how's it going traders hopefully you guys enjoy this weekly forex forecast and make
sure to subscribe if you're new to the channel all right starting things off with the us dollar
caught report the past week the banks got rid of 1800 longs and they got rid of 921 short positions
looking at a daily chart here of the us dollar index we still have an extremely strong uptrend
as well as an extremely strong weekly uptrend as well so in my opinion dollar longs are really
the only thing we should be doing right now there is this daily area of demand right here we could
definitely pull back to that daily area of demand right here where this would be a great buying
opportunity for the dollar so we could see a little bit of downward pressure here on the dollar
but at the end of the day we have a strong weekly trend and a very strong daily trend as well so if
you look at a four-hour chart we pull back to one of my four-hour demand zones i had for the members
and look at the reaction we had off the zone here so that would have been a great time to be buying
the dollar and now that we're pulling back and we're kind of at the highs i think it's best
to kind of just wait right now but you know we never know we will be looking at other pairs in
this video we might find some setups but at the end of the day us dollar very strong uptrends i
would only be considering buying us dollar pairs all right on to euro usd and i just want to show
you guys a quick trade review from one of the youtube and patreon members uh who caught this
beautiful four-hour trade just barely got filled here but just wanted to show you guys that little
trader view from here i like to give trader view shout outs to some of the paying members
so just want to give them a shout out there and if you do want to join the membership links in
the description get all of my chart analysis on a daily basis for only five dollars cad per month
so looking at the cot report here for the euro usd past week the banks added 102 longs and they
also added 8 400 short positions looking at the daily chart here still very strong daily downtrend
we reacted off of my daily supply zone right here so you could have got a trade in there
but obviously that has already happened so let's look for a few setups now so what i like to do
is i like to look at the weekly downtrend daily downtrend and then from there i like to think okay
i don't want to be trading against those trends so i'm only going to be looking for shorts but the
problem with the euro right now is because is that on the one hour chart we have lost momentum here
we had a nice one hour downtrend and we actually just broke above that one hour downtrend now so
it's looking pretty strong on the lower time frames i still believe the euro will continue
to fall down this four hour supply zone that manny got a trade off of here i think it's i
think it's definitely okay if you want to look for a 15-minute confirmation coming off of the supply
zone yes it is tested but just barely so if price does come up to this four hour area of supply
you could definitely look for a 15-minute confirmation coming off of that supply zone
other than that i really don't see too much at all um yeah so i would just set an alert at that four
hour area of supply and then look for confirmation in that area that's pretty much all i see here on
euro usd all right gold forecast the past week the banks got rid of 16 680 longs and they added 10
859 shorts and i'm not too surprised i've been talking about gold and how we broke this weekly
area of supply which has now left us with weekly supply or sorry weekly demand now leaving us with
weekly supply we have a nice daily downtrend here as well so my opinion like i said last week gold's
it's it's shorts all the way right now i would have to look at the bigger picture like three
month six month yearly chart to really see what's going on on the higher higher higher time frames
but at the end of the day gold is looking very weak right now so it should be short all the way
yes it's very possible we pull up to this daily area of supply right here and we can get a nice
short trade from there or we actually pull up to this weekly area of supply where we can get a nice
short on gold and believe me guys i am a gold bug i love gold i invest in physical gold but
i cannot deny the charts when you know weekly a significant weekly demand has been broken and we
have a daily downtrend you know it doesn't not matter what i think about gold personally all
i see is short short shorts yes we are in daily demand so we could see that upward move but at the
end of the day the trends are very strong to the downside um as far as trading setups go i actually
don't see any nice areas of supply to be getting in short we had a flip zone here we reacted off of
it nicely but other than that i don't see anything at all what i would be waiting for for shorts is i
would be waiting for this low here to be removed let me get my tool out once this low is removed
any one hour area of supply right here like let's say it's right here that would be your potential
shorting setup and i will have these zones if that does take place for all the youtube patreon
members so make sure to check that out so you can get all my zones throughout the week
so that's all i see here on gold it's looking weak but you know sometimes when a price starts looking
weak and you want to get in short there's not a lot of quality trading opportunities and one thing
i like to take pride in is being completely honest with you guys and and saying you know there's not
always a setup but things are looking weak and we just need to be a little bit patient here all
