what's going on traders welcome to this week's forex forecast if you're new to my channel hit
that subscribe button and don't forget to check out the patreon or the youtube membership for
my daily chart analysis i hope to see you there all right starting things off with the us dollar
car report the past week the banks added 2 900 longs and they also added 1689 short positions
on the us dollar looking at the daily chart here it's looking very strong in the dollar i would
not be shorting the us dollar right now yes you know it's very possible that we do see the dollar
you know come down but ultimately it's looking you know very very strong right now if you look at a
weekly chart i was telling the tier two members in the private discord group that if you look here
you can clearly you know see that the us dollar pushed through this weekly area of supply i warned
members that we could be seeing the us dollar turn here but price actually just wicked through it so
yes we could see the dollar turn around like this but ultimately the strength is very strong in any
dip buying opportunity on the us dollar should be used as that which is a dip buying opportunity
all right on to euro usd and really quick if you guys do want to get my supply and demand zones
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so first looking at the euro car report here the banks added 1990 longs and they also added 11 000
short positions now if you come to this daily chart here comparing it to the us dollar is
somewhat different we are sitting inside of this daily area of demand right here and if you look
at a weekly chart well first if you do want to get in long i would target right before this
daily supply at about 1.074 short i would target about 1.045 or a little bit lower at
like 1.04 that's pretty much it here on the euro but we are sitting in this demand so i'd be very
very cautious getting in short on the euro as of now and if you look at a weekly chart here
we are clearly wicking right off of this weekly zone that i have drawn for the members
so be very very careful right now we could see the euro push up a little bit but ultimately
i would continue to trade with this downward weekly trend and this downward daily trend so
now let's look at a few potential setups if you come to a one-hour chart here
you can see we reacted very nicely off of this one-hour area of demand right here
so that would have been a nice little opportunity for a little day trade but even though i don't
really recommend taking any uh short trades against the trend like that but as far as
setups goes for this week the only thing i see are a few four-hour supply zones right here
so if you look what i would you know recommend nothing is financial advice but if you want
to get in short on the euro i would at least wait for this four-hour supply zone to be hit
and look for that 15-minute confirmation coming off of there or this one as well so basically two
trading opportunities here in the euro uh just gonna have to be patient and wait for that dip
buying operat or sorry dip shorting opportunity in this case all right on to gold the past week
the banks got rid of 20 000 long positions and they added about 1500 short positions
we broke this low and now we have that downward trend line on gold here coming off the daily chart
i shout out to members to be careful for this supply zone right here look at the move we saw
from there so now we're going much lower on gold if you do want to get in long i would target 1940
short i would target about 1870 but i wanted to show you guys the weekly chart here in gold and
i think that this is very important so i would definitely pay attention to this we had a pretty
significant weekly area of demand right in this area right here and we reacted off of it a few
times pushed up but we couldn't break above it so now we just just broke this weekly area of demand
so i do think gold it's very possible gold could head back down to 1800s or we could see a fake out
to the downside and then that push up on gold but ultimately it's looking pretty weak after
we break that weekly area of demand so not really a hundred percent sure what to do here
on gold to be completely honest if you do want to get in long i would at least wait for this
four hour supply zone to be removed first before getting involved to the long side if you do want
to get in short yes you know you could be looking for that 15-minute confirmation coming off of this
a four-hour supply zone other than that i really don't recommend trading this pair right now
it's really difficult to be trading when we have a weekly sideways market and a daily downtrend
it's it's things can get all out of whack if you do want to get in short as well
there is a little one-hour supply zone right here you could look for five-minute confirmation
coming off of that zone i think that that would be completely okay other than that i would just kind
of sit on the sidelines and wait for these lower time frame trends to continue because right now
yes we do have a daily downtrend but if you look at a four hour chart the down it's it's
sideways and the one hour sideways as well so i would wait for those trends to continue first
and if we get those trends to continue if we break this low here on the four hour chart
well then if you come to a weekly chart then you'll have tons of profit margin to potentially
hop on to the short side down to about 1800 so i think being patient this week is definitely going
to pay off on gold since it's kind of hard it's difficult to tell what's going to happen right now
all right on to usd japanese yeah in the past week the banks got rid of 10 000 long positions
