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 banks added 1400 longs and they also added 103 short
positions looking at the daily chart here on the us dollar we are still stuck between demand and
supply this has been ranging on the daily chart now since back in at the beginning of march so
it's even more of an indication that buyers and sellers are struggling to decide you know which
one takes over if we look at a weekly chart here we are still reacting off of this weekly area of
supply right here so until this daily area of demand or supply is removed we will not know
where price is headed i've been talking about this uh in the last few forex forecasts where
if demand gets broken like this it's most likely we'll be going down and if supply gets broken it's
most likely we'll be going up and be breaking that weekly supply so still just waiting on this daily
chart on the dxy to give the ultimate decision of where what direction the us dollar is headed in
all right so it's the beginning of april and that is the best time to sign up for the patreon
membership if you were looking to sign up and get my supply and demand zones on a regular basis
that way you can get the whole month of april uh for your money or you can always sign up for the
youtube membership as well and your payments could be whenever the day you signed up so definitely
check out the youtube or patreon membership if you want to use my zones throughout the
week on a daily basis a lot of members are using them and having a great time taking confirmation
trades and setting forget trades off of my zones so anyways on to the euro the past week the banks
got rid of 7 000 longs and they got rid of 4 500 short positions looking at the daily chart here
of the euro we are still kind of ranging here we almost made it to this daily area of supply
but we did not but we can safely say that daily supply is somewhat in control right now so if you
want to get in long which i don't really recommend i would target either this daily supply at 1.12 or
a little bit higher at 1.12 516. if you want to go short i would target maybe around 1.085 so looking
at a four hour chart but first keep in mind that the weekly trend is down on the euro same with the
daily trend so all trades essentially should be to the short side if you look at a four hour chart
here we have a pretty significant uh four hour area of demand right here now you could use this
zone for a 15 minute or five minute confirmation i think that that's fine but profits should be taken
somewhat early i would look to aggressively bump your stop-loss up if you do get in
on a confirmation trade from this four-hour area of demand you might be asking why well here's the
reason like i just said we have a weekly downtrend daily downtrend right so this four hour uptrend
we're seeing right now on the euro could simply just be a retracement for that big push down and
in last week's forecast i talked about how it's possible we see a move up and then a push down
so definitely go check out last week's forecast for that reason so like i said if you do want to
get along profits should be taken early and i'd be very careful getting along in this area but it is
a significant buying area where you could look for a quick little one to one maybe even a two
to one confirmation trade inside of there if you do want to get in short i i would highly suggest
waiting for that four hour supply to be removed maybe there will be a four hour or sorry four
hour demand to be removed hopefully leaving a four hour area of supply where we can look to
get involved to the short side and continue to trade with that weekly and daily downtrend
all right looking at gold and in last week's forecast i talked about how it might be best to
wait for this supply to be removed before getting in long on gold and little do we know that that
prediction actually was pretty accurate where this four hour supply actually held and we broke
down even further so that's why i think it's very important to actually pay attention to my forecast
and listen to what i'm saying because i think it's very relevant and this could have saved
you from getting in long on gold so hopefully you guys listen to that and hopefully we can actually
get a trade-in on gold soon so looking at the call reports here we have the banks they got rid of a
thousand long positions and they got rid of 10 592 short positions if we come over to a daily chart
on gold we're kind of just ranging out here we haven't fully contacted this daily area of supply
just yet if you do want to get in long i would target about two thousand and twenty dollars an
ounce or just before this daily area of supply if you want to get in short i would target 1882
to keep it very simple now i think looking for a one-hour confirmation in here would be fine if we
get to that daily area of supply but i'm just not seeing a lot of setups and we are in fact still in
this weekly area of demand so the thing to keep in mind if you aren't familiar with supply and demand
weekly demand is stronger than any daily supply or any uh shorter time or smaller time frame areas of
selling so weekly demands in control and that's a very strong area of weekly demand as well
so i'm still going to be looking for you know long positions i didn't really see
any quality setups here at all so what i'm actually going to be doing is waiting for
this supply to be taken out hopefully leaving a four hour demand zone right here we can look
to get involved in but until that happens i have no interest in trading gold right now
it's just not really looking that great on the lower time frames you know yes we are in
