#1 Weekly Forex Forecast | EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD OIL (31/10/2022) Forex Analysis
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 caught report the past week the banks added 42 along contracts and they also added 2634 short contracts and if you do want that car report spreadsheet links in the description down below so looking at the weekly chart here of the US dollar I talked about how it's most likely we'd be seeing a pullback to this weekly demand and as you can see we are clearly reacting off of the US Dollar weekly demand and that is my opinion why we are starting to see the US dollar rally a little bit because it's very important to understand we have a weekly uptrend with weekly demand in control at the moment in the US dollar so that is why we are seeing the rally up in the US dollar but that does not mean that the US dollar is going to go even higher from here if you look at the daily chart here you can clearly see I talked about this in last week's forecast that we are reacting off of this daily Supply so right now this is the daily Supply that was responsible for push for pushing the dollar down to weekly demand so with that being said as far as the US dollar goes we have to ask ourselves where will it be headed well just because it's in weekly demand doesn't mean it'll be going up I would need to see significant four hour zones removed first uh like this one before we can really start to make trading decisions so if you are looking for a dollar Longs your confirmation long would look something like this where we can remove this four hour Supply Zone which would be four hour confirmation now the problem with that is if you do get in Long you'd have to take profits at about 113 maybe 113.5 uh right before this daily Supply because this clearly was Supply so as far as the US dollar goes if you want to get in long I think it's still definitely fine we just want to see this four hour supplier move first for confirmation shorting the US dollar not the best idea considering we are in a weekly uptrend with weekly demand in play at the moment so both sides I could see the argument for shorting and for going long but shorts I think that day trading the US dollar short is much better um than you know swing Trading long or swinging swing trading short kind of just based on this weekly Trend so hopefully that makes sense if you have any questions about what I just said about the US dollar please do not hesitate to ask in the comments down below all right next we are going to look at the Euro USD forecast the past week the banks added 24 000 long positions and they got rid of 2728 short positions now if you look at the Euro US dollar remember we have a weekly downtrend and we are clearly seeing a rally up in the Euro right now but if you look at a daily chart something very very interesting has happened here uh if we look we had a very clear daily downtrend on the Euro and then we broke this daily Supply right here and this Supply was very significant because we had a reaction off of it right here so we broke that daily Supply and this downward trend line which left us with this daily demand zone now since the euro is in a weekly downtrend and the US dollars in Daily and weekly Demand right now I don't really recommend just buying the Zone with a stop loss down below and hopefully hope and hope that the trade will work out instead what I think that we could be doing here is looking for a one hour confirmation as price comes down and hits this daily demand so if this daily demand gets contacted we should be on a one one hour chart looking for a confirmation trade long if you don't know what confirmation trading is check out my trading tips playlist there are confirmation trading videos in there and also check out the patreon membership if you want my zones on a daily basis for all of the uh pairs that you see on the right check that out links in the description down below there are different types of memberships and I'll be happy to see you guys join the team for my daily chart analysis so if the daily demand does get hit I would be over here on the one hour chart looking for confirmation now if you want to trade short to this daily demand that's definitely fine in my opinion but it would have to be on a one minute chart so I don't even really recommend that so hopefully we can get the pullback down of that daily demand and then we can look for one hour confirmation other than that I really don't see any trading opportunities I don't really feel comfortable shorting the Euro until we can maybe pull back to this weekly Supply that has been tested and then we can look for a four hour confirmation short in there but until then I really don't recommend getting in short because I think it's I think we could definitely see a reaction off this daily demand now remember we do have a weekly downtrend so it does not mean that this daily man will hold forever so if we do get a trade on a one hour chart uh maybe looking at two to one one to one that would be enough profit margin kind of based on that so uh that's pretty much all I have to say on the Euro a little bit confusing uh but at the end of the day when I see a daily confirmation like that we kind of have to use that daily Zone to base our trade-off of if we do get this daily demand removed like that and we don't get the confirmation then at that point I think it's safe to maybe look for shorts inside the daily Supply if we do get that daily Supply Zone remember if you are a YouTuber patreon member you will get all of my zones like this every single day so uh hopefully that makes