and they added 1546 short positions looking at a daily chart here we have new demand formed right
here on the daily chart like this so if you do want it to get in long you could either wait for
that dip buying opportunity inside of this daily area of demand and then target 132. if you want
to get in short i would target right before this daily demand at about 129 or maybe a little bit
sooner than that so if you come to a weekly chart here you can see if you just look at the
overall picture on the weekly daily four hour one hour chart things are looking very very bullish
here on the usdn is price overextended yes it definitely is could we see a pullback to this
weekly area of demand here absolutely but at the end of the day i would not be doing that
until we get evidence on the lower time frames that price will be pushing lower then we could
be trading short down to here and then be dip buying in this weekly area of demand
so until that happens i would just continue to trade with this trend you know what i mean
if you come to a four-hour chart there are a few setups here this zone i'm not a fan of it's
right around this trend line so if you do want to get involved to the long side down this area
at about 128.23 i would definitely recommend only looking for a 15-minute confirmation
coming off of that zone instead of just set and forget trading to the long side other than
that if you do want to get it long i would just wait for this one hour trend to continue back up
and then you could be set and forget trading to the long side or at least wait for this one
hour supply zone to be removed before hopping in long so usdn looking still bullish i don't
really recommend shorting if you do really want to short the usdn and down to this weekly demand zone
what i would wait for is to keep it very simple for you guys i would wait for this to happen where
we break this upward trend line these uh demand zones and then i would wait for that pullback
up to the supply zone and then get in short down to this weekly demand zone down below but until
that happens i do not recommend shorting and i would just continue to trade with the weekly and
daily uptrend all right gbp usd the past week the banks added 3 600 longs and they also added
14 000 short positions and from and remember if you guys are enjoying this video i'd really
appreciate a thumbs up and subscribe if you are new so looking at the british pound here we have
that daily downtrend and a weekly downtrend so i would like to like the other pairs i would just
continue to trade with this trend we have a daily down trend so if you do want to get in long which
i don't really recommend it would be 1.26 would be my target to the short side it would be 1.24
so as far as setups go let's take a look at the lower time frames for potential setups
here to come to a four hour chart that really the only zone that i see that's it's viable is this
four hour supply zone right here so you could wait for that pullback to this zone or to this zone
and then look for 15-minute confirmation coming off of those supply zones that's really all i see
right now if you don't want to wait for that pullback and price starts to push down lower
i would wait to short until that happens where we break this supply zone and we make a new low
here then you can start to trade the pullbacks to the upside until that happens i do not really
recommend trading this pair right now you know who knows we could be seeing a huge pullback
because price is overextended up to this zone up here but ultimately i would just continue to
trade with that trend if you look at the overall structure on the weekly chart and the daily chart
price is clearly going down so yes although if you come to a one hour chart and on the
one minute and five minute and 15 minute time frames it's looking pretty bullish but if you
zoom out look at the higher time frames the trend is still to the downside and the trend is your
friend till the bend at the end i'm sorry for all the wordplay but uh give a thumbs up for that one
if you guys are listening um so i would just continue to trade with the trend and just wait
for those pullbacks or wait for new supply zones to be formed all right usd cad forecast the past
week the banks added 5000 longs and they also added 4 700 short positions we are sitting in
daily supply right now on the usd cad if you do want to get in long i would target about 1.29
short i would target about 1.27 so yes we are sitting inside this daily supply right now if
you come to a weekly chart we are also sitting in weekly supply but to me this looks like it's
going to just absolutely punish this weekly supply zone and end up breaking through it's all going to
depend on the us dollar as well so definitely keep that in mind as far as setups go i don't
really see too much let's go down to the lower time frames and look if we can't see anything
if you're looking to get along this was a great opportunity i had this zone marked out for the
youtube and patreon members here so you could have got a confirmation not trade off of that
if you didn't it's all good there will probably be more opportunities in this pair coming up
if you do want to get along for send forget entries i would wait for that high
to be removed first and then i would start to look for long opportunities
if you want to get along sooner though if you come to a one-hour chart here this is a little bit of a
risky setup but you could definitely wait for if you like to day trade you could wait for this one
hour zone to be hit and then go down to a five minute time frame or a one minute time frame
and look for confirmation coming off of here and trade to the upside that's really the only two
