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
cot report the past week the banks got rid of 2975 long contracts and they also got rid of 4
100 short positions and if you do want this carport spreadsheet is available on patreon
Lifetime access now looking at the weekly chart of the US dollar here we've been talking about
in the last couple forecasts how strong the US dollar has been and now we have pulled back to
weekly demand although it's the this demand is it looks all right um but the problem with it
is that it pulled back so quickly and as you can see we pretty much reacted off of it right
now so I would say in my opinion that we have a weekly uptrend with weekly demand and control
on the US dollar so in my opinion I think it's safe to be buying the US dollar still the only
problem is that on the daily chart we have lost a little bit of momentum so in my opinion it is much
safer to wait for this Supply and this High to be broken like this where we then will have that
daily uptrend continuing and that will basically be confirmation that the weekly trend is going to
continue until then it's a little risky buying the US dollar because since this daily supply
has removed this daily uptrend then we could definitely see a reaction off of that Supply so
I think it's best to actually just wait for this Supply to be removed and then if we're left with
daily Demand right here then when price pulls back to that daily demand that is where we could start
to look to buy the US dollar pairs all right on to the Euro US dollar the past week the banks got rid
of 9345 long positions and they also got rid of 19 230 short positions now if you look at the daily
chart here or sorry let's look at the weekly chart first we clearly reacted off of weekly demand and
we did break one of my daily Supply zones but if you look we reacted perfectly off of my secondary
daily Supply Zone just perfectly so hopefully you guys caught a trade-off of that based on
last week's forecast and remember if you do want my daily Supply zones or all of my Supply zones
and all of my time for frames I got the tier one YouTube patreon membership where you can get my
zones on a daily basis my daily Charter analysis for only five dollars CAD per month so now that
we are reacting off of daily Supply it's a little bit of a confusing time uh for the Euro based on
what I said on the US dollar it's a little risky to just be shorting the Euro right now based on
weekly demand being in control I would rather see if you come over to the four hour chart I would
rather see this four hour demand Zone removed first like this and then if we have a four hour
supplies on right there you could definitely look for confirmation coming off of that four hour
supplies on like that but at the end of the day we still have a weekly downtrend with the daily
not quite downtrending but the momentum is down so in my opinion shorts are probably the best option
right now on the Euro based on what I said but if you remember my US dollar analysis I said it
might be best to wait for that US dollar supplies on the daily chart to be removed first so it might
be best to wait for that but at the end of the day we do have some four hour Supply zones and one
hour Supply zones and possibly a new four hours Supply Zone if we get this for our demand Zone
removed that we could look to potentially short on the Euro here just remember weekly demand is
in control but weekly downtrend is a downtrend so it's kind of a confusing time but at the end of
the day we probably just want to continue to trade with the higher time frame downtrends all right on
to xau USD gold forecast the past week the banks added 810 long contracts and they got rid of 27
000 short contracts now if you look if you remember from last week's forecast I said
I did get in Long at this daily demand down here that was inside this weekly demand that was inside
a three-month area of demand and as you can see the trade has worked out beautifully right now
my stop loss is currently at break even right underneath this daily Supply Zone and as you
can see now we are clearly reacting off of this daily downward trend line and in my opinion it's
looking kind of weak right now but I do suspect gold to either if you come if I zoom in on the
daily chart here I do suspect gold to do something like this where we pull back to this daily demand
and then we rally up from there and right here I'll be looking to add to my position with a one
hour confirmation trade on the lower time frame to the upside so that is what I'm waiting for
here on gold yes we could technically be shorting right now to this daily Supply Zone to continue to
trade with that downward weekly Trend or sorry the downward daily Trend but at the same time
it's a little bit risky based on weekly demand and three month demand being in control so a
little bit of a confusing time here on gold but at the end of the day we are getting a shift of
momentum especially since we are reacting off three month demand I do suspect gold can rally
now whether or not we just start to base out here and then explode to the upside like that
or we react off this daily Supply daily demand and then move up we will just have to wait and
see now it is also very possible that something like this takes place and we continue with the
downward Trend and if that does take place that's all fine because if there's daily Supply there I
would look to potentially trade that daily supply to the downside because at that point it'll prove
to us that the daily moment bottom break that we are seeing is no longer valid so that is what I'm