weekly demand like i said let me draw that out right here so we are in weekly demand but buyers
haven't really picked it up and showed that they want to move price higher right they got rid of
this zone but then remember last week i said wait for that zone to be removed and it couldn't happen
so sellers are still technically in control in the lower time frames we just need to see
that significant shift in momentum to the long side before hopping in long on gold and like i
said i don't really recommend shorting gold right now based on weekly demand being in control but
if you do make sure that it's a quality setup and make sure to take profits somewhat early
usd jpy the past week the banks added 2 200 long positions and they got rid of 21 000
short positions daily momentum is clearly still up if you do want to get along i would target 1.25
short i would target about 120. now we have seen usd yen react to the downside in the past week
why is that well it's because of this weekly area of supply that i've had drawn out for
quite a long time for youtube and patreon members and i guess for you guys as well
so you can clearly see it price wicked right into our supply zone and bounce away but we still
have a weekly trend and this trend this trend is extremely strong so i would still be looking for
buying opportunities even though we are in that weekly area of supply now the best indication that
price will be going higher is if we actually get this four hour area of supply removed like this so
i would at least wait for something like this possibly leaving a demand zone right here and
then we can look to get involved on a four hour zone like that if that happens or you could just
wait for you know a simple four hour uptrend like this and look to day trade the lower time frames
um but until then i really don't see any possible setups if you come down to a one hour chart
we did have that one hour downtrend and there were a few zones that worked like this one
hour supply zone worked pretty well at first but ultimately momentum did end up shifting
so we do have a little one-hour zone right here but i don't really recommend doing that
like i said i think all decisions should be made around that four hour chart and waiting for that
four hour supply to be taken out before placing a long entry and you know as far as short entries go
yes we are in you know higher time frame like weekly supply but the weekly trend is
so strong i do not feel like trading against that trend and i think that would be a mistake
if you guys are enjoying this video and find this video helpful make sure to like
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anyways looking at the car report for the british pound gbp usd the past week the banks got rid of
2100 longs and they added 697 short contracts if you do want to get in long i would target before
this daily supply right here at about 1.33 to the short out i would target right around 1.3 i think
is fair so we do have that daily downtrend still i think looking for one hour supply
confirmation in this daily supply is a good idea we just haven't been able to get up there just
yet keep in mind we do have that weekly downtrend on the british pound so trades should be to the
short side of my opinion yes you know you will get these up moves on the lower time frames like this
on a one-hour chart but it's higher odds to be trading with that weekly downtrend and the daily
downtrend as well so right now i'm actually not seeing a whole lot of setups on the british pound
since i don't really recommend getting in long i can't really say that there's any quality supply
levels or sorry demand levels here but if we do get a break of this four hour zone right here and
get a zone right here i think that four hour zone will be decent to possibly look for a 15 minute or
a five minute shorting confirmation entry like that now there is a one hour supply zone right
here you could look for five minute confirmation in here but this is not really a high odd setup in
my opinion based on there being not really a trend i guess there is some sort of downtrend in the one
hour but on the four hour there really isn't a trend and price is just going sideways so i'd be
very careful trading this one right now i think we just need to wait for price to go a little
bit lower before getting in a short position and like i said as far as longs go i don't see any
setups at all and you'd be trading against that higher time frame trend which i do not recommend
all right on to usd cad the past week the banks got rid of 290 long contracts and they added 3
100 short contracts and remember this this carport spreadsheet is available on patreon if you sign
up for a yearly membership so we are reacting off daily demand here on the usd cad if you do
want to get along i would target just about 1.26 short i would target about 1.24 so not a lot of
trading decisions should be based on this daily chart based on there being no trend
even the four hour chart is looking very strange so this is actually a pair where you know i'm not
even really going to go over it that much there's just not much going on here it's very difficult
to make any trading decisions yes we do have that one hour uptrend on usd cad but the problem with
that is the overall picture is looking very very weak on usd cad so just not very any clear trading
decisions here and on my youtube channel i'm not like a lot of the other youtubers where i'm always
going to say there's a setup just to please you guys i'm being completely honest i do not