setups that i see here on usd cad but ultimately going long in weekly and daily supply not the
highest odds the reason i'm saying it's possible is because the trend looks very very strong right
now and if you do want to get in short for all you guys i want to be shorting this i would at
least just wait for this four hour supply to be removed and why why would it why would you wait
for that supply to be removed well because this is a zone that has showed massive significance look
at the move away from this zone so you'd want this zone to be removed first leaving us with
a supply zone that we can then short but until that i would not recommend shorting this pair
all right aussie us dollar the past week the banks added 7 900 longs and they also added
6 700 short positions look at a daily chart here if you do want to get in long i would
target about 0.73 or maybe a little bit earlier to the short side i would target only about 0.70
hopefully we can get a nice pullback to this daily supply where that would be a great shorting
opportunity but that's pretty far away and i know a lot of you guys are looking to be day trading so
i'll hop down to the lower time frames to see what the situation is like now i talked about
how this was a little dip buying opportunity on the aussie ended up not working but it's all
good now we just can continue to trade with the trend there's no weekly trend or daily trends so
any trading opportunities would have to be on the lower time frames to the short side
yes we are sitting in this four hour area of demand here but it's tested so i would just be
looking for shorting opportunities now if we get a removal of this zone right here we could be left
with a supply zone right here where you could look for a short trade coming off of that zone
like i said earlier if you want that zone check out the youtube or patreon membership it's only
five dollars cap per month and these zones are extremely accurate um so i would definitely just
wait for that to occur first or what i see right now and i'm not in love with the zone like this
but you could just wait for this price to come up to this one hour supply zone look for five
minute confirmation coming off of that but i'm not a huge fan of this zone it's very obvious
um so that's why i recommend only looking for a confirmation in there or if we continue to just
move down from here and there's a new one-hour supply zone i'll have that out for the members
or you can draw it yourself and you can look for five-minute confirmation coming off of there usd
chf forecast the past week the banks added 2 900 long positions and they also added 1555
short positions hopefully we can get a nice pullback to this area of daily demand
if you do want to get in long i would target 0.98 short i would target about 0.965 so if you come
to the higher time frames like the weekly chart here you can see that price has clearly broken
out here so it's looking very strong yes it's over extended so that is why i would just be waiting to
buy pullbacks on the lower time frames there's a few little potential setups here if you look at
a four hour chart here you can clearly tell that this is a nice little four hour demand zone where
you could be looking for 15 minute confirmation and i know i've mentioned confirmation a lot in
this video if you don't know what that is check out my tips playlist link is in the description
i have a few confirmation videos that are quite popular so i could definitely help you out and
know what i'm talking about that's a nice little dip buying opportunity right there on the aussie
or sorry on the usd swiss or if you come to a one-hour chart there's a one-hour zone here
as well but this one-hour zone right here is actually embedded within that uh that
four-hour area of demand as well so that's pretty much all i really see here on this pair as far as
trade setups goes just gonna have to be a little bit patient this week and wait for that dip buying
opportunity because price is over extended and we could see it come down like i said that four hour
area of demand is really all i could recommend as of now last but not least we have crude oil the
past week the banks added 2 000 long positions and they got rid of 6 300 shore positions oil
didn't really do too much last week we are still sitting between supply and demand
if you want to get in long i would target 120 short i would target about 95 or 96 dollars a
barrel so since we're coming off of daily demand you could be looking for long trades so what i've
noticed right away and i'm going to keep this forecast for oil extremely simple there is a
four hour confirmation zone right here you could wait for 15 minute confirmation coming off of this
four hour area of demand right here and i think that that would be completely fine that's pretty
much all i see here on the on the oil chart as far as setups go yes we are reacting off of this
uh four hour area of supply but i don't i wouldn't have recommended even though we saw a huge move
down i wouldn't have recommended to be taking that to that trade based on the idea that we are coming
off of daily demand so i would just wait for this four hour demand zone to be hit and i would go
from there look for a potential long setup and like i said you could be targeting almost 120
dollars a barrel and you could be taking profits along the way there's a lot of profit margin to
the long side looking at this daily chart so i think it's just a slam dunk uh potential
buying opportunity but i would not just take this zone you know with uh you know with an entry here
oops in a stop loss below like that i would be looking for confirmation coming off of
that zone and that's about it 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