right before we get started on usd jpy just wanted to show you guys what is involved in the level 2
patreon youtube membership what's included you get a daily chart analysis every day you get custom
chart analysis three times a week and you also get a private forecast live stream every sunday
and in this private forecast live stream these are the markets that we go over currently and i always
welcome the members to add pairs to this watch list for that we can go over every single sunday
so i'd be happy to see you guys join the team you can definitely get a lot of value out of it
and especially if you want custom analysis or if there's a pair or currency or whatever that you're
not that i'm not going over in the public forecast so i'd be very happy to see you guys join the team
link is in the description down below so looking at usd jpy caught report here the banks added 2400
longs and they got rid of 3 100 short positions now looking at the weekly and daily chart i'm kind
of getting sick of saying it but you know it is what it is we have such strong weekly uptrends and
daily uptrends that i would still be looking for longs in usdn as far as setups go the only thing i
really see here well there's a few things actually we have a nice four hour area of demand right
here you could definitely look for a 15 minute confirmation coming off of that for our area of
demand that's one thing i see here on usdn and as far as the one hour goes there is even a one hour
demand zone right here let me just draw this trend line out like that and there's a nice little one
hour area of demand right here that's most likely right at that four hour area of demand as well
so there's a little one hour demands on here you could look for a five minute confirmation but i
think it is actually much better to just wait for this four hour demand to be contacted first and
then look for confirmation so not much else to say here on usdn except for you know it's looking very
strong and we just need to wait for that pullback so we can re-enter long gbp usd forecast the past
week the banks got rid of 5700 longs and they also got rid of 2 800 sure positions make sure if you
guys are not subscribed yet to hit that subscribe button and leave a like would be much appreciated
so looking at the pound here still have those very strong downtrends here on the weekly and
daily charts so let's look for a few setups and right away when i'm looking at you know this
screen here and this screen here i am not seeing much at all there was a one-hour area of supply
right here that i had drawn for members that would have been a nice little trading setup but now it's
tested and it's used up but at the end of the day we barely tested the zone so you could look for
a five minute confirmation coming off that one hour supply just remember it is a little lower
odds based on how it's been tested so other than that i do not see any setups here in the pound
yes the trends are very strong the downside but there's just no zones for me to show you guys so
hopefully throughout the week i will have some new zones for the members other than that i think it's
just best to wait on the pound because clearly we are seeing upper momentum here and you know
if you look at a weekly chart or a daily chart let's look at the daily chart here
so we have a daily downtrend when we have the downtrend what causes the trend to change well
if this is a daily chart we're gonna need to start to see one hour demand zone start to form and a
one-hour trend start to form and that is kind of what we're starting to get i would not say there's
a trend in play or there's any new demand zones but it's always possible that this could be the
huge move to the upside right so it's always best to wait for price to fall back down again leave
us with new supply and then get in short so that is what i will be waiting for here on gbp usd usd
cad forecast the past week the banks got rid of 2 900 longs and they also got rid of 3 700
short positions looking at this daily chart here yes we have you know that daily uptrend
but the the chart is just looking extremely weird technically longs are definitely okay
although we are at weekly supply as well but we just wicked through it so to me it's really longs
only but i just i'm not seeing too much here on the four hour chart yes we have a four hour
uptrend but one thing i just noticed just now actually is we are in a one hour area of demand
this trade is kind of low odds so what i would be doing is i'd be on a five minute chart looking for
a five minute confirmation trade i know i've mentioned confirmation a lot in this video and
if you're new to my channel definitely check out my tips trading playlist uh where i go have many
confirmation trading videos so definitely check that out so that's pretty much all i see here
this one hour area of demand is definitely okay to look for a five-minute confirmation trade-in
i don't really day trade anymore so i personally won't be doing that but i don't think that there's
anything wrong you know if we do get a move up from here and you're involved it might be best
to look to take profits after like two to one uh something like that because you know the the the
chart is just looking extremely weird um i don't know i just there's it's just kind of off to me
right it's just it's been so sideways like this in the daily chart and yes we finally broke above it
but i could see us continuing to go sideways for a while so it makes me a little uneasy that's why
i'm kind of staying away from usd cad right now but like i said nothing wrong with looking for a
