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 starting things off with the us dollar
index the past week the institutions added 1100 longs and they also added 1685 short positions and
remember if you want that car report spreadsheet links in the description at the youtube or the
patreon membership so first things first looking at the weekly chart here of the us dollar index i
talked about how it's very possible we pulled back to this weekly area of supply we haven't quite
contacted it yet we are just off by a little bit but you can basically say you know weekly demand
is in control right now so buyers are possibly going to be stepping up and as you can see on the
lower time frames on the four-hour chart we have lost this downward momentum so that is the sign
that the us dollar is going to continue to go up now i wouldn't really feel comfortable getting
it long just yet i would like to wait for that high to be removed leaving us with a four hour
uptrend like this and then i think you know it's very likely and it's high odds to be starting to
get in long on us dollar pair so that's pretty much all i'm seeing here on the us dollar index
so yeah definitely i would definitely not be shorting the us dollar right now
and i'd just be a little bit more patient uh to wait for some long trades on us dollar pairs
all right on to euro usd and really quick in last week's forecast i talked about this area of four
hour demand right here how we could see a move up from here and we did see a very nice move up
so just wanted to show you guys the power of the supply demand zones that i draw and remember if
you do want these all these supply and demand zones on a daily basis check out the youtube
or the patreon membership uh links are in the description it's only five dollars cad per month
i would love to see you guys join the team and you know you can get all of these zones on a daily
basis so you can catch you know basically every move i would like to see you guys all join the
team uh with all the other members who are using my zones to use them for profitable trading so
now looking at the car report here for the euro the past week the institutions got rid of 519
longs and they also got rid of 13 861 short positions so just like the opposite of the dxy we
are contacting this weekly area of supply on the euro right now so it's very likely we see a move
down here from the euro or at least a small move down but the reason i think we could see a bigger
move down from this weekly supply is not only because we are in weekly supply but if you look at
this trend on the weekly chart it's a very clear downtrend so i would not feel comfortable going
in long just yet so if anything i would be looking for a four hour confirmation trade
and what that's going to look like is something like this once we remove this demand zone here
leaving us with four hour supply that would be a decent little shorting opportunity on the euro
but just like i said on the dxy it might be safer to wait for this low to be taken out
leaving us with that four hour downtrend and then we can start to hop onto the short side
but ultimately i think looking for shorts at any time is definitely okay based on the idea that we
are in weekly supply in that weekly downtrend so the euro is looking pretty uh weak right now yes
we have seen a nice move up but like i said we are contacting weekly supply in a weekly downtrend so
i am definitely expecting a downward move here on the euro usd all right next we are on to the gold
forecast and really quick if you guys are enjoying this video so far and appreciate my weekly forex
forecast make sure to hit that like button and subscribe if you are new to the channel would
be happy to see you guys return back every week so looking at gold cut report here the past week the
banks got rid of twelve thousand seven hundred and forty three long positions and they also got rid
of fifteen hundred short positions and i talked about how weekly demand is in control right now
on gold and if you come over to a daily chart here we actually almost reacted off of this daily
demand but clearly in my opinion gold is looking pretty strong right now so i would actually be
looking for some buying opportunities in gold and right away my my my eyes go right to this four
hour area of demand right here so i think you know looking for longs here is definitely a decent idea
what you could be doing is going down to a 50-minute chart and looking for confirmation
coming off of this four-hour area of demand and we actually have a very beautiful four hour uptrend
here i actually forgot to draw it out for the members but here it is right now so we have a four
hour uptrend and we're sitting in four hour demand so looking for a 50 minute confirmation here
is definitely a great idea um i'm not really seeing anything just yet but the confirmation that
you're looking for is either this supply removed or this supply removed so if you do want to get
in long i would at least wait for this for uh 15 minutes supply to be removed first and this one
removed as well would also be great but this would be the more aggressive trade once that's removed
but ultimately i think gold is is going to push up from here we're just going to see how
it works this week but like i said 15-minute confirmation is definitely going to be needed
coming off of this four hour area of demand here and if you don't know what confirmation is check
