Weekly Forex Forecast (10/01/22) EurUsd / XauUsd + Forex Trading Plan! [HD]

hey traders it's john fortune here with this  week's weekly forex forecast i hope you all   had a fantastic new year and looking forward  to the new trading year i certainly am we're   going to kick off today with a quick review of  the key events heading into the next two weeks   there isn't too much going on so it won't take us  too long to go through this it's just to make sure   there's nothing coming up that we need to  be prepared for or plan our trades around   like an interest rate decision we're then going  to look at the scorecards for the currencies in   the coming week we'll then have a look at the  individual currencies to see how they match up   with the scores and then we'll go and look at the  best currency pairs heading into next week before   finishing with stocks gold silver and bitcoin  so that said let's get into today's video so   a quick look at the economic calendar shows us  that there's not too much coming up this week   we need to worry about in terms of economic  data we have power testifying on tuesday but   not something we really need to plan around  we have some cpi data coming out on wednesday   i wouldn't be surprised to see the dollar  pairs get a bit volatile and you may even   see this catalyze the dollar pair somewhat  but it's not something we need to plan around   that's going to change the trends or reverse  the trends that we're going to be looking at   today and we also have on fridays some retail  sales data but again this is not something we   need to pay too much attention to so pretty much  a clear week in terms of economic data next week   if we skip ahead a week you can see we do have  an interest rate decision out of japan but   the monetary policy in japan is pretty rigid we've  had interest rates at minus 0.1 for a while and   this is likely to pass uneventfully so you can  trade the yen pairs into this even though we have   this uh next week because it's unlikely to cause  too much of an effect on the market one day that   will probably change and we will see something  coming out of this event the boj interest rate   decision event however it looks highly unlikely  that this is going to change so if we look down   for the rest of the week you can see we have some  cpi data but again and some employment data these   are not things we need to concern ourselves with  too much uh this week and it pretty much leaves   us with a clear economic calendar and a clear  run on the markets over the next week or two   okay so let's look at the scorecards going into  this week and you can see last week the swiss   franc was the strongest the euro was the weakest  alongside the new zealand and the yen which were   highlighted to the downside and the pound was  also quite strong the cat was quite strong now   we didn't do a weekly forex forecast video last  week of course but i did post this on twitter   the scorecards at the beginning of last week and  you can see now heading into this week the pound   is actually the strongest currency this is the  best long highlighted on the scorecards going   into this week and we have the new zealand as the  weakest currency so certainly pound new zealand   is going to be one of my favorite if not my  favorite market to look at to the upside going   into next week what's important as well is  not just the scores but also the net change   in the scores where's the momentum going do  we have currencies which are strengthening or   currencies which are weakening you can see we  do have a slight weakening of the swiss franc   we have a strengthening of the us dollar but  overall it only has a plus one rating so the us   dollar although we will look at it somewhat this  week because it did increase in strength by a net   change of two it's still fairly neutral and any  currencies which score around one to zero should   be considered neutral currencies we're really  looking for the strongest versus the weakest   i do also like the cad going is this week when  we look at the crude oil market you can see it's   very bullish and i do think we're going to see  higher highs in crude oil this is going to drag   the canadian dollar up and the cad also has some  momentum going to the upside we have a net change   of plus one from last week so it's strengthened  it's strong but it's also been strengthening   and this is why although it has the same rating  as the swiss franc i would prefer to look at the   canadian dollar pairs over the swiss franc pairs  now going into next week because of the difference   in momentum or the net change in the swiss franc  and the canadian dollar so the pound and the cad   of my two favorite long's going into next week  and the second short the downside the japanese yen   is my second favorite short going into next week  alongside the new zealand dollar so we're going to   go and look at the markets we'll look at pound new  zealand certainly pound yen these are two markets   i really like we'll also be looking at cadion and  new zealand cad to the downside we're also going   to look at the swiss franc pairs because although  it's slightly weakening it is still quite strong   but i prefer it as a long after pound cad and then  the swiss franc in third place and finally we will   look at some of the us dollar pairs because of the  plus two net change however it's my least favorite   long simply because it scores one which is telling  us it's actually currently neutral we do also have   fomc in three weeks time so it'd be interesting  to see if this corrects interference or not   okay so let's have a look