welcome to this week's forex forecast make sure you let me know in the comments down
below what pairs you're watching this week and i hope you enjoy the video
all right starting things off with the us dollar index the past week the institutions
added 1377 longs and they also added 679 short positions which leaves them
85 percent long the us dollar and as you can see the power that caught reports we broke
this high which continued this trend line up and we are clearly going much higher in
the us dollar but if you quickly come quickly come look at the weekly chart here you can see that
we've been talking about this for a while now we are still overall inside this weekly monthly area
of supply right here so sellers can still take control of the dollar and push price lower i'm
saying that's very very possible a good indication of what's going to happen on the daily chart
is if we come to this four-hour chart here we have a very significant our area of demand right
here if this gets removed and then i think we could see the dollar push down to maybe like
95.8 something like that or if it continues to go up it look if if we react positively off this
demand zone and continue to go up i do think that we could possibly break this weekly area of supply
all right looking at the euro the past week the banks got rid of 3 700 long positions and
they also got rid of 15 400 short positions which leaves them 58 long the euro usd we talked about
this demand zone here last week and we ended up breaking this and actually making a new low here
which has given us this daily supply so if you want to get it along from here you could target
1.13 it's kind of a shorter target or you could target 1.145 if you do believe the euro is going
to continue to go up if you think you want to short this area of supply or go short on the euro
you could target 1.12 you can see in last week's forecast right here we covered this and our
target to the downside was hit i recommended to be very careful going in long on the euro
so hopefully you guys got involved there and took profits so now it's a very simple decision
if we break this daily area of supply i think the euro could actually continue to move up
if we see reaction off of it and continue to go down then to me it looks like the euro is
going to continue to fall if you come over to a four hour chart we have a very clean four
hour downtrend here that's looking very nice so one option is you could use this uh four
hour area of supply right here to look for a 15 minute confirmation trading if you don't know
what confirmation trading is check out my tips playlist i have a full video on confirmation
trading in there so you could look for a 50-minute trade coming off of this four-hour area of supply
here on the euro and remember if you want all my zones and my chart analysis on a daily basis check
out the youtube or patreon membership links in the description you can use my zones for confirmation
and if you come to a one hour chart here we are about to react off of this one hour area of supply
but i actually think it might be best to actually wait for that four hour area of supply up here to
be hit and then look for confirmation and probably just ignore this one hour area of supply right now
all right looking at gold the past week the banks added 36 827 long contracts and they also added 7
200 shorts which leaves them 77 long gold obviously with all of this russia ukraine
stuff that is going on right now gold saw a very massive push up spiked to eight 1960 and couldn't
hold but i think it's a fake out and it's actually a decent little dip buy on gold right now keep in
mind we still are inside of this weekly area of supply so it could be all a long trap setup
for me personally if i'm going to be getting in long on gold what i'm going to need to see
it happen at least minimum is this 4 hour area of supply to be removed and then push
up and if there's a demand zone there like that you can get involved something like that right
there and of course if you're a youtuber patreon member you will get access to that
and if you want to get in short on a lower time frame you could technically short this four hour
area of supply right here or this one up here a 15-minute confirmation would be completely
fine um but at the same time like i said i think gold is just a decent dip buy right now
but i just don't see any dip buying opportunities if you come to a daily chart right here there is
a little demand right here but not really the best idea if you are going to get in short i would take
top profits pretty early but if you want to get in short for long term you could target 1840.
if you want to get in long on gold you could just target 1960 again
up there but ultimately i think gold is just better for a dip buy just all going to rely
on this four hour chart right here once that's removed i think gold's probably going much higher
all right looking at usd japanese yeah in the past week the banks got
got rid of 2400 longs and they added 551 short positions which leave them 87 long on the usdn
if you do want to get in long you could target above this high that's about 116.5
short side i would target 114.2 now no trend right here on the daily chart if you look price is just
going sideways right here so until this daily chart breaks out i would not be entering on a
one hour chart or a four hour chart until that's removed or that's removed so any trading decisions
on this one are going to have to be made on a lower time frame keep in mind the weekly trend
is up so technically buyers are stronger than sellers right now if you come to a four hour chart
there's a little oops there's a little four hour demand zone right here it's not the best zone ever
but you could end up looking for confirmation inside of this uh four hour area of demand on
a 15-minute chart either that or what you could wait for is wait for a clear trend to take place
on the four-hour chart then you can be sent for get trading a 15 minute or a 5 minute
chart to the upside if you do want to get in long i would at least wait for this supply to be
removed first and then the four hour chart because you can see we've already reacted off of it
two times now almost three times it's a very significant area of supply once that's removed
i think day trading to the lot to the to the long side on the lower time frames is completely fine
all right looking at the british pound the past week the banks got rid of 7 900 longs and they
added 144 short contracts if you are going to get in long in the pound you could target 1.357
short i would target 1.33 and real quick if you are enjoying this video make sure to hit that
subscribe button if you're new leave a like would really appreciate it i do get a lot of dislikes on
these videos so if you are leaving a dislike let me know why anyways there's a daily downtrend here
as you can see very clear defined daily downtrend so in my opinion shorts are looking pretty decent
on the one hour chart or something like that there was a few opportunities here some of them
are losers there's a one-hour zone right here we are in you could be looking for i think 15-minute
confirmation is fine to the short side here but ultimately a little bit of a pullback here on
the pound if you come to a four hour chart there's really not much there is this little supply zone
right here i don't really have that one on my charts because it's not really that significant
but to me you could look for a confirmation coming out of there but overall the pound to me looks
pretty weak and we have that daily downtrend and if you look at the weekly chart it's clear
that momentum is down right it's not like we just have a little bit of a daily downtrend the weekly