sense on the Euro US dollar all right on to the gold forecast the past week the banks added 1963 long positions and they also added 10 887 short positions now remember if you've been watching the last couple forecasts I talked about how prices in weekly demand and three months demand and a three-month macro uptrend so that is a very very important factor here in my opinion I think that we could see the end of Gold's uh bear run around this area does not mean we're going to see a rally up uh here from now but I think we could definitely see some something like this take place uh in Gold based on it being in three month demand now as far as trading this pair goes right now I will not deny it it is a little bit confusing in my opinion we have weekly demand and control and three month demanded control but if you look at the daily time frame we did get the confirmation here with the move up but clearly this trend line held and we started to Rally back down so in my opinion I'll keep it very very simple I don't really think we should be shorting gold right now unless it's on a one minute or five minute time frame based on daily demand weekly demand and three month demand being in control right now so with that being said what should we be doing well as far as Longs go what I want to see is a clear [ __ ] the momentum here where we remove this Supply we remove this downward trend line and then any daily demand down there that we get it would be decent to look for confirmation trades in so as far as Longs go that is pretty much the only time I'd be getting in Long uh based on that daily chart as far as shorting goes uh this one Arizona had for the members was worked pretty well I or actually I think I drew it after the fact I'm not really sure anyways uh shorting clearly is working sometimes but the problem is like I said higher time frame demand is in control so shorting that is why in my opinion we are seeing these big moves up uh in gold and then you know obviously they start to fail so as far as shorts go I'm not seeing much I'm there's really no Trends even on the four hour or the one hour chart so I pretty much don't like gold for trading right now I would rather just wait to see this daily confirmation long uh before getting in long and as far as shorts go not really seeing a whole lot of opportunities if you are going to short based on what I said about the higher time frames shorts must be taken on like a one minute or a five minute chart that's it uh based on the higher time frame demands being in control so hopefully that makes sense on gold I'm sure I don't have an amazing setup on gold I know a lot of Traders like to trade gold but that is just the reality of the markets this week all right on to USD Japanese yeah in the past week the banks added 15 278 long contracts and they also added 6 996 Shore contracts now it's important to look look at the usdn we still have a weekly uptrend here overall daily trend is up although this sequence of time it is clearly down or sorry sideways and same with the four hour chart it's more visible on the four hour and the one hour charts so with that being said on usdn what do we do here well in my opinion we want to technically be trading with this overall weekly Trend so however you like to trade just remember the weekly trend is up it does not mean that the weekly trend is going to continue but the odds are definitely stacked in our favor that we trade long with that Weekly trend so I don't recommend shorting right now at all based on that Weekly Trend so as far as Longs go what are our options well this would have been a fantastic trading setup I'm not sure if anybody took that that would have been a definitely a decent little trading setup in there but for now as far as trade setups go that I have some potential I am seeing this four hour area of Demand right here now this four hour demand is not located inside a weekly demand zone so with that being said we have to be cautious with getting long in this area but if price does pull back to this for hour demand we could be hopping down to a 15 minute chart looking for a confirmation long trade uh coming off of that four hour demand so that is one option that I see on USD Japanese Yen as far as any other options go I am not seeing a whole lot let's say on the one hour chart we get something like this where we get a deeper pullback and then a move up where we break this high and we have an uptrend on the one hour chart then at that point we can start to set forget trade Longs on a one minute or a five minute chart based on this H1 uptrend if that does take place now part of the YouTube and patreon membership I'm sorry to bring this up again is I will Mark out this trend so if you get something like this you will see an up arrow on my chart to indicate that the trend is up because in my opinion there's a way to spot trends that is and that is very very important so those are pretty much the only two options that I see here on usdn remember weekly uptrend is currently in play so we want to be trading with that uptrend until we can see a significant push down on the weekly or the daily chart which we have seen it move down but overall the trend of the weekly is still up so we want to be looking for Longs and my opinion in the best way place to do it is inside that four hour area of demand all right on to the GBP USD weekly forecast the past week the banks added 3183 long contracts and they got rid of 20 or 223 short positions now right away looking at this chart it is extremely confusing to me and here's why well we have a weekly downtrend so I want to be shorting based on