Weekly Forex Forecast | EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD OIL (12/12/2022) Forex Forecast
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 call report for the US dollar the past week the banks got rid of 1122 long positions and they also got rid of 1116 Shore positions um and looking at the weekly chart here of the US dollar remember this is the highest time frame I use for these forecasts so remember we are reacting off of a weekly demand Zone that has been tested so that is why we could see the US dollar rally up from this area but if you look at the lower time frames compared to the weekly chart if you pop over to the daily chart here clearly the momentum uh is definitely somewhat down I'm actually going to mark that as a downtrend even though it's not a great Trend uh momentum is you know clearly down and if you come over to the four hour chart we can actually see four hour Supply zones that I've had drawn for the members working very well where you acted off this one perfectly so clearly Supply fly zones are being respected here on the US dollar and I actually even though we are in a higher time frame demand Zone on the weekly chart I don't really think it's the best idea to be going uh long the US dollar until something like this takes place so if you come back to the four hour chart if we can get something like this where we not only remove this downward trend line but we also remove this four hour Supply Zone at 105.63 then at that point I think it's safe to say that the US dollar could begin to Rally up higher again obviously the best thing that we could see is something like this on the four hour chart where not only do we remove the downward trend line in this Supply Zone we get a pullback and a move up which would give us that four hour uptrend and at that point I think it's all it's all Longs considering the US dollar but until then I would just maybe continue to trade short on the US dollar especially if you are day trading time especially if you are a day trader just kind of based on what I'm seeing off of the daily in the four hour chart so as of now I would continue shorting the US dollar until we can see a momentum shift on the four hour chart all right on to the forecast for the Euro US dollar the past week the banks added 3 941 long positions and they also added 1305 short positions now if you look at the weekly chart here it's obviously the inverse of the dxy you can clearly see we have lost momentum on the weekly chart and momentum is up on the daily chart and we have very strong trend on the four hour chart now the problem with this chart right now is yes we do have a four hour uptrend but on the one hour chart we are just going sideways we are respecting demand we haven't really reacted off of it but we are stuck between demand and Supply so in my opinion the best thing to do to wait before getting in Long on the euro is to wait for this one hour Supply to be removed first something like this and at that point we will have you know a very strong one hour uptrend and then I think looking for Longs at that point is somewhat of a decent idea now I talked in last week's forecast as well if you are bullish the Euro which I could see reasons to be bullish to the euro long term compared to the US dollar if you look at macro economic um indicators and stuff like that I could see the reason why you would be bullish long term on the Euro so if you are there is this daily demand at 1.037 that I pointed out in last week's forecast and you could look for a one hour confirmation trade coming off of that daily demand zone now other than that I'm not really seeing too many other options I don't really think shorting is the best idea right now if you do want to short this is what I would be personally waiting for if I was trying to short the Euro which I am currently not but if you are this is what I would wait for I would wait for a shift of momentum on the four hour chart like this and any Supply Zone that removes this trend line uh you could definitely look too short that's Supply Zone to kind of get in on this counter Trend trade to trade with the overall weekly momentum to the downside now remember these zones like this if that does take place it will be available on my chart to all the patreon and YouTube members so definitely check that out you can get my daily chart analysis on a daily basis definitely check that out links in the description down below you definitely uh won't regret it so as far as the Euro US dollar goes shorts I would wait for that downtrend to to or sorry the uptrend to be removed and as far as Longs go I'd be on that one hour chart waiting for the supply Zone to be removed and if you want to focus on the four hour chart if we can get this four hour Supply removed at 1.06 and we're left with a four hour demand Zone like this you could look to trade that four hour demand Zone to continue to trade with the four hour uptrend remember I will have that zone if you are a member so definitely check that out all right on to the forecast for gold the past week the banks added 2311 long positions and they got rid of 2811 short positions now in last week's 4 forecast I did talk about how gold was looking very strong on the four hour in the one hour charts and even the daily chart the momentum you know is clearly to the upside on gold but the problem with getting in long was the fact that we were contacting this weekly area of Supply now the supply was tested and if you guys do understand supply demand when a zone is tested it does become weaker over time so that is why I wasn't putting a lot of weight on this weekly supplies on at 1806 but nonetheless we are reacting off of this weekly Supply Zone and I did talk about something like this if I if you come to the four hour chart here I said we reacted off of my four hour