how's it going traders i hope you guys enjoyed this week's forex forecast
all right starting things off with the us dollar index the past week the institutions added 1 000
longs and they added 2 000 short positions and that is still as we are right at this weekly
slash monthly area of supply if we come over to a daily chart here we have a significant demand zone
still holding up price this zone right here and until this is broken i'm not going to be super
bearish on the dollar and if it continues to go up then i will be bullish and the sign that
we will be bullish on the dollar will be for this new high to be removed up here so keep an eye out
for this high right up here and as soon as that breaks i think the dollar is going to go higher
but like i said keep an eye on this daily demand zone right here and make sure you know if this
does break it looks like we'll probably be headed lower to this demand and then when that breaks
i'll be pretty bearish the us dollar euro usd the past week the banks added 3 800 longs and they got
rid of 11 000 short positions so clearly with the cot data they are taking profits on some of their
short positions we reacted very nicely off of this daily area of demand that i had for the youtube
and patreon members here my targets to the long side would still be 1.141 and to the short side
it would be 1.170 but right now the euro just it's been very very sideways if you come to a four hour
chart there's just been no trend on the lower time frames as you can see up here i have an alert at
that red dashed line so i am currently waiting for this alert to go off and we will have a very nice
four hour uptrend and i will be looking for 15 minute long positions i personally don't think
the is going to go lower i am bullish the euro at the same time i need to wait to see this trend
play out because like i always recommend to in the live streams you know i don't like to trade in
this job it's very difficult to tell where price is going to go go and it's very easy to be stopped
out so i'm personally just waiting for this high to be broken to get along and i'm waiting for
this low to be removed down here to possibly get in short for a short position on the euro
all right looking at gold the past week the institutions got rid of 9 700 longs and they
also got rid of 1 000 shorts they still remain 78 percent long and we still are in this overall
weekly area of demand right here but we are contacting this trend line too so we've clearly
seen a lot of sideways action uh around this trend line right here so it's all a matter you know if
if gold is going to you know break this trend line or not if you do get in long i would target 1850
or maybe just 1810 right before this flip supply zone right here if you're going to get in short
i would target 1710 even though i don't really recommend shorting gold right now i do think
it's possible it could go lower but we are like i said in this overall weekly area of demand so i'd
be very very careful getting in short for me to get in involved in gold and getting long i'm gonna
have to wait for this downward trend line and at least this supply zone to be removed i'm actually
going to change the way i draw it like this something like that so for me to be bullish on
gold this is a four-hour chart i'm gonna have to start to see buyers step up so something like this
remove this downward trend line and maybe this supply zone as well then i'll be a buyer of gold
so i'll be waiting for a pullback hopefully to a four hour area of demand and if you
want my four hour area of demand or any of my demand zones or supply zones definitely
check out the youtube membership links in the description it's only five dollars cad per month
you can get all of my zones on a daily basis they're very useful for confirmation trading
set for get trading so definitely check it out it could definitely definitely help you in your
trading and i think that you guys will very much enjoy it so hope to see you guys there
hopefully we can get a move up in gold and we can get a nice buying opportunity in gold
usd jpy the past week the institutions got rid of 17 000 longs and they also got rid of 1400
short positions which leaves them 85 percent long this pair look at a daily chart we're just going
sideways right now if you're going to get in long i would target 115 if you're going to get in short
i would target 112 right before this daily area of demand it's all going to depend on the lower time
frames though as you can see in this whole area we've just been going sideways so let's hop down
to a lower time frame here you look at a four-hour chart same thing just a whole lot of sideways
price action so i am not interested in trading this one if i'm gonna get in long i'm gonna have
to wait to see a new high formed up here with a nice four hour uptrend if i'm gonna get in short
you know i'm gonna have to start to see some very clear downward pressure and a nice clean
downward trend but i am just not seeing that one right now if you look on a one-hour chart we have
a very clean downtrend so if you wanted to trade a five-minute chart or a one-minute chart i think
that that would be okay but at the end of the day i just i'm not very interested in trading the usdn
and your decision to go long or short is basically going to be all around the us dollar and as you
know i am kind of bearish the us dollar right now so i'm currently waiting for the us usdn
on the four hour chart to kind of make up its mind before i get involved
gbp usd the british pound the past week the institutions got rid of 3 100 longs and they
also got rid of 3 700 short positions if you look at the daily chart here we are still in a daily
downtrend and momentum is being shifted a little bit on the lower frames which we're going to
look at in a second and we are still in this whole daily area of demand here and real quick if you're
enjoying this video if you're finding this helpful please like share and subscribe if you're not yet
would really appreciate it i will be live streaming next week so certainly check that
out during the new york session i hope to see you guys there and let me know in the comments down
below you know what pairs you're watching this week i'm very interested to see you know what you
guys are thinking so on the daily chart we are in this daily demand if you're going to get in long
i would target 1.345 if you're going to get in short i would target 1.311 around that area which
would be breaking this daily area of demand if you come to a four hour chart i thought this was very
interesting i've been talking about a shift of momentum on this four hour chart for a while now
and we finally had it we actually have a trend line removed and a supply area removed so this
downward trend line removed and this supply area has been taken out which has left us with this