that Weekly downtrend because there's a downtrend and it's that simple in my opinion but when you come to the daily chart you can see we clearly lost momentum here as price is pushing up not only that we did get a daily confirmation right here with a daily demand Zone and we also have a four hour uptrend so as you can see price is all over the map here it's extremely extremely confusing in my opinion but at the end of the day we have to work with the higher time frames and right now we have a weekly downtrend and prices in weekly Supply now if we blow up the weekly chart here you can clearly see um that this weekly Supply not only has it been tested once right here but as we are in for the second test price is basically three quarters of the way inside the zone so my opinion this zone is looking weak but that does not mean we won't see a reaction down from this zone so as far as shorts go uh what we need to wait for is we come to a four hour chart is we need to start to see this four hour uh chart turn around now let me just draw out a trend line here to give a better indication something like this so your confirmation short on the four hour chart would look something like this where we can remove this nearest four hours demand Zone and then if we're left with four hour Supply that would be your confirmation trade coming off of that four hour Supply Zone and there's also this four hour demand Zone to be removed for confirmation as well so that's what I would wait for for shorts now let's say that you think that the GBP USD is going to continue its move up and break this weekly uh downtrend then in my opinion the only and I cannot repeat this the only uh conservative option in my opinion is to wait for this daily demand and be hit and then look for a confirmation long on a one hour chart inside that daily demand that is all that I see on the GBP USD I'm not really going to talk about it anymore because I feel like I've done a pretty good job of not trying to complicate it so hopefully that makes sense and as always if you have any questions or comments about that just comment down below and I will respond to everyone all right USD CAD forecast the past week the banks got rid of 2195 long positions and they added 223 Shore positions now if you look at the weekly chart on the USC CAD we clearly have a weekly uptrend it's very very possible that price could pull back to this weekly demand but in the meantime we have to be looking for longs to continue to trade with that Weekly uh uptrend so right away if you look at the daily chart here we are inside a weekly or sorry a daily demand Zone it has been tested here and we are inside for a second test that doesn't mean that we cannot look for Longs but Longs are just a little bit lower odds compared to when price first contacted this daily demand zone so since the zone is tested usually on a daily chart we want to look for one hour confirmation but since the daily zone is tested I think four hour confirmation is definitely going to be needed here now on the one hour chart there was a confirmation down here now I don't really recommend trading The Zone if price pulls back to that instead what I would do is I would look on this four hour chart if you look on this four hour chart we have a pretty nice four hour supplies on here it was wicked through but I'm not going to call that removed so in my opinion if you are looking for Longs in USD Cad and the only time I would get in long is if we can remove this for our supply zone so once this four hour Supply zone is removed to me that would be an indication that prices can potentially go up as we react off that daily demand so I don't recommend shorting the USD CAD I don't think that shorting is a very great option until we can get this daily demand removed first and then to me that would indicate that price is going to pull back to this weekly demand but until that happens we have to continue with our long bias so like I said for Longs which is the only thing I really think is pot is is okay right now we need to see this confirmation and if there's a four hour demand zone right here you could look to trade that four hour demand as we come off of that daily demand so hopefully that makes sense on USD CAD I'm just waiting for that four hour Supply to be removed to prove to me that price is going to continue up all right looking at the Aussie US dollar forecast the past week the banks got rid of 887 long positions and they added 15 200 Short positions before we get started on the forecast and look at the charts just want to give a shout out to Rob who sent me this uh trade that he took on one of my Aussie CAD zones that I had from the private weekly Forex forecast so congratulations see you rob thank you for sharing with that and I'm happy to share this trade with everybody and just wanted to point out uh the power of supply and demand so with that being said let's continue with the Aussie US dollar analysis so as far as the Aussie dollar goes we still have a weekly downtrend we are kind of starting to see momentum shift on the four hour and the one hour chart so to be very very clear I think going along is a little bit risky because we haven't really seen any daily Supply zones removed to prove to us that price is going to go up but if you look at the four hour chart we clearly have an uptrend here it's pretty pretty poor quality uptrend but price is actually sitting inside of this four hour Demand right now so what you could be doing is looking for 15 minute confirmation Longs coming off of that for our demand Zone and hope that price actually pushes up to this daily Supply