little day trade in that one hour area of demand all right on to aud usd forecast the past week
the banks added 2 900 longs and they also got rid of three 3 100 short positions looking at my top
left screen here and my bottom left screen we clearly have higher time frame downtrends in play
and we also have a four hour downtrend in play but the problem is that we've lost momentum here
on the one hour chart clearly momentum has been lost by removing that trend line and by removing
this supply zone so right now we are seeing a little bit of temporary strength in the
aussie dollar i would not even consider going in long until we had you know at least removed
this supply zone in this one so that's pretty far away an aggressive entry would be taking a demand
zone that removed the trend line that would be extremely aggressive and i don't even recommend
that at all so as far as the aussie dollar goes yes the trends are down but there's just no setups
right now this is kind of the theme of the video you know i do apologize but i'm not going to sit
here and lie to you guys and be like oh yeah short this buy this right i just i wouldn't
feel right about myself doing that that's why i'm always honest with you guys about you know there
being no setups right now i am not seeing any setups at all i would not consider getting in
short either until we can at least get this demand zone removed and this one removed as well would be
great but it let's say price comes down we remove this demand and we're left with a one one-hour
supplies on here you could definitely look to trade that zone uh just remember it is a little
bit aggressive since we have lost momentum on the one hour chart and we could actually see uh price
go up so a little bit of a weird situation here in aussie but that's kind of the theme with the video
uh just gonna have to be a little bit patient here on a lot of these pairs usd chf the past week the
banks added 2 300 longs and they added 3 800 short positions now yes we have a weekly uptrend daily
is sideways so whenever i see that as far as swing trading goes i don't see any setups so whenever
you have a weekly uptrend and daily sideways i will not be entering on a four hour or a one hour
chart so what does that leave us that leaves us with entering on you know 15 minute five minute
or one minute charts and even then i do not see any setups at all this is just not a good looking
pair right now yes we are in one hour demand but this demand is extremely poor quality it's
been tested once twice coming in for the third test and like i said i don't know what direction
this pair is going to go in so i just wouldn't trade it and i'm probably going to end it there
because like i said i don't feel right telling you guys that oh this is definitely looking good
for longs right now i've been trading for quite a while now and i can tell you that my direction
is pretty decent but right now i just do not know where this pair is going it's kind of all over the
map so i just i would you know i would just stay away that's pretty much all i can say here on usd
swiss i think there's a lot better other pairs to be trading this week all right last but not
least crude oil this is a very interesting one but first let's look at the car report the past week
the banks got rid of 19 788 longs and they also got rid of 7 500 short positions now remember
first things first we do have a weekly uptrend but clearly based on this price action right here we
have lost a little bit of momentum and as you know if you guys been watching my forecast for a while
now i've been talking about this range for oil since you know basically all the way back here
and we actually just wicked through it but i'm not calling this demand zone removed in my opinion
what happened was that traders were basically probably trading this as a support level and they
were all stopped out right there so as far as oil goes it's it'd be pretty aggressive to be trading
this one right now i don't really know where it's going all i can say is we have a weekly uptrend so
i would bet that it's going to be going up to the upside now since we reacted off daily demand down
there this would have been a very aggressive one-hour demand zone setup right here but if
anyone got involved in that zone congratulations to you guys the only thing i could say is daily
demand is in control so longs are definitely in play and i hate repeating myself but i
i've said this like five times now in the last forecast i'm pretty sure i wouldn't be getting
in long until this downward trend line is at least removed so if we have a four hour demand zone like
that that would be my four hour confirmation and hopefully if that happens we can get a huge move
up and continue with the weekly trend that is why i always trade with the higher time frame trends
yes you could have got a short trade we could be looking for shorts right but let's say price comes
down to here well what's going to happen well we have a weekly uptrend so in my opinion the
odds are that that uptrend will continue until proven otherwise so that is why i always trade
with the trend and that is why i am looking for longs on oil like i said i would at least want to
see this downward trend line removed first before i personally feel comfortable applying my capital
uh and into a long position here on oil hopefully you guys found this weekly forex forecast helpful
if you did make sure to let me know in the comments down below leave a like and check
out the patreon or youtube membership if you need help finding your supply and demand zones it's
only five dollars cad per month hope to see you guys there and hope to see you in the next video