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 alright starting things off with the US dollar Index and
first of all there is no cut report this week due to American Thanksgiving so this week we'll
just be going uh straight off of the charts and looking at the weekly chart in the US dollar we
didn't quite get the up move that I wanted in the US dollar I wanted a pullback to daily Supply but
as you can see we clearly just pushed down this past week kind of hovered in the middle too but
we couldn't react off that Weekly Demand anymore but in my opinion I would say weekly demand is
in control on the US dollar now looking at the dxy daily chart here and last week's forecast I talked
about how I was expecting and I want a price to push up to this daily supplies on that 109.6 on
the US dollar Index and then we could possibly look for shorts on the US dollar at that point
but that didn't end up happening we're actually reacting off of this daily demand from a long
time ago uh once again in the US dollar so where is the US dollar going to be headed from here in
my opinion since weekly demand is technically in control I think it's very possible the US dollar
continues to Rally whether it gets held up by this daily supplies on at 109.6 we will have
to see what happens if price does push back up to that now if you want to short the US dollar
I think it's fine but on day trading time frames only in my opinion now if price is going to head
back up to that daily Supply at 109 like I just talked about what we're going to see happen is
this upward or sorry this downward trend line start to get removed and this supplies one as
well probably get a pullback and then push up to 109. so that's what I'm going to be waiting
for and watching on the US dollar index in my opinion if you look on the top left screen in
the bottom left screen we have a weekly Supply Zone and a daily Supply Zone price usually really
retraces back to supply and demand zones so like I said I wouldn't be surprised if price pushes
back up to supply in the daily or even greater all the way up to that Weekly area of supply
all right on to the Euro US dollar obviously this is just the inverse of the dxy now looking at the
Euro weekly chart we clearly lost momentum here we had a very significant downtrend and we actually
removed weekly Supply on the weekly chart which has left us with this weekly area of Demand on
the Euro now buying the Euro US dollar right now is a definitely a little bit risky if you are it
must be on day trading time frames or you could wait for price to pull back to this weekly area
of demand and then look for a potential long entry now technically the overall momentum is still down
so getting long in this weekly area of demand is definitely a little risky in my opinion another
option on the Euro US dollar is this daily chart here we got daily confirmation so if price pushes
back to this daily air of Supply you could look for a confirmation trade coming off of that daily
area of demand now in last week's forecast as well I did mention that I think the price was right
around here and I said if you are going to short the Euro it must be on day trading time frames and
I would definitely look to take profits before this uh four hour area of demand and as you can
see price couldn't even hit this demands on and we got a pretty nice reaction around that area so I
just wanted to point that out as well so as far as trading goes now what I would wait for is I would
wait for this high right here to be removed like this and at that point we will have the ability to
draw the four hour uptrend and then we can start to look for Longs on day trading time frames but
only day trading time frames I think that is what makes the most sense on the Euro US dollar and
like I also said about this daily chart you could wait for this to be hit I know my take a while and
you could look for a one hour confirmation trade coming off of that and if you guys do want my
zones for confirmation or however you guys like to trade check out the YouTube patreon membership we
can get all my zones on a daily basis check that out in the link in the description down below
all right on to Gold the past week we almost hit my daily area of demand here as you guys know I
was definitely interested in buying gold in this daily area of demand at 1722 and price couldn't
quite hit that and we almost reacted off of it there and pushed up so unfortunately I missed
that entry but who knows it's very possible that gold does turn around contact this daily demand at
1722 and then rallies up so as far as gold goes now I am personally kind of just waiting to see
if that takes place or I'm either going to wait for new daily demand zones to be formed and then
I will look for potential long entries so I am not going to be chasing price here in Gold it's
very possible we continue to actually pull back even more on gold as far as trading it now goes I
am not seeing a whole lot of setups if you come to a four hour chart here we do have this four
hour Supply Zone I had drawn for the members right there you could have got a trade-off of that on a
confirmation or if price pushes down here at 1711 which is actually inside of this daily demand Zone
you could look for a confirmation trade coming off of that as far as trading gold goes for other
setups I'm really not seeing too much else I think it's a time where we have a significant area of
daily demand here and I think it's best to either just wait for that to be hit and look for Longs or
if anything maybe stick to day trading time frames for the time being since we don't even really have
a four hour or a one hour Trend price is just kind of going sideways and it's very indecisive right
