what's going on traders welcome to this week's forex forecast if you're new to my
channel hit that subscribe button and don't forget to check out the patreon
or the youtube membership for my daily chart analysis i hope to see you there
all right first things first looking at the us dollar cot reports
the past week the banks added 1700 longs and they got rid of 1100 short positions
uh looking at this daily chart this daily area of supply that i thought would hold
to push price lower has now been broken so we are going up to this supply zone for those of you
that watch my live streams you know that i talk about that i do not like to take zones that are a
peak like that uh so i could very much see this supply zone break through with no issue at all
and until that happens i will not really be entering any trades on the daily four hour
and one hour time frame looking at the dollar if this supply zone is broken we can have a daily
uptrend and then i will start to look for longs and if that happens where i think we're going a
long term in the dollar if that does happen is up to this supply zone at about 97 so i'm just
waiting for that to happen but you never know it could even we could even react from this supply
zone like this and get that push lower and if that happens then i'll switch my bias to bearish
but for right now in the dollar i'm kind of just hanging on tight and waiting to see what happens
all right looking at the euro usd the past week the banks got rid of 3 000 long positions and
they got rid of 4 000 short positions as well on the euro uh as most of you know i was long at this
daily area of demand and i was stopped out earlier in the week but that's all good i have a risk
reward that you know allows me to have some losses sometimes obviously so i am out of this trade and
right now same thing with the dollar you know it's very sideways so i don't really know you know what
the best thing to do right now so so far trading the daily four hour and one hour is not the best
idea but if you want to trade the four hour one hour and 15 minute chart we do have a four hour
downtrend and we do have this one hour downtrend as well so you could actually be looking for
short positions right now uh on like a 15 minute chart or something like that the only problem is
we do have some uh four-hour demand down here that is tested and not the best quality but you know
we could see some sort of reaction that could blow through your 50-minute supply zone so just be very
careful of that if you do want to get in short use small risk for a lot of your day traders out there
there is this four hour supplies on here you could actually look for 15 minute confirmation in there
i think that that would be fine and i'm gonna make my alert right there so that i can be alerted
to get that alert for the um four-hour supply zone to look for a 15-minute confirmation so
and for those of you that aren't signed up yet definitely check out my patreon or
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all right on to the aussie dollar the past week the banks got rid of 19 000 longs and they got
rid of 6 400 short positions so now they are 88 short on the aussie dollar so pretty surprising
to be honest and as many of you know that watch the live stream i was long in this daily area of
demand i split my risk between the aussie and the euro both of those were stopped out so that was my
i took my manage loss there no big deal there will be plenty of other opportunities as well
so now we are headed to this daily area of demand down here very similar inverse to the dxy so be
very careful for that daily demand but right now since the daily sideways you don't really want to
be trading the daily four-hour one-hour time frame in my opinion it's the same thing as the euro
where we have a four hour downtrend and we have a one hour downtrend so you could be looking for
those 15 minute pullbacks as far as the four hour zones go this four hour zone worked very well
and i had this four hour zone for the members so definitely you know check out the patreon
membership for that reason you can get these very accurate zones that seem to work very well
you can look for day trades in these zones and everything so definitely check that out
if you're going to be looking for trending trades on the 15 minute definitely be very cautious of
all this four hour uh demand down below like i said i could see us blowing through all of it
but it doesn't mean that we're not going to see spikes through like that as we go down which
could easily spike through your 15 minute zone so definitely be uh very cautious of that as you
trade those lower time frames uh to continue trading with the trend because it's always
important to trade with the trend at all times so that's why i said you know it's not the time to be
trading the the daily four hour one hour because the daily sideways when i'm gonna start trading
the daily four hour one hour is when this zone breaks down here and we have a new daily downtrend
or for longs something like that where we'll have a daily uptrend and then i'll start to