see any setups here and usd cad is certainly not on my watch list to be trading this week
aud usd the aussie dollar the past week the institutions added 10 213 long contracts and
they also added 8 600 short positions if you do want to get in long i would target 0.765
short i would target before this daily area of demand at 0.743 now this is a pair that
is definitely on my watch list i'm actually going to market green right now so i am to put it very
simple i think i've talked about this in the last forecast i am waiting for this daily demand to be
hit where i will look for one hour confirmation now why am i looking at getting along at this
daily area of demand specifically well we have that beautiful daily uptrend that's one thing
if you look at a weekly chart we've clearly lost momentum on the weekly time frame here
where we are actually getting a new area of demand of demand formed right here it's not
the best area of demand but it is you know very large area but this weekly downtrend has shifted
plus we have that daily uptrend so i'll be looking for that one hour confirmation
that's all i would recommend doing right now on aussie us dollar the only other thing i guess i
could recommend so i guess it's two things is is if looking at this four hour chart if we do get a
continuation of this trend by removing these highs where this uptrend will continue then we could be
looking for set and forget entries on a 15 minute five minute or a one minute chart but until then
i will be waiting for that daily demand to be hit where i will then look for long opportunities and
if you don't know what confirmation or send for get trading is check out my supply and demand
tips playlist video or comment down below and i can answer any one of your questions so either
waiting for that four hour trend to continue or hopefully waiting for that daily demand
to be hit where we can look for a nice little one-hour confirmation trade to the long side
usd chf the swiss franc the past week the banks added 435 longs and they got rid of 2 700
short positions in the last couple forex forecasts i cannot lie i was talking about how i was looking
to get in along at this daily area of demand right here now there were a few setups but i never
really saw anything that great and i'll actually go and show you guys that in a minute now if you
do want to get along i would target before this daily supply is 0.93 short i would target 0.916
now i will be looking for a one-hour confirmation trade coming off of this daily area of supply why
well to me this daily demand was very significant right here and that was actually removed by this
supply so i'll be looking for shorts in that daily area of supply another reason is if you look at a
weekly chart weekly supply is in control it's been tested a few times but weekly supply is in control
and i'm very interested in possibly hopping in short on the usd swiss based on that and in last
week's forecast i talked about how if there was a four hour demand right here that was created
that broke this trend line i would look to get involved in that area and there was a demand
zone here didn't really like the basing here and it to me price moved a little too far away for
me to get involved here so if you got in there i think it's a decent setup but ultimately it
never really ended up working out so now i'll be flipping to short bias so i'm just waiting
for that daily supply to be hit and then i will start to look for that one hour shift in momentum
all right last but not least crude oil the past week the banks got rid of 16 000 long positions
and they added 4 700 short positions we got a nice move up from this daily area of demand on oil but
couldn't really get too far and now we're actually headed back down for a second test
at this daily area of demand so if you do want to get in long i would target about 120 a barrel
if you want to get in short i would basically take profits right inside this daily area of demand
right there and why are we seeing oil pushed down well it's very simple we are reacting off
of this weekly supply again that's why i was suggesting you know maybe buying oil down here
not up here so that is the difference here so if we get that pullback on oil down lower i
think it'd be good for a buying opportunity again on oil since i do believe oil will be
you know most likely going higher so don't really recommend trading this one right now yes we have
trends on the lower time frames where you could be day trading the lower time frames but we are
about to come to this daily area of demand again which is actually a weekly buying area as well
so not too much to see here on oil what i would be looking for for a long opportunity is to hopefully
wait where we can get a cleaner trend line like this where we can have that ability to draw the
trend line and then waiting for that four hour confirmation coming off of that weekly area of
demand down here where we can get in long to the long side i don't really recommend shorting oil
right now if you do i would be looking to do it on the lower time frames and be taking profit
early and why do i say that well because look at the strength of oil here there's absolutely
no evidence of it slowing down yes if you want to just look at this section here it looks weak
but it's always important to look at the bigger picture so any dip buying opportunity should be
used as you know deep buying opportunities so just waiting for oil to come lower and then hopefully
going to find that nice shift of momentum on a four-hour chart to hop in to the long side
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