and that the US dollar continues to fall so with that being said that's pretty much all I see here if we can get this four hour demand removed then at that point I would look too potentially short so if if you're looking at the Aussie dollar and you're not really sure what to do I would revolve it around this four hour Zone because in my opinion it's a very very strong Zone uh with a four hour uptrend in play so either we're going to react off the zone or we're going to break so you could be looking for a 50 minute Longs or waiting for that zone to break and then waiting to short so and I know I said the 50 minute chart but if you look at the one hour chart there's also a one hour supplies on here if you get that removed leaving us one hour demand you could also look to trade that area as well but remember Longs are a little bit risky uh based on the weekly and the daily downtrend that we have on the Aussie US dollar all right looking at USD CHF the Swiss franc the past week the banks added 2700 long positions and they got rid of 1514 short positions now if you look at the weekly chart remember we do have that Weekly uptrend although I don't like the price action here if you look at the daily chart here I actually pointed this out in last week's forecast that I said we could definitely see a reaction off of this daily demand so go back and watch that if you would like to and we are clearly seeing a reaction and a move up off of that daily demand Zone a little hidden demand Zone that wasn't really high quality but I definitely said we could see some sort of reaction off of it so with that being said I personally think we should be looking for Longs it's unfortunately on the one hour chart I'm not seeing a whole lot for really any trading opportunities I actually see one thing and let me just point this out to you guys right now there is this little four uh sorry one hour area of it's not technically demand based on my chain analysis but there is this little one-hour Zone and you could look for five minute confirmation Longs coming off of that one hour demand Zone like that if price does pull back to that but what I would be waiting for personally is I'd be waiting at this four hour chart so since we have a weekly uptrend daily uptrend with daily demand being in control down here I want to be looking for Longs so with that being said we had a uptrend here as you can see with my trend line and then all of a sudden price shot and broke and the zone that broke that uh upward trend line is this four hour Supply zone so to keep it simple I want to see a demand Zone remove this four hour Supply Zone and if we get four hour demand here this is the four hour demand Zone we would look to potentially uh get in Long at so that's all I'd be waiting for here on the USD Swiss I think that's the safest bet if we do get a one hour uh very clean one hour uptrend and then at that point you could start to look for set forget trades long on the one minute or the five minute chart but for me personally I think it's best to wait for this four hour Supply to be removed to prove to us that the zone that broke the trend line was removed and sellers are most likely not in control so that being said Longs are definitely looking like the best option here on USD Swiss as daily demand is in control all right looking at oil last but not least the past week the banks got rid of 869 long positions and they added 1597 short positions so on oil if you've been watching my forecast for a while I talked about how we could definitely see a reaction from oil from this area I called this out as price was pretty much up here so definitely go back and check those videos out and we not only that we did get a oops my mouse is a little screwed up but we did get a daily confirmation here and look at the reaction off of this daily demand Zone that I had for the members and myself so right now daily demand isn't controlling oil and higher time frame demand is in control as well so I think oil could continue to push up that is just my opinion as far as trading setups go since daily demand is in control we should be looking for Longs in my opinion um the only problem with that is I'm not really seeing a whole lot of zones there actually was a demand Zone I missed down here I'm just going to draw that out for the sake of it possibly being removed down here um so with that being said there is a one hour demand zone right here although it is very very large and I don't really recommend just taking this Zone like that and praying that it kind of goes up so there if you like to day trade there's this one hour demand Zone you could look for a five minute or a one minute trade coming off of that demand Zone on the long side I don't recommend shorting oil right now at all by any means uh based on my macro and multiple time frame analysis so that is one option wait for that one hour demand to be hit and then look for a confirmation trade only five minute or one minute chart the next option is to wait for this four hour Supply to be removed and if we're left with four hour demand you could use this four hour demand to look for a confirmation trade off of uh but that zone will be uh applied later on the chart if that does take place so hopefully that makes sense on oil I'm not surprised at all to be seeing oil push up even though we clearly had downward momentum but the thing is higher time frame demand zones are in play right now and that is why we are seeing a move up on oil 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 cap per month hope to see you guys there and hope to see you in the next video
2022-11-03 04:57
