Weekly forex forecast: XAU/USD getting ready to explode [Video]

John Fortune Get Me Trading

This week sees the GBP outperforming and scoring as the best long play in the scorecards. Our second favourite long this week is the CAD, which is benefiting from the recent rally in Crude Oil prices. Whilst the CAD and CHF both score the same, we would preference CAD over CHF since the CHF has weakened from 3 to 2 on the scorecards increasing the risk of further weakness this week.

To the short side both the NZD and JPY score as the best shorts alongside the EUR.

With this said, GbpNzd, GbpJpy and CadJpy long, as well as NzdCad short, score as the best pairs and set ups this week.

We have given an extended analysis of XauUsd in this weeks video since all indications are that XauUsd is at a crucial point, with the correction since August 2020 looking like it is finally set to end. If this is the case, big moves will be coming in XauUsd over the next few weeks.

Author

John Fortune

Get Me Trading

John Fortune is a professional trader and Head Analyst at Get Me Trading. John has over a decade worth of experience in the Financial Markets and produces a Weekly Forex Forecast covering over 30 markets each weekend.

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