to ship GBPUSD greater in 2021.
A weekly shut above 1.3340 adopted by 1.3480 would open the door to the 2018 highs at 1.4350.
I’ll proceed to love the concept of an imminent break greater so long as the May pattern line help is undamaged.
NZDUSD Technicals
I wrote concerning the potential for NZDUSD to maneuver above 0.6800 on October 27th.
I preferred the concept of a transfer greater due to the uptrend on the day by day chart and what was occurring on the month-to-month time-frame.
For now, 0.6940 stays resistance, with a day by day shut above that opening the door to 0.7160.
The 0.6800 stays key help.
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ETHUSD Technicals
I first wrote about Ethereum (ETHUSD) on June 4th.
On the time, the cryptocurrency was buying and selling at $243.
Since then, Ethereum has gained 123%, and is at present buying and selling at $541.
However the crypto market is nowhere close to the euphoric part we noticed on the finish of 2017.
That’s why I feel cryptos like Ethereum are simply getting began, and that $800 will solely be a brief hurdle.
Disclosure: I maintain a protracted place in Ethereum.
VETUSD Technicals
VeChain (VETUSD) is one other crypto that I’ve been holding since earlier within the yr.
I used to be initially shopping for in the course of the June consolidation close to 0.008.
I’ve added to that place each week since 0.023.
As we speak’s breakout represents the primary greater excessive since August and a major turning level for the pair.
As I discussed final weekend, a weekly shut above 0.0125 would verify the breakout and open the door to 0.0152.
That mentioned, my private opinion is that cryptos like Bitcoin, Ethereum, VeChain, and others, are going a lot greater over the following yr or so.
Disclosure: I maintain a protracted place in VeChain.
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