buy pullbacks on a one hour chart so just sticking to the four hour one hour and fifteen minute chart
all right on to the british pound the past week the banks added 14 000 longs and they got rid of
14 000 shorts so not much going on on this car report and as you can see the daily is still
sideways on the pound so you know not much going on here for the daily four hour and one hour time
frame just gonna have to stick to the four hour one hour and fifteen minute just like the other
uh time frames are showing as well and we clearly have a some sort of um downtrend here on the four
hour chart and on the one hour chart so same thing with the aussie and the euro you know just this is
the time where you trade the four hour um one hour and 15 minute time frame not the daily four hour
one hour and if you don't trade that time frame then all you should be doing right now is sitting
on the sidelines remember patience pays big time so you know on this pair i will be watching the
15-minute chart for 15-minute pullbacks to the downside and the aussie and the euro had
some four-hour supply zones like right here where price is at right now but as you can see on this
four hour chart on the pound there's profit margin to the nearest four-hour zone that i have
it doesn't mean that price is gonna not react but it's it's it's more likely that
price will have a easier time getting down there so this is one of the pairs i'm very interested
in trading the four hour one hour 15 minute chart um so and if you guys want custom analysis on the
15-minute chart definitely check out the patreon there's the custom analysis chart
for that and members seem to be liking that tier as well and remember if you're liking this video
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all right usd jpy the japanese yen the past week the banks got rid of 10 000 longs and they got rid
of seven uh thousand nine hundred short positions this is one of the daily four hour one hour time
frame no trades in this ranging market so i'm gonna head right over to the uh four hour one hour
15 minute time frames here as you can see we have this four hour downtrend we are reacting off this
four hour supply zone i'm not a huge fan of these zones that line up with a trend line i don't like
to trade those usually but technically you could be looking for a 15-minute confirmation in that
four-hour zone as far as the one-hour goes the one hour is you know somewhat of a sideways market i
would call it it is not a downtrend it is sideways so the four-hour one-hour 15-minute pullbacks in a
trending market is no longer a thing because we have retraced to that four hour area of uh supply
so you could look for 15 minute confirmation right there i think that that would be fine um that's
pretty much all i see on this pair right now other than that there really isn't too much going on
uh on this pair so that's all i see stick to those lower time frames especially on this pair
all right looking at usd cad the past week the banks added 3 200 longs and they got rid of a
whopping 27 short positions if you're trading the four hour one hour 15 minute time frame you have a
clear profit margin up here to the daily supply it's a little high in the curve right now but
let's hop down to a four hour chart as you can see here we have a beautiful four hour uptrend
and one hour uptrend so you could be buying 15 minute pullbacks i actually noticed this beautiful
set forget trade i did not take this i was out golfing today so i was not available to take this
but that was a valid setup let's see what it it offered for you as far as risk to reward so far
you clearly got a two to one so far i would be holding this to at least three to one
so i would still be in this one if i was but that's a clear set and forget opportunity on a
50 minute time frame and this is exactly what i'm going to be looking for on the pound the
usd cad euro usd aussie usd and the swiss that you're going to see in a minute here so yeah i'm
definitely interested interested in trading that pair the only problem is we're about to contact
daily supply and this fresh four hour supply so the opportunity might have already happened on
that 15-minute chart but you know it doesn't mean that we're not going to see this blown through
and continue to buy pullbacks but i would not be shorting this pair right now on those time frames
um if you really want there is this four hour area of supply right here at 1.28 you could look for 15
minute confirmation in there but i wouldn't look for more than anything than a one-to-one or maybe
even a two to one if that so definitely keep an eye on that four hour supply zone as well
all right looking at usd chf the swiss prank the past week the banks added 597 longs and
they got rid of 5500 short positions this is one of the only us dollar pairs that has a
very clear and obvious daily uptrend so this is one of the pairs you could be trading the daily
four hour and one hour the only problem with that is we are coming up to this
similar zone on the dxy but it's it's in the in the usd swiss right here so we are