out my tips playlist links in the description i have a few confirmation trading videos and i
can definitely put you on the right path to look to get involved long here on gold yes it's very
possible we just peek through and then go up but ultimately i think looking for a confirmation is
the right thing to do here on gold coming off of weekly demand and basically daily demand as well
all right usd jpy forecast and remember comment down below what pairs you guys are watching this
week i'm very interested to see what you guys are looking to trade this week so definitely
let me know in the comments down below looking at the call report here for usd jpy the past
week the banks got rid of 6 300 long positions and they also got rid of 1 300 short positions
we had a daily supplies on here that was holding up price for a bit and we actually just removed
that and we exploded to the upside here on usdn so i think the uscn is going to go a lot higher
and here's another reason why we have a very very strong weekly uptrend yes we had a little bit of a
pullback but ultimately we are going back up which is very expected i've been talking about the usdn
for quite a long time so now let's look for a few trading setups i do see a couple setups
here one we have a four hour demand zone right here you could certainly look for for
a 15-minute confirmation coming off of that four-hour demand zone i think that's a great
little trading setup right there or there's also a one hour demand zone right here you could look for
five minute confirmation coming off of that zone but i definitely like the four hour demand zone
a lot better than this one hour demand zone so ultimately i think the only setup i see here
is to wait for this four hour demand to be hit and look for 50 minute confirmation coming off
of that four hour area of demand and i do not recommend shorting the usdn right now
yes we are coming up to the high right here on the daily chart we could see a small move down but
ultimately i think looking for longs is going to be much better based on that weekly demand so just
wait for that four hour demand to be hit and look to trade a confirmation trade to the long side
gbp usd forecast and in the last week's forecast i talked about how it's best to wait for this upward
trend on the one hour chart to look for longs until after that happens but we did not break this
high right here and as you can see this one hour supply held up very well so just wanted to show
you guys again the power of supply and demand we actually had a nice little one hour trading setup
right here but price could never get right back up to it but ultimately there was another zone
here for the youtube and patreon members that they could have looked to get involved in here
so if you did congratulations to you guys so just wanted to show you guys that quick here on the one
hour chart on the pound now looking at the cut reports the banks added 4 800 longs and they got
rid of 1415 short positions the daily charts a little wacky here we have lost momentum with the
break of this daily supply but ultimately i think the pound is going to go much lower because i do
think that the us dollar is going to get stronger so as far as any trading setups go i don't see too
much what i would be waiting for is waiting for this four-hour demand to be broken as you can see
this demand was extremely strong this is a key area of demand right here we've had one reaction
two three and we're now coming in for the fourth test so this demand zone is getting weaker and
weaker but it also means that this is significant demand so what i would do is i would wait for this
four hour demand to be removed hopefully leaving us with four-hour supply right here where we can
look to get involved to the short side either that or once we break the low here like that we will
have that four hour downtrend then we can start to trade send forget trades the downside i also have
a tips playlist in the in the description and i have a couple videos on set and forget trading as
well if you don't know what i'm talking about so i think the pound's going lower to just do a little
recap the pound most likely is going lower but i would wait for this key zone to be removed first
before hopping in to the short side on gbp usd usd cad the past week the banks got rid of 4 100
longs and they also added 1521 short positions we are actually contacting weekly demand right
now in a weekly uptrend on usd cat and really quick i just had a question for you guys i'm
very interested to see comment down below where do you guys think the us dollar is headed do you
think it's going to go higher from here or much lower i'd be very interested to see your guys's
response so let me know in the comments down below so we're sitting in weekly demand here on
the usd cad and so is the us dollar so very simple to keep it very simple for you guys i would be
looking for four hour longs on this pair right now and what that's going to look like is the removal
of this nearest four hour supply zone so once we get this four hour supply zone removed right here
then i would look to get in uh long with the with the four hour demand right here that would be your
long entry right there but ultimately it'd be best if we got this downward trend line removed as well
so if we see something like this and there's a four hour demands on here which will be available