demands one here and I said if we can get this four hour demand Zone removed we could be looking to get in short for a confirmation trade coming off of that Weekly Supply Zone but the thing was we did remove this daily or sorry we did remove this demand Zone but this trend line held beautifully as you can see we are currently reacting off of the trend line perfectly so that is why shorts probably didn't work out at this Supply Zone and why they probably won't work at this Supply Zone either so as far as trading gold goes now the same thing I said last week still applies in my opinion since we are reacting off of a weekly supplies on higher time frame Supply I think it's still okay if we do get something like this to take place leaving us with four hour Supply you could look to trade short gold like that off of that four hour area of Supply if that does take place now shorting is a little bit risky based on the momentum so if you do want to get in long I also don't really disagree with it based on the strum metum on the daily chart and the fact that this weekly Supply zone is tested so as far as Longs go if you guys been following my channel for a while now you guys know that I like to take the conservative safe route most of the time in my trading so to be clear before I would get in long I would need to see this Supply Zone removed at 1804. so if you can get something like this to take place leaving us with a four hour demand Zone you could then use this four hour demand Zone as a confirmation trade so you can use um the 50-minute chart and trade long on a confirmation if we do get that four hour demand why do I want to see this supplies under move first well here's a quick little tip in order for a daily momentum or Trend to change we need to start to see price CH change to the downside on Lower time frames so that is and how does price change on a lower time frame well that is how that is possible by Supply zones being created and reacting and dropping so that is why I need to see evidence of this Supply taken out first before we just get in long I know that that means that oh well I could have bought down here and price was already up here it could have been taking profits why would I want to wait for the supplies to be removed but at the end of the day it's better to see the evidence of Supply being taken out and then if we're left with four hour demand wait for the pullback and then we can get in Long at that time and I do see a lot of potential upside in Gold if we can break this weekly supplies on at 1806 I could see gold going up to at least 1950 50 and maybe even to all-time highs in the next year so I'm very bullish long term on gold we just need to see evidence that this trend is going to continue and that this weekly Supply is going to be taken out all right on to the USD JPY the past week the banks got rid of 5934 long positions and they also got rid of 4 536 Shore positions now this is a very interesting chart clearly on the weekly chart the overall momentum is up and I want you guys to remember that so trading short is definitely a little bit risky but it doesn't mean it shouldn't be done because who knows this strong uptrend that we've been having since the start of 2022 on the USD Yen could be coming to an end it's almost impossible to predict that but trade I just don't want to stray away people from getting in short because clearly on the daily chart here we're reacting off of daily Supply so shorts can still be good although I would prefer to trade with the overall momentum I'm just not really seeing any evidence that we will be continuing to trade with that overall momentum so as far as trading the USD JPY goes right now um there are definitely a few options here if you come to the daily chart here we like I just pointed out we are reacting off of this Supply Zone at 137.64 so with that being said since the momentum is down and we could see the overall trend starting to change we could be looking to potentially get in short coming off of that daily area of Supply the problem with that is that we have on this four hour chart we had a demands on here that I had drawn out for members at 135.67 and we reacted perfectly off of this demand and
we are starting to head up it doesn't mean we're gonna you know go to the all-time highs again on ustn but it does mean that we are reacting off of demand and we want to be very cautious about getting in short so to be very clear if you want to trade a confirmation trade coming off of that daily area of Supply what we need to see is this four hour demand taken out so we basically need to break 135.016 and at that point if we have a four hour supplies on in here you could use this four hour Supply Zone as a area to look for confirmation I don't really think just getting in short at a four hour Supply Zone if we do break this demand zone is a good idea I still think we should be looking for confirmation if you guys want to learn more about confirmation trading I do have a trading tips playlist here on YouTube that you guys can check out if you want to learn portable confirmation and if you want a little bit more advanced video series on confirmation that is definitely something that is included in the silver membership here on YouTube or patreon and there's a lot more in the membership like private live stream forecasts every Sunday custom chart analysis daily chart analysis and much more all for just ten dollars CAD per month so definitely check out the silver membership we'll be happy to see you guys and be part of the team so remember we need to see this four hour demand taken out before we just get in uh short and as far as Longs go which is kind of what I'm favoring here based on the overall momentum uh it's gonna take a while for me to feel comfortable getting along I need to see at least this daily Supply Zone to