downtrend is trend is almost down as well so my opinion uh it's all going to be shorts from here
you could either wait for a new one hour trend to continue down like this and then hop on short
on the lower time frames or you could just be patient and look for a nice little confirmation
setup coming off of that one hour supply but overall the pound is looking very obvious like
it should be shorted but there's just not a lot of opportunities that i see right now on the pound
and if you've been following my channel for a while i i'm not like every other trader youtuber
trying to sell you a course or whatever and just always tell you there's an opportunity
i'm just letting you guys know right now that the pound looks great for shorts but
there's just not a lot of setups that are in play as we are looking right now
usd cad the past week the banks got rid of 3 800 longs and they also got rid of 6 700 short
positions which leaves them 55 short on usd cad if you are going to get along you could target 1.29
short i would target 1.26528 before this daily area of supply of demand
you could be looking for one hour confirmation
in this daily area of demand on on usd cad i think that that's completely fine or what you could be
doing is wait for a four-hour trend to take place if you come to a four-hour chart here i think we
talked about this last week where i said i would at least wait for the breakout of this range
before getting involved and as you can see we did break out of this range right here but ultimately
price came right back down so it was clearly some sort of fake out above this resistance area
so what i would do now is simply just wait for clear zones on the lower time frames to take place
uh before possibly getting in long if you come down here to a one hour chart there is a one hour
area of demand right here not a huge fan of this type of zone but you could look for a five minute
momentum shift in here maybe grab a quick little day trade coming out of there but ultimately i
probably would be taking profits uh somewhat early if you are going to be doing that in usd cad but
you know overall not a lot of setups taking place here i would at least wait for a one-hour trend to
get in long or like i said look for confirmation uh coming off of that one hour area of demand
all right aussie us dollar the past week the banks got rid of 139 long contracts and they also got
rid of 2 700 short contracts which leaves them 89 short on usd or on aussie us dollar you're going
to get in long i would target right above this daily supply at 0.73 short i will target 0.705
you could be looking for a four hour confirmation coming off of this daily area of supply and if you
come here we actually kind of got it right here and price is in this four hour area of supply
right now as you can see we reacted very nicely off of this four hour supply with this red candle
right here but then all of a sudden boom price pushed right back up and this this is live as i'm
recording this and price is moving so if anything you could be coming down to a 15-minute chart and
looking for confirmation and you know what that's going to look like is it's going to be something
like this right here so we have this trend line not really reacting very nice off the trend line
so the trend line's actually not a great example but if we make a new high up up here we can draw
the trend line like this not yet though we need to wait for this high to be removed right here then
we can draw that trend line until then if we see a nice push down like this on the 15 minute chart
get a zone right here you could possibly look to get in short on that zone to the
short side and you'd essentially be refining a four-hour zone down to a 15-minute chart
so decent little opportunity here on the aussie dollar that's pretty much all that i see right now
as far as short trades if you are going to want to get in long i would at least wait for this
for four hour area of supply to be removed and even better for that high to be removed so you'll
have an overall uptrend on the four hour chart before getting in long on the lower time frames
all right usd chf the past week the banks added 1400 longs and they also added 133 shorts which
leaves them 80 long usd swiss this pair just sucks lately there's no trend here in the daily
like i said last week longs i would target 0.93 shorts out target 0.916 there's really nothing
to be going off of here the only thing i really see is on this four hour chart right here you
could be looking for a little 15-minute shift of momentum coming off of this area if that happens
um if anything we have kind of a four-hour uptrend right now that i'm actually going
to mark as an uptrend for the patreon youtube members um so we have a four hour up trend you
could be day trading 15 minute charts five minute charts we had a one hour zone react off of here
um and i drew that before the fact so right now you could either just be waiting for this high to
be removed and then be day trading set and forgets on a five minute chart or a 15 minute chart
or like i said wait for that bigger pullback down to this four hour area of demand and be getting
in long down there on a 15 minute chart those are really the only two options i see here on the usd
swiss i would not be entering on a one-hour chart or a four-hour chart and if you don't
really know why i'm saying that leave it leave me a comment down below and i will get back to you
all right last but not least crude oil the past week the banks got rid of 16
700 long contracts and they also got rid of 7 600 shorts but it still leaves them
81 percent long on oil as you can see with all the russia ukraine stuff we had this massive
spike up it was an emotional spike and price kind of came back to the mean here
so if you are going to get in long i would still have the same target essentially as last week at
about a hundred dollars a barrel short i would target 90. looking at the daily chart there's no
untested zone here if you're if you like to trade at tested zones that's fine you could be looking
for one hour confirmation coming off of that daily area of demand there or you could be day trading
to the uh to the long side and the lower time frames as you can see we just had this four hour
supply removed which has left us with this four hour area sorry four hour demand was removed left
that's was with this four hour area of supply so i would not be getting long on the lower time frames
until we broke this but there's actually a little four hour zone right here so you could be looking
for a 15-minute shift in momentum coming off of this four-hour zone so let's go down to a
15-minute chart and we kind of had a nice little trend line right here like this for confirmation
and we actually broke that trend line which left us with a few little zones
here but nothing really quality so there really isn't too much to go off of here but ultimately
this downward momentum has kind of been broken so it might be a decent time to be looking for
longs on oil or you could wait for this four hour supply to be removed and then get in long
once that's removed but it would have to be on a 15 minute chart or a one or a five minute chart
or a one minute chart but ultimately i think oil is going much much higher especially with
all this news that's coming out and i was been saying this for a while if oil does pull back
uh really you know aggressively we're probably just going to go to this weekly
supply and rally from here or down here but we can talk about that in next week's forecast or
and we'll see what happens this week 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