at the individual  currencies this week starting with the dollar and   you can see this is pretty much just confirming  what we looked at in the scorecards the dollar is   correcting in an overall uptrend and it's really  just been moving sideways ever since the end   of december we are bullish to neutral going into  next week and it is structured to the upside we're   actually starting to develop an inverse head and  shoulders it's not yet confirmed and that would   be confirmed on a break above this level that  would likely send the xy higher into the 9610 but   really again visually this should just be  underscoring everything we discussed when looking   at scorecards which is that the dollar is kind  of neutral and you could see this moving either   way next week so we will look at it somewhat  to the upside because it is forming an inverse   head and shoulders in an overwatch trend but i  do prefer pound cad and also the swiss rank to   the upside before us dollar long positions next  week so the dollar is currently neutral still   the next market is the euro the euro is really  just doing the inverse here of what we discussed   in the dollar instead of correcting in an uptrend  we're correcting in a downtrend and we've also   started to develop a head and shoulders that  would be confirmed on a breakdown below here so   really you can't get much more neutral than this  because we're in a correction and we haven't even   confirmed any reversal patterns here so the euro  yes it scores -2 but this is another reason why   i would much prefer new zealand shorts and yen  shorts over euro shorts heading into next week   because the euro it has the same score as the  yen and the new zealand but out of the three   of them it's actually the strongest and that's  mainly by virtue of the neutrality in the dollar   next is the pound now compare the pound to  the markets we just looked at this thing is   trending to the upside and it's even making  new highs here in the four-hour chart so   any pullback in this market would be viewed as an  opportunity to look further advances next week i'm   going to be looking into the 1.3669 and this is my  favorite long heading into next week in terms of   currencies so i'll absolutely be keeping an eye on  pound long positions next week next is the swiss   franc now the swiss franc is still structured to  the upside and it is still technically bullish   overall however you can see we came down at the  end of last week and this ended up causing that   reduction in the strength of the swiss franc went  from a plus three to a plus two so the swiss franc   is still strong i do like it over and above the us  dollar in terms of long setups however not as good   as the pound which we just looked at next is the  japanese yen the japanese yen has sold off to the   downside and you can see we have a big momentum  sell-off down here this is the previous correction   right here and what this is showing you is this  breakout down here with momentum is pointing   towards further declines to the downside so any  pullback as we're getting here should be viewed   as an opportunity to just simply look for further  declines and this breakout to the upside is likely   to fail and as a result pound shorts heading into  next week certainly pound yen to the upside is   something i'm going to be paying attention to next  is the cad now the canadian dollar is structured   to the upside and you can see we are developing  an inverse head and shoulders here that would be   confirmed on a break above this level which we're  coming very close to although we have a target at   the 0.7933 if it breaks this level here and this  confirms an inverse head and shoulders you could   see this start to rally with some strength so  if that's the case cad long positions as well   are definitely something i'm going to be paying  attention to this week especially as the cad   has some momentum in it we saw it increasing  in strength from a score of one on last week's   scorecards to a rating of plus two this week so  look out for this break in the canadian dollar   and going into next week especially with crude  oil structure to the upside as we're going to see   i do favor cad strength heading into  next week next is the australian dollar   now the australian dollar is currently structured  to the upside but if we zoom out a little bit here   to me this just looks like a large correction in  an overall downtrend and i would not be surprised   to see this starting to break down with some  momentum at some point now the scorecards   are showing the australian dollar as a score  of minus one so it's telling us even if this   is going to continue lower be a little bit patient  for the time being on australian shores let some   momentum come into the market let the australian  dollar weaken to a score of two or three before we   look to short it so i would not be long the aussie  dollar even though this is stretched to the upside   but it may be a little bit too early too short in  any significant way and compared to the japanese   gem we looked at i would favor the yen to the  downside over the australian dollar next week   and finally we have the new zealand dollar and the  new zealand dollar is pretty much the same as what   we just discussed in the australian dollar in the  sense that this is technically structured to the   upside here however the scorecards are telling us  that this is more than likely just a correction   and a downtrend and although it's technically  structured to the upside now do not be surprised   to see this coming down taking out the low and  reversing to the