be taken out and if we're left with daily demand here I would be interested in trading inside of that daily demand Zone to trade to the upside so that is what I'm waiting for on ustn because I am a swing Trader I am not a day trader so that is why I need to see this daily Supply taken out first before I get in long I think that that's something that you guys should consider as well all right looking at GBP USD forecast the past week the banks added 2539 long contracts and they got rid of 5852 short contracts clearly the momentum is up on The Daily 4 hour and the one hour chart here on the pound now remember the overall momentum on the weekly chart is down long term but that does not mean we cannot be getting in long and trading with the four hour and the one hour Trends so as far as the pound c as far as the pound goes the only thing I'm really seeing for this forecast is this four hour uptrend and it's very very strong you could have been looking for trades inside of this four hour demand Zone but obviously that has passed so there's no point in talking about that but we do have strong four hour uptrend so the only thing I really see here is to be send forget trading to the upside uh in long and only on day trading time frames why day trading time frames only because when we have a four hour uptrend the entry time frame for a four hour chart trading Supply in a man would be a 15 minute chart so with that being said I think Long's on 50 minute five minute or one minute chart is okay to to continue to trade with this four hour uptrend and that's pretty much all I see right now I'm really not seeing anything else if we pop over to the one hour chart we have this one hour Supply Zone that we're reacting off of currently so if we can get this one hour Supply Zone removed leaving us with one hour demand you could also look to trade inside of that one hour demand Zone and I will have that on my chart uh for you guys and for myself so that is what I'd be waiting for here on the pound US dollar but obviously it's okay to just be looking for longs to continue to trade with that four hour uptrend but remember very very important it only makes sense to do this on day trading time frames based on there only being a four hour Trend and there being no trend on the weekly chart the USD CAD forecast the past week the banks added 1568 long positions and they got rid of 4406 short positions now before we get into the analysis I do want to show you guys what a confirmation trade looks like if you have not seen one so we had a daily Supply zone right here or sorry right back here and as price pulled up to this daily Supply Zone you could have been looking for a confirmation trade short on the one hour chart and if you look over here on the one hour chart we clearly got it we had a one hour supplies on right here that removed demand and as price pulled back we got a reaction off of it and there was your three to one or two to one trade so just wanted to point that out before we continue on here so as far as trading the USD CAD goes right now I'm not really sure what what to be doing here the overall trend on the weekly chart is up although this price action is definitely not very appealing so what I would actually be doing is although we do have a daily Supply Zone in control I think that if you want to come over to the four hour chart and wait for this High to be taken out and we can draw a four hour uptrend at that point I think looking for Longs at that point will be okay or if we can get a four hour demand Zone here to be formed by breaking this Supply and we get a pull back to that four hour demand you could be looking to trade in Long inside of that four hour area of demand if that does take place now as far as trading short off of this daily Supply Zone goes now I don't really like it because we already had the confirmation here that I showed you guys earlier and the Zone has already played out the trade has already played out so I think it's either best to wait for a four hour downtrend before we look for shorts again or like I said if you want to continue to trade with this overall bullishness on the USD CAD disregarding this uh choppy um this choppy price action here the overall momentum is still up on USD CAD so I think it's best to actually just wait for this High to be removed in the four hour chart where we will have the four hour uptrend again and at that point I think getting in Long on day training time frames will be okay other than that I think waiting on UST CAD is probably the best option right now as I'm not really seeing any potential setups all right looking at AUD USD the Aussie dollar forecast the past week the banks added 1289 long positions and they got rid of 2778 short positions now the first things first here on the Aussie US dollar uh pretty much the only thing that matters here in this chart is this weekly Supply Zone at 0.679 we are currently reacting off of this Supply Zone in a weekly downtrend so in my opinion it shorts all the way uh on the Aussie US dollar right now um and the only problem with it is this four hour chart we were getting confirmation and you know we reacted down got it again little trades might have worked out you know here and there so as far as training this one goes now we did get a four hour confirmation right here at 0.6827 now I don't really like to take zones at the extreme of price like this because the problem with that is that a lot of people are seeing this High and a lot of people are shorting this High because that's what they've been taught and their stop losses are all above here so what we'll see happen when there's a supply Zone at the extreme like this is something like this take place where it's very it gets very Wicky in here and maybe it does end up going down but usually you will see price stop people out first and then go down or something like that so in my opinion the best thing to do is to not just take this four hour Supply Zone but instead go down to a 15 minute chart when the supply zone is hit and look for an extra confirmation coming off of that four hour area of Supply now as far as other trading opportunities go let's say let's say price either hits the Zone we don't get confirmation and it keeps going down or we just start to roll down here and we never hit this supplies on it's not really a big deal because let's say we break this demand Zone on the four hour chart at 0.672 and we're left with a four hour supplies one here you could do
