Weekly Forex Forecast | EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD OIL (12/12/2022) Forex Forecast

 Weekly Forex Forecast | EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD OIL (12/12/2022) Forex Forecast

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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

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