about to approach that weekly supply so i'd be very careful trading that time frame it's actually
much safer to be trading the four hour one hour 15 minute time frame uh other than that one
and if you look we already had a trade that worked out very nicely here i know this isn't a zone that
a lot of people would take but this is technically a trade right there lots of profit margins so if
you got that one good for you uh but for me on this pair i'm gonna stick to the four hour
one hour 15 minute chart based on that profit margin i think that that is the safest thing to do
looking at the 15 minute time frame i don't see many trades right here there was this one here
that worked very well so if you got that one very nice other than that i don't see any other
setups here maybe this one so what i'm going to be waiting for now is a push up basing and a push up
and then hopefully i can buy that pullback to the upside and on the 15 minute time frame you'll have
more profit margin than the one hour considering we're so close to this weekly area of supply so
this is a time where you want to still be sticking to the four hour one hour 15 minute time frame
all right on to gold the past week the banks added 971 longs and they got rid of 750 longs
there was this daily demand here that i said could hold we saw a lot of price action in
there but eventually the banks pushed price down we even saw this one hour area confirmation that i
kind of wanted to take but i didn't take it based on retail sentiment when price came down to here
retail was very long in this area so i stayed away from it kept me out of a loss so i'm very
happy with my decision there sometimes you know it's not always just winning and trading but it's
staying out of a loss is always very important and it should always boost your confidence it
always boosts mine there's a daily demand zone right here that we are in price could definitely
go from here to this daily supply where i will look for one hour confirmation
sell order in there it's a little risky but it's a risk that i'm willing to take
this daily demand hasn't really accomplished anything it hasn't really removed anything but it
is an original zone so that is why i have it drawn you could definitely see a reaction from there so
i'd be very careful shorting gold even though i don't really want to be going long right now i'd
be very careful shorting gold in that daily buying area if anything you know you could be trading
the four hour uh one hour fifteen minute time frames because that is still relevant right now
um but just keep in mind we are in that daily demand um that's decent but it could
it could definitely hold up price so there's not really a lot of profit margins so
on gold i would almost prefer to stay away from anything uh from it right now if anything
i'd be going short on the lower time frames not really on the daily four hour one hour just yet
all right last but not least crude oil the past week the banks added 6 000 longs and they added
155 short positions this daily demand zone i had marked out for the patreon and youtube members
worked out very well so if you got in that one good for you i was looking
for confirmation in there i never really got it the only thing i was looking for
was uh pull back to this four hour demand zone we got the pull back i was a little busy today
i wouldn't i wasn't gonna buy this as a as a send forget i was going to look for
a 15-minute confirmation in there going down to a 15-minute chart there wasn't really anything
there was this zone but i wouldn't i wouldn't have taken that it was not it's not a quality zone
uh so there was really no setup missed there but this is one of the pairs like i said you want to
be trading the four hour one hour 15 minute time frame but right now the one hour is sideways slash
downtrend almost pretty much sideways so for me to start looking for longs again
i'm gonna have to see a push to break this high which would make a new one hour uptrend
uh obviously the four hour would be up trending at that point then i will buy 15 minute pullbacks and
there's very clear profit margin to the upside here i think that oil is definitely going to
above 75 and then eventually above 80 and you know long-term uh perspective it's going to go
above 100 but you know we'll stick to the lower time frames for now in my opinion so like i said
if price comes down to this 54-hour zone again i'm probably going to still look for 15-minute
confirmation in there and at least look to trade it to 73. um and if i don't get that then what
i'm what's going to have to happen is we have to see a new high made from this peak here and then
i'll continue to look for 15-minute pullbacks first set and forgets in that trending market
alright everyone thanks again for watching this week's forex forecast if you enjoyed this video
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pairs you're looking at this week and you know maybe we can get in touch and you can
send me a chart and let me know what you're looking at i always like looking at charts
so with that being said let's have a great trading week and let's make some money cheers