the exact same thing that I was talking about up here in this Supply zone so that's what I'd be waiting for on the Aussie US dollar or if we can get this low removed and we have a four hour downtrend then a bunch of of other opportunities start to take place as we can start to trade with that four hour downtrend using set and forget style entries as well so like I said either look for confirmation on the 50 minute chart on this Supply zone or wait for this demand Zone to be removed and look for 15 minute confirmation off of the four hour Supply Zone coming off of that zone and remember I will have this Supply zone for myself and for the members on my chart if you are a member so definitely check that out as I brought it up earlier so that's pretty much all I'm seeing here on the Aussie US dollar I definitely don't think getting it long is the best idea right now based on not only a weekly downtrend but weekly Supply and control so I think it's just best to wait for great potential shorting opportunities here on the Aussie US dollar all right onto the CHF the USD CHF the Swiss franc the past week the banks got rid of 2162 long positions and they also got rid of 145 short contracts so as far as USD Swiss goes it's definitely a very confusing chart for one because I see a lot of different opportunities we have a four hour and a one hour downtrend so we could be looking for day trade day trades to the short side on one minute five minute or 50 minute charts to trade with the four hour and then one hour downtrends but the problem with that is this weekly chart over here we are about to contact this weekly area demand at 0.93 and at that point I think we could definitely see a move up as we react off of that uh weekly area of demand so as far as trading this one goes now I would just be focused on this four hour chart um if you do want to get in short like I said it's got to be on day trading time frames and it definitely is very risky so I would stick to maybe like half risk or maybe like a quarter risk or whatever split it up however you like to do it or if we can get something like this to take place actually let me just draw this trend line out like this so we do have that four hour downtrend so in my opinion if we can get you know something like this where we remove this downward trend line and we're left with four hour demand you could use that as a confirmation area coming off of that four hour area of demand but obviously I would prefer to wait for this weekly demand to be hit first before we end up doing that but you can pretty much call it hit now so as far as USD Swiss goes definitely confusing definitely not on my watch list this week based on the confusion around it and definitely about this price action on the weekly chart very very choppy so USD Swiss definitely not on my watch list this week if you want to get in long wait for a shift of momentum on the four hour chart if you want to get in short like I said day trading time frames only based on there being no daily Trend and only a four hour and one hour downtrend all right on to crude oil to end it here the past week the banks added 23 985 long contracts and they also added 32 000 and for short contracts now we did end up breaking the this weekly air of Demand on oil but remember we still are in a three-month area of Demand on oil so we could still see oil push up it just means that you know the lower time frames compared to the three months like the weekly chart has been removed so I am still bullish on oil we just need to wait for price to start to change change Trend and then we can pronounce uh sorry pounce on Long entries but until then we have four hour one hour and daily downtrend so in my opinion if you want to be getting in short on day trading time frames I definitely think it's okay because it's proven to be working out and it probably will continue to work out in the future so as far as training this one goes now there are definitely a few options if you come to this four hour chart there is this four hour area of Supply it's pretty low quality Supply but it is located at 72.30 you could look for a 50 minute confirmation trade coming off of that four hour Supply Zone far as the daily chart goes there is this daily Supply Zone at 80.68 you
could look for a confirmation trade coming off of that daily Supply Zone there on a one hour chart you could definitely do that and as far as Longs go this is what I'm waiting for I am waiting for not only this daily Supply to be taken out but also this downward trend line and then for left with daily demand here I will look to trade inside of that daily demand Zone but until then I think it shorts all the way here in oil especially since this weekly demand has been taken out but remember I would look to take profits a little bit early based on price being inside of this three month area of demand and we could definitely start to see oil start to turn around and maybe even push to all-time highs again on oil but that's it for another forecast but remember like I said Longs will be best after we can see a significant shift in momentum over here on this daily chart 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
2022-12-12 01:43