downside usually when you have   a score of minus three or plus three you would  expect to see that market really trending either   to the upside or the downside the fact that  we're still correcting the new zealand dollar   it tells me that we might be about to start to  trend quite strongly to the downside and this   -3 rating in the new zealand dollar alongside a  weakening because we went from minus two last week   to minus three this week this is really telling  me we could be about to break out to the downside   in new zealand dollar and so alongside japanese  yen i would be interested in those new zealand   dollar shorts okay so let's look at the markets  themselves heading into this week starting with   crude oil and crude oil actually bounced to the  upside started to reverse to the upside after   failing down here if i were to take this level you  can see this is actually a failure to make a low   in an overall uptrend and we started to reverse  and it does now look like we're going to make a   run for the highs overall the 85 75. in the very  near term though you can see in the four hours we   are starting to form a ball flag here so any  pullback in this market next week would be viewed   as an opportunity to look for further advances  into the next key of resistance the upside at the   82-68 the fact that crude oil is trending to the  upside and it's looking to make a run to the 85-75   this also adds some weight to cad long positions  and it's another reason why i score cad so highly   going into this week it's only one variable of a  lot of variables that gives the cad it's waiting   this week however it is an important one so if we  start with GBPNZD which is the best rated currency   pair going into this week you can see that we are  really trending to the upside here and you can see   we've broken out of the previous minor correction  here with momentum i do like this quite a lot   going into next week i'm absolutely going to be  keeping on this pair and you can see it scored   as one of my top six going into next week any  pull back and i would be looking for a pull back   towards the previous breakout in this area but  any pullback in this area would be viewed as an   opportunity to look for longs i'm looking for the  next key of resistance the 2.0262 next is GBPJPY   also very high on my list probably my second  favorite maybe even first favorite uh looking   at that momentum to the downside in the japanese  yen but you can see we started to pull back GBPJPY   again we didn't do a weekly forex forecast video  last week but i tweeted the scorecards and GBPJPY   was highlighted as one of the best longs last week  on the scorecards and look at the rally we had in   fact i think it was the best performing market  last week we started to pull back which is great   because any pullback gives us a better opportunity  to enter these markets so any deep correction is   simply viewed not as a reversal but an opportunity  to look for bullish reversals bullish breakouts   into the 15820 first and foremost and i think if  we break through here because it's quite close   we could even be coming up to the second  target next week at 160.06 next is EURGBP  

this was also highlighted last week as one of the  best currencies in the scorecards which i tweeted   out and it was to the downside it was highlighted  as one of the best shorts and if you shorted this   last week you got paid nicely heading into  this week you can see we're just correcting   and so any pullback in this market  is going to be viewed next week   as an opportunity to look for bearish reversals  i'm going to be looking down to the 0.8287 again you can see highlighted as one of my  top six currency pairs going into next week   next is GBPAUD now we've already discussed  the fact that the australian dollar   it's kind of bearish to neutral and this is  why this is not highlighted one of my favorite   yes GBPAUD is structured to the upside  yes we have very nice momentum and based   on what we're seeing here i would be looking  for any pullback towards the previous high   for an opportunity into the 1.9145 but i have to  ask myself well if the euro is weaker than the   aussie and the yen is weaker than the aussie  and the new zealand is the weakest of all   why tie up my capital in pound aussie when i  could trade GBPNZD or GBPJPY or even EURGBP to the   downside so i am bullish on GBPAUD but i prefer  the other three markets going into next week   next is NZDCAD, NZDCAD is trending to the downside  and we have some real strong momentum in here   again look for a pullback towards these previous  lows over here and any pullback in this market   is going to be simply used as an opportunity to  look for bearish reversals down to the next key   of support which as you can see is a 0.8460 and  with the new zealand dollar weakening gaining   momentum to the downside going from -2 to -3 last  week and the canadian dollar doing the opposite   strengthening from plus one to plus two NZDCAD  is a very interesting pair to me heading into   next week and it makes the top six here next is  NZDCHF now actually shorted NZDCHF last week and   that was because the new zealand was weak the  franc was the strongest but because the swiss   franc dipped back a little bit from its highs of  three to two we saw this being a little bit choppy   however we did end up closing the week down if  you shorted this somewhere near the up move or   near the resistance areas up here you would have  made money but it just didn't explode to the   downside as i quite would have liked it to have  last week going into this week however everything   we've looked at suggests to me that this is  still going to come down to 0.6140 and i do  