if you're a youtube or patreon member that would be a fantastic four hour confirmation trade to
look to get involved so that's pretty much all i see here on usd cad weekly demands and control
i'd be looking for four hour long trades and like i said if you want the zone that
removes all this stuff check out the youtube or patreon membership links in the description
i can certainly help you with your trading like i said before but usd cad looking pretty strong
right now yes we've had that pull back into weekly demand but i think we could see a large up move
from that demand zone all right on to aud usd forecast the past week the institutions got rid
of 3 600 long positions and they also got rid of 446 short positions we have had a shift in
momentum here in the daily chart we are pushing up higher so if price comes down to this daily
demand zone you could definitely look for a little confirmation trade coming off of that daily demand
but ultimately i think we're going to go a little bit higher here on the aussie just for a bit but
it's kind of a weird looking chart i'm definitely not very interested in trading this pair right now
the only real setup i see is this four hour demand zone right here in a four hour uptrend
but the problem is that it's right around this upward trend line and my with my experience
all the experience i have trading when price comes down and reacts off of a trend line and a zone
usually what you see is a spike through and then a push up so if anything i would only be
looking for 15-minute confirmation coming off of this four-hour demand and that's pretty much all
i see but we could also see the aussie dollar just continue to go down because we have that
weekly downtrend so we could at any time see this just start to roll over but i would not consider
shorting until all of this is removed so once we get a nice push down from here if we don't get the
confirmation for long trade if we get it pushed down breaking this upper trend line and this
demand whatever four hour supplies on our moves that would be very significant and that would be
a nice little shorting opportunity so right now in the aussie just kind of sitting and waiting on
our toes and uh waiting for confirmation uh to either side but i think ultimately we'll
probably go lower on the aussie dollar just need to wait for that uh four hour confirmation first
usd chf forecast the past week the banks added 2071 longs and they also added 1 286
short positions starting off with the weekly chart here just want to show you guys the overall
perspective here the weekly trend is clearly up so we could at any point see the usd swiss
just continue the up move on the lower time frames we have had downward pressure
but if you come over to a daily chart here we have a nice little daily supplies on here
so there's a few options here you could definitely look for a little one-hour confirmation trade
coming off of this daily area of supply i think that's completely fine and let's say
we get it i would look to take profits somewhat early maybe a one to one maybe a two to one
but if you're looking to get in long i would wait for this daily supply to be removed so we could
just wait for that to be removed and then leaving us with daily demand and we can look to trade that
um so usd swiss looking pretty interesting here it's kind of a weird looking pair based on all
the time frames but ultimately i think we're going to go a little bit higher here on the usd swiss
just going to have to wait for this daily supply to be removed first but like i said you can also
look for a little one-hour confirmation trade to the short side here on usd swiss all right last
but not least crude oil the past week the banks uh got rid of 858 longs and they also added 927
short positions in last week's forecast i talked about how if you were getting along i would look
to be taking profits somewhere before this daily supply so definitely would be taking
profits if you are long right now and i don't really recommend shorting this and why don't i
recommend shorting this well look at the weekly chart we actually just broke all of this weekly
supply right here so in my opinion it's getting very strong so i would not feel comfortable at
all getting in short on oil here and i don't really like the idea of getting in long just yet
i think it's actually best to wait for this daily supply to be taken out first or wait for it to
go through it just a little bit more and then i would look to get in long at least it's a little
bit aggressive but i think it'll work out um as far as any trading position any trading setups
go you know if you're really really eager to get in long oil like i said you can ignore that
daily supply if you want you could look for a 15-minute confirmation coming off of that
four-hour area of demand or you could look to set and forget trade a 15-minute chart to the upside
so a few options here on oil long trades are certainly aggressive but it could definitely
play out in your favor just you know since we're sitting in daily supply like this if you do want
to get in long you know at this four hour demand zone or even at this one hour demand zone right
here i would maybe consider you know using half risk or a quarter risk or just a little less
risk based on daily supply being in control but remember weekly uptrend is still in play so this
daily supply could be easily taken out 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