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Weekly Forex Forecast for June 29 – July 3, 2020
The EURUSD gave up the 1.1230 support level last week after breaking above it on June 22nd. However, buyers managed to hold the euro above the falling wedge resistance I mentioned in last week’s forecast. That area comes in near 1.1200. The choppiness here is representative of the FX market as a whole. June has presented very few favorable opportunities, in my opinion. That said, the biggest moves usually follow long periods of consolidation and indecision. A view of the EURUSD monthly time frame or even the USDJPY chart below confirms that notion. As for where EURUSD goes this week, all I can say is that support ... (full story)