four hour area of demand i'm not very interested in trading this four hour area of demand but if
you are bullish to pound we could see a pullback down to here and you can look for 15 minute
confirmation coming out of this zone and a move up like that i personally won't be doing that but i
could see something like that working and if you don't know what confirmation is definitely check
out my tips playlist video i'm sorry for plugging so many things but it'll definitely help you out
in that confirmation video so certainly check that out but clearly buyers have stepped up in
the pound it's all going to be dependent on you know are they going to actually continue to move
up or are they going to push down here break lower and continue the trend down that's why i
think you should look for confirmation in here and not just be buying this 4-hour air demand
all right on to usd cad the past week the institutions got rid of 4 800 longs and they
also got rid of 147 short positions we clearly reacted off of this daily area of demand that
i had for the youtube and patreon members if you're going to get in long i would target 1.281
and if you're going to get in short i would target this daily area of demand again at 1.2645
if you come down to a lower time frame on the four hour chart there's not really a trend in play but
clearly the momentum is up we we actually reacted off of this four hour area of supply but we now
are about to contact this four hour area of supply as you can see this wick we almost touched it and
we are about to go up to it again so we could see price roll over it's all going to depend on the
us dollar index so if you're going to be buying i would certainly be cautious of that four hour area
of supply i don't really recommend shorting this area either or looking for confirmation in here
because we're coming off of daily demand down here you come down to a one hour chart the momentum is
clearly up but like i said we are about to contact this four hour area of supply that i just pointed
out so i would be you know very cautious getting in long i'm actually probably going to be staying
away from this pair this week and i think i'm going to be focusing my attention on other pairs
the aussie dollar aud usd the past week the institutions added 163 longs and they also added
17 70 short positions our daily target of 0.715 was hit if you are going to be shorting i would
target this area right here before daily demand at 0.707 if you're going to get in long i would
target 0.72 and i'm actually very interested in trading this pair if you look it looks like
we are basing up for a big move up i could see the aussie shooting up and this is definitely
a pair that's going to be on my watch list this upcoming week if you come to a four-hour chart
we almost have a four-hour uptrend what i'm going to need to see for this four-hour uptrend to
continue is this four hour area of supply right here to be completely removed so a move up like
that i'll be looking for 15 minute uh set and forget trade and if you don't know what set and
forget trades are definitely check out a video i made the other day called set and forget trading
it is in my tips playlist highly recommend it i've received a lot of good uh feedback on that
video and actually a lot of people sending me trader views saying you know the that
that video helped them take many good send for get trade so definitely check that out
so that's what i'm waiting for on the aussie i'm waiting for this four hour area of supply
to be removed and you know very simply i'll be looking for a 15-minute pullbacks
and might like i said earlier my target is at right before this daily area of supply at 0.724
so the aussie certainly setting up for a potential potentially nice long trades just gonna have to
wait for that four hour area of supply to be removed first and you can see i actually have an
alert set above this high which will let me know that we do have a four hour and one hour trend
all right usd swiss the past week the institutions got rid of 3200 longs and
they also got rid of a thousand short positions this is a pair that's not really on my list
but you if you are going to get in long i would target right before this daily area of supply at
right around 0.932 if you're going to get in short i would target rate before this demand at 0.915
um but for me i'm not going to be trading this one there's just a whole lot of sideways
action for me to start to get involved in this pair i'm going to need to see
significant lows be broken here but if we do get this demand zone on the four hour broken and this
low we'll have a nice little bit of a four hour downtrend and maybe i will look for a 50 minute
set for get trade to the downside but i'm not 100 sure just yet i'll have to see what price
action is telling me and definitely check out the live stream next week maybe we can get a setup in
the usd swiss but not for now not very interested in trading this one there's just a whole lot of
sideways action if you just look at this whole general area right here it's just clearly going
sideways so for me i'm gonna need to see price break out of either one of these areas like this
or like this for me to start getting involved in this pair all right last but not least crude
oil the past week the banks got rid of 19 000 long positions and they added a whopping 725
long positions our target right here at 72.8 was clearly hit right before this flip zone
look at the power of my targets right before this flip zone here look at price hit it barely could
go above it and push right back down so if you're going to be getting in short which i don't really
recommend right now i would target 65 if you're going to be getting in long i would target 77
a barrel i'm personally going to be looking for long positions and what i'm looking to do
and i think i actually talked about it last week but there's been a whole lot of sideways action
in the market so not it's basically almost the same forecast as a last week but i'm going to be
waiting for this downward trend line and this four hour area of supply to be removed i don't need to
see something like this maybe create a four hour zone like this maybe look for confirmation in
there or if we break above that zone we'll have an uptrend and i'll be looking for a 15 minute send
for gets to the long side because when price came down here we contacted monthly demand i
know my drawings are kind of all out of whack i apologize but monthly demand became in control
down here so i'm pretty bullish on oil like i said i'm waiting for this downward trend line
and this four hour area of supply to be removed and then i'll be very very bullish
on crude oil i'm not going to be shorting crude oil if you do definitely be very very careful and
look to take profits a little bit early 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