now that is why I believe we'll probably pull back daily demand and hopefully we can get a long
entry down in there all right on to USD JPY first things first looking at the wiki chart remember
we do have a very strong weekly uptrend in the usdn right here and we are clearly reacting off
of my weekly demand Zone that I've had drawn for quite a while now and we haven't quite seen a very
significant shift in momentum on the lower time frames as far as confirmation goes to the upside
so I wouldn't be quite going in long just yet on the usdn uh what I'd be waiting for first of all
I wouldn't be shorting the usdn because of such a strong weekly uptrend I think shorting is actually
probably the wrong thing to do in my opinion uh based on just odds of trading against the trend
and as far as this four hour chart goes here on the usdn what I'm looking for for confirmation
is well first of all there's two Supply zones there's this four hour Supply Zone and there's
also this four hour supplies on I also did call out this supplies on in last week's forecast so in
my opinion confirmation will look something like this where we can remove this four hour Supply
Zone and this downward trend line now if we can get both Supply zones removed like this and get a
nice pullback to a four hour area of demand that would be a great entry as far as a confirmation
long trade goes in USD Japanese Yen there are a few other ways to look for confirmation as well
and I do go over that in my private confirmation trading video series that's available for silver
members so definitely check out that membership there's much more included as well like private
members forecast every Sunday and much more so definitely check that out as far as usdn goes
I'm just simply waiting for momentum to start to shift hopefully get a four hour uptrend as well
and then I think Longs are definitely on the table for USD Yen and remember shorts are definitely low
odds based on price being contacted with weekly demand and in a weekly uptrend all right on to
the forecast for the GBP USD the British pound this is a very interesting chart first things
first I want to look at the weekly chart on the pound here as you can see the overall momentum is
down we did lose this kind of short-term momentum right here but the over momentum is still down and
I want to make sure that you guys are definitely aware of that now it does to me look like we are
possibly starting to base up for a bigger push up but that does not mean that we should just
be getting in Long now why should we just be getting along well not only do we have downward
momentum but we are also reacting off of weekly Supply right now so in my opinion this is what we
should be looking for on the GBP USD if you come to a daily chart here since we are reacting off
of weekly Supply and basically what is a weekly overall downtrend the confirmation short is going
to look something like this on the daily chart where we can remove this daily demand at 1.19
and if we're left with daily Supply that would be where you look to potentially trade in short at
that daily Supply Zone that would be confirmation coming off of the weekly Supply zone now as far as
Longs go if you do believe that we will break that Weekly Supply Zone that is fine you can
definitely have assumptions in the trading markets 100 I think that there's nothing wrong with that
but you have to have a plan and in my opinion if you do want to get in Long the pound it is
definitely risky based on weekly Supply being in control but if you do want to get in Long simply
I would wait for this daily demand to be hit at 1.19 and then wait for a confirmation trade on
a four hour or a one hour chart to get in Long those are pretty much the only two options I
really see here on the GBP USD it's definitely a difficult time to to see you know where price is
going to go and to kind of predict that so in my opinion everything should be revolved around this
daily demand whether you're getting in Long at it or you're waiting for it to be removed to get
in short all right on to the USD CAD now remember on the weekly chart in the USD CAD uh we couldn't
really touch that Weekly area of demand and if you look in the daily chart here you can clearly
see we are reacting off of my daily supplies on now you could have been looking for short trades
um in that daily supplies and it wouldn't really been super high odds but you know obviously we got
the uh the reaction off of that daily supplies on the USD CAD so as far as trading it goes now
I'm really unsure what to do here there's a very conflicting two conflicting narratives right where
we have a very strong weekly uptrend pulling back almost hitting weekly demand we also have downward
daily pressure with daily Supply reacting off of it perfectly so it is a very confusing time and
with that being said I think that for long trades if you are swing Trading I think the best thing
to do is just to wait for this daily Supply to be taken out and if we're left with daily demand you
could look for Longs inside of that daily demand zone now as far as other as if you're looking to
you know day trade this pair or or whatever you like to do if you are looking for day trades what
I would wave for is simply this I would be on this four hour chart and I would be looking for
either this low to be taken out which would make a four hour downtrend again and then looking for
shorts on day trading time frames on the way down to weekly demand I think would be fine
um as far as long as go on day trading time frames we want to see an uptrend but in order to get an
uptrend we need to see this High removed and likely this Supply as well so if we can get
this to take place giving us a four hour uptrend then at that point I think looking for Longs on