going to be waiting for here on gold it's just a little risky to short based on weekly demand
being in control so like I said confusing time in the markets right now we just need to be looking
for confirmation whether we are looking for shorts or Longs all right on to USD JPY forecast the past
week the banks added 3 300 long positions and they added 4 200 Short positions now if you remember
the last many many forecasts I've been talking about how strong the USD JPY is with weekly and
daily downtrends being consistent we did react off of daily demand but on the lower time frame
charts over here you can clearly see we did lose momentum and now we are actually reacting off of
this four hour demand so to keep it very simple on the USD yet we have a weekly uptrend we have
a daily uptrend but the four hour is sideways so in my opinion the best thing to do is to wait for
this four hour Supply to be removed and any four hour demand like that we could use that for our
demand for a confirmation trade or we could look to set forget trade lower time frames like day
trading time frames like a one minute five minute or even a 50 minute chart as soon as we remove
this High because then at that point we will have a four hour uptrend again proving to us that the
weekly uh uptrend will be continued because how does a weekly uptrend end a weekly uptrend ends
with four hour downtrends beginning so we need to see evidence that this four hour chart is going to
continue its Trend to the upside now let's say we don't break this four hour Supply and it starts to
push lower on the USD Yen well that's fine because in my opinion we will probably end up pushing down
to this weekly demand all right on to the GBP USD forecast the past week the banks got rid of
17 753 Longs and they also got rid of 14 638 short positions remember you do have a weekly downtrend
still but if you look at the daily chart here we have clearly lost a little bit of daily momentum
to the downside by removing this daily Supply and what we are left with is a daily demand Zone this
demand zone is not fantastic but who knows since we do have a shift in Daily momentum to the upside
this daily demand could be responsible for pushing price up higher now it's not looking great as we
are testing it very deeply so if we do not break this Zone within the next hour next week you could
be looking for a one hour confirmation coming off of this daily demand to the upside it's a
little bit risky and if you don't know what confirmation trading is check out the tier 2
membership links in the description down below I have a full video series on confirmation trading
where it breaks down exactly what I would look for for confirmation and there's many more other
things included in that membership so I'd be happy to see you guys join the team so you
can look for confirmation coming off that daily demand but let's say this daily demand breaks
and we are left with daily Supply well since we have it overall weekly downtrend what you
could be doing is looking for a confirmation trade coming off of that daily Supply if that does take
place and remember I will have that out on the charts from the members as well so that's what
I'm waiting for here on the pound I'm waiting to see what happens at this daily demand I don't feel
comfortable going in long so I personally won't be looking for confirmation in that daily Supply
zone or daily demand zone so I'll just be waiting to see what happens and your confirmation to the
long side is going to look something like this on the one hour chart where we remove this one hour
Supply Zone and this downward trend line leaving us with hopefully one hour demand where we could
look to potentially get in long so that's what I would be waiting for for confirmation on the pound
um like I said I'm not doing that personally because of the weekly downtrend so what I'm
waiting for is I'm waiting for this daily Supply to be removed first before I start to look for
shorts to continue to trade with that overall weekly downtrend all right looking at the USD
CAD forecast the past week the banks added 6310 long contracts and they also added 2569 short
contracts now we did pull back into this weekly demand and a weekly uptrend so in my opinion Longs
are fine we would probably need to see this one hour Supply Zone removed first and if we're left
with one hour demand you could definitely look for a confirmation trade coming off of that one
hour demand but if we start to see the four hours start to Trend down even more where I think we
are headed is to this weekly demand down here at about 1.31 where we could look for an even
better dip buying confirmation trade coming off that Weekly demand so that is what I think is
possible but on the on the USD cab but at the end of the day we have daily demand and control with a
one hour uptrend and a weekly daily uptrend so so Longs are fine just on the day trading time
frames we just want to see this one hour Supply Zone removed first but with that being said it's
Longs all the way unless we can start to see a four hour downtrend and then I think shorting
lower time frames is definitely okay all right on to the Aussie US dollar the past week the banks
got rid of 2758 long contracts and they also got rid of 9647 short contracts now remember we have
a weekly downtrend and a daily downtrend that is very important and last week's forecast if
you did watch it if not I highly recommend to go back and watch that forecast after this forecast
is over so just so you can see the accuracy of supply and demand so if you remember from last
week's forecast I talked about how basically price was up here we didn't react off this four hour
