Trading Support And Resistance - Sunday, June 28

This week we’ll begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 16 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let’s look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

Currency price changes

Monthly Forecast June 2020

For the month of June, we forecast that the best trade would be long EUR/USD. The performance so far has been positive, as shown in the table below:

June 2020 Performance

Weekly Forecast June 28

Last week, we make no forecast as there were no strong counter-trend movements sharply against any dominant trends over the past week.

This week, we again make no forecast.

The Forex market showed a further decrease in volatility compared to the previous week, with only 15% of the important currency pairs and crosses moving by more than 1% in value last week. Volatility is likely to increase over the coming week.

Last week was dominated by relative strength in the Australian Dollar, and relative weakness in the Japanese Yen, although the numbers were so low as to be almost meaningless.

You can trade our forecasts in a real or demo Forex brokerage account.

Previous Monthly Forecasts

You can view the results of our previous monthly forecasts here.

Key Support/Resistance Levels for Popular Pairs

We teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that can be watched on the more popular currency pairs this week.

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