day trading time frames would be okay but for me personally what I'm waiting for is for this daily
Supply at 1.346 to be removed before I start to get in long to continue to trade with this
overall weekly uptrend or if price continues to push down even lower and we contact this weekly
air of demand at 1.317 I will definitely be interested in getting in Long at that area
all right on to the Aussie US dollar as you can see here on the weekly chart we are reacting off
of weekly Supply and a weekly downtrend so to be very clear I am only looking for shorts in
the Aussie US dollar if you are looking to get in long I do not recommend it based on
weekly Supply being in control of course the weekly Supply could break and you guys could
be right if you are going along that's 100 possible but in my opinion and in my
um trading career I've realized that trading with the trend is extremely important especially
if we are pulling back to a significant weekly Supply Zone like this so to be very clear what
I'm waiting for is for confirmation coming off of that Weekly Supply Zone and what that's going
to look like is something like this where we can get this upward trend line This demand Zone and
this demand Zone removed and then if we're left with a four hour Supply zone I'll be interested
in trading that four hour Supply zone so in my opinion this is setting up for a fantastic
potential and I really am emphasizing that word potential trading setup who knows we could see
this price continue to push up break in the weekly Supply and you know we never get the confirmation
but if that happens it's completely fine I won't be in the trade anyways so like I said I'm waiting
for a shift of momentum where we can not only get this demands under move but this demand Zone which
is a very significant Zone because we reacted off this demands on already proving to us that
there was demand in this area which post price up higher and obviously if we can get the upward
Trend liner moved as well that would be a great indication that price will potentially be going
lower so as you can see I have my alert set on the Aussie dollar down here and if price does
just break this demand zone I'll definitely be interested if there is a four hour supplies on
above to potentially trade but I would definitely prefer to see both zones and the trendliner move
first before we get in short all right on to the USD Swiss franc we clearly got a reaction off of
this weekly trend line in the last couple weeks and we do have four hour downtrends and you have
price at the low of daily demand now I did want price to uh push up to this daily demand at 0.98
but we couldn't have got that yet so in my opinion there's really not much to go off here uh on the
daily chart so in my opinion I would just be over on the four hour chart and what I'd be
looking for here there's a few options you could either wait for like I said and I think it was a
USD CAD forecast you could wait for a load of beer move which would create a downtrend or you could
wait for this High to be removed and this Supply and wait for an uptrend and then you can start
to day trade long or day trade short whatever which one happens first so wait for a four hour
Trend to begin whether it's long or short and then maybe look for day trades based on that
Trend another option is since we have a clear High here in my opinion if price pushes up to this four
hour Supply Zone you could potentially look for a little quick day trade short coming off of that
four hour Supply Zone looking for confirmation so other than that really not too much else on
USD Swiss like I said I'll just be focusing on the lower time frames considering that the daily and
the weekly chart are not really giving us too much information all right last but not least we are on
to crude oil now we are contacting uh weekly area of Demand right now and I am personally looking
for Longs uh in crude oil we do have a daily supplies on here that I'm going to draw right now
and it's not a great daily Supply Zone but as far as looking for Longs go the safest option
since we are reacting off higher higher time frame demand zones Longs could technically be the better
play rather than short I will get into shorts in a minute here but as far as long as well the safest
play would be to wait for this daily Supply to be removed and then look to get in Long on pullbacks
that is the safest option for Longs coming off of higher time frame demand as you can see in my top
left chart as far as um a more aggressive entry long it would look something like this where we
can remove this four hour Supply Zone in this downward trend line and hopefully this supplies
one as well that we had a great reaction off of so if we can get you know we can start to see a
shift the momentum here and get a pullback that would be a more aggressive entry long as far as
shorting goes there's quite a few options actually we could be looking for a confirmation trade
coming off of this four hour Supply Zone on a 50 minute chart you could do that or you could be
looking for set forget trades to the downside as well but remember if you are going to be shorting
since we only have a four hour downtrend only then shorts must be on day trading time frame
since we don't really have a weekly or a daily downtrend yes the daily momentum is down but the
only clean trend is on the four hour meaning you would have to be potentially day trading short on
day trading time frames so hopefully that makes sense um the safest confirmation trade long like
I said is removing this daily Supply and the more aggressive one is removing this four hour area of
supply and that trend line 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 cap per month hope to see you guys there and hope to see you in the next video