Demand yet and I said I wouldn't even be shorting the Aussie US dollar until we can get this four
hour demand removed and look at how powerful that is we reacted perfectly off the four hour demand
Zone sure we didn't go to the Moon but we reacted off of it so if you're shorting right here you
would have been stopped out that is why it's very very important to understand multiple time frame
analysis and the power of supply and demand now we are breaking this for our demand Zone which
makes which means that we have a four hour Supply or we have a four hour downtrend again now I'm not
going to remove this for our demand Zone yet but it looks to me like the supply that removed it is
going to be right there so I'm going to pre-draw this out right now as removed and we'll leave
it at that so with that being said we now have a four hour downtrend and one hour downtrend daily
and a weekly downtrend so my opinion it shorts all the way so as far as trading setups go you
need to be looking for trades on the lower time frames so that being said if price pulls to this
four hour Supply Zone you could look for 50-minute confirmation coming off of that four hour Supply
zone or if we get new four-hour Supply zones right here you could look to do the same thing there or
you could look to trade one hour Supply zones like that as well if we get new ones formed along the
way so not going to complicate it much more than that there's really no need to we have down Trends
on all four time frames so it shorts all the way until we can see a shift of momentum on the four
hour chart as well as an upward Trend and at that point then I think looking for Longs is better but
for now downtrends on all four time frames so it's shorts all the way just need to wait for
Quality Supply zones in the four hour and the one hour chart to be hit and then we can look to trade
short all right on to the USD CHF the Swiss franc Frank the past week the banks added 1257 long
positions and they added 135 short positions now this chart is looking pretty weird as I've
been talking about the last couple forecasts I hate the price action on the weekly chart but we
do have a weekly uptrend and a daily uptrend the problem with just buying though is the idea that
we are in Daily Supply right here and yes although this little sequence right here of price action
is trending up if you look at the overall picture right here we are clearly just going sideways and
I personally hate trading in a sideways market so as far as shorts go yes we are in Daily Supply you
could technically look for shorts but I wouldn't do that until we can get a significant four hour
momentum shift on the four hour chart so for longs to keep it simple I would wait for this range to
be broken first to the upside so something like this and if we're left with daily demand you can
look to trade that daily demand zone so as far as shorts go I'm not loving it I would need to
see basically a pretty much a four hour downtrend like this in order to get in short but then shorts
would have to be on a lower time frame so the USD Swiss not looking great right now it's definitely
not on my watch list I I mean I tracked the zones on a daily basis for myself and for the members
but it's definitely not on my trading watch list based on how weird this price action is
um you know on the weekly in the daily chart it's just very very indecisive in my opinion so with
that being said I'm just not very interested in trading it so I'm I'm personally going to
be skipping it this week but remember we are in Daily Supply we would just need to see that daily
supplier move first before getting in long and I think Longs are the highest odds thing to do based
on the weekly momentum being up although this recent price action is pretty crummy in my opinion
all right last but not least we are on to crude oil the past week the banks got rid of 2 200
long positions and they got rid of 18 157 short positions the last couple forecasts I talked about
how I was looking to get in Long on oil around 79.77 a barrel and as you can see we are currently
pushing up so that is the power of supplying a man but I didn't say I was just going to be
getting in long I talked about how I needed to see a significant shift of momentum on the daily chart
and we are getting that right now we removed not one but two daily Supply zones so with that being
said if we pull back to this daily demand I will be looking for a one-hour confirmation
trade coming off of that daily demand but what another possibility is is we break this daily
Supply Zone like this leaving us with daily demand and then we could look to trade that daily demand
so in my opinion it's all about either getting a pullback to this daily demand or removing this
daily Supply with new daily demand and pulling back to that daily demand so that is what I'm
waiting for on crude oil I think shorting right now is definitely not a great option although yes
you know we are pulling into daily Supply we could definitely react off of that but based
on my macro time frame analysis we are inside three month Demand right now and that is why we
are pushing up to the upside that is solely why that is solely the reason in my opinion so with
that being said I'm waiting for confirmation Longs once we can get a pullback on oil or once we can
break that daily Supply and my targets would be to about 104 105 dollars a barrel at this weekly
Supply zone or even the all-time highs because I do believe oil is going to be going much much
higher just need to wait for you know confirmation trades to the long side inside of daily demand
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