still have a bearish bias on this so any pullback  in this market we've already started to pull back   but say we try and take out previous highs over  here it's simply viewed as an opportunity to once   again look for further declines into the 0.6  140 and as i highlighted last year this is a   high conviction target so when you combine all  those things i do think we come down in NZDCHF   and it makes one of my favorite pairs going into  next week next is new zealand dollar this is on   here really by virtue of the weakness of the  new zealand we have broken now and confirmed head and shoulders to the downside and we pulled  back and retested it if you really wanted to trade   a dollar strength play next week i guess  this would be the one because the new zealand   is the weakest so if for whatever reason we  get a weakening of the us dollar instead of   it flying in your face and you're taking a bigger  loss this will probably just chop and range and   any losses would be minimum but again you know  why short new zealand dollar if you can short   some of these markets or go along some of these  markets is a good question to ask and for that   reason i would probably prefer to look at the  other markets maybe on the basis that the new   zealand weakened last week and at the same time  we had the us dollar increasing by a score of two   it does suggest because the dollar is gaining  momentum and we just have this initial breakout   here i wouldn't be surprised to see this coming  down and seeing the dollar ending up being a plus   two next week perhaps so as it stands certainly a  market i think is set for further declines however   i do prefer the other new zealand pairs to the  downside as i said next is CADJPY now CADJPY   makes one of my favorite markets going into next  week it makes the top six here and that's because   of what we looked at in the end the fact it  scores weak and the fact that we may have   a inverse head and shoulders breakout in the  cad with a strong crude oil so any pullback in   this market is simply viewed next week as  an opportunity to look for bullish setups   into the 92 90. again one of my favorite pairs  heading into next week next is CHFJPY now CHFJPY   previously came up and took out a target set at  126.96 and it started to pull back however based   on what we're looking at i do think we probably  make a run into this target one more time so any   pullback in this market is viewed as another run  or an opportunity for another run into the 1.2696  

but we are seeing some momentum coming out of  the swiss franc and even when we looked at the   swiss franc itself we saw a break to the downside  and we're seeing a bit of a sell-off so i would   prefer to trade GBPJPY to the upside and CADJPY  into the upside but it does look like we could   see further advances in CHFJPY and finally here we  have the dollar pairs which of course are my least   favorite because of the neutrality of the dollar  if you remember at the end of last year in the   last video we discussed a couple of markets even  i think there was three markets we looked at which   were potentially setting up for big reversals  indicating deflation all of those failed they   one of them was uh USDJPY we were looking at this  left shoulder head and we were sitting here and i   said if this starts to break down especially if  we come down and confirm a breakdown here and we   have a confirmed head and shoulders this would  be indicating deflation and instead we took out   the high or the head and we're making new heights  we're trending to the upside so it's indicating   the complete opposite now this is telling us that  we're probably looking at a reflationary scenario   and if we look at the us dollar versus the  japanese yen you can see we have really nice   momentum here to the upside i mean it was kind of  struggling to make new hires and then it exploded   with momentum and this is setting up just  a big ball flag so any continued pullback i   would look for a reversal higher and i would  be looking up to first of all the previous   high and then on to the next key of resistance  to the upside which in this case is the 117.04 and finally we have EURUSD, EURUSD is kind  of mimicking what we looked at just in the   euro itself it is correct in a downtrend it has  formed a head and shoulders reversal pattern here   that would be confirmed on a breakdown below  here so if i were going to trade the dollar   pairs i think i would prefer NZDUSD first and  foremost but EURUSD may become interesting to   me if we break this low because that would set  into motion a head and shoulders reversal to the   downside in an overall downtrend and that would  more than likely be the end of this correction   and a breakdown below this level would see us  coming down in all probability to the 1.1146   so you can keep an eye out for this as well i  am overall bearish on it but again i think there   are better markets to focus on and trade next week  over and above EURUSD the neutrality in the dollar   the score cards when we get neutral scorecards  it's trying to keep us out of this that's the   whole point these corrections come to an end but  we don't want to be trying to jump into this and   just being chopped around for two three four weeks  so i'd be very wary of EURUSD unless we break the   low over here and confirm this head and shoulders  okay so let's finish up with stocks XAUUSD,   XAGUSD and bitcoin starting with the SPX the  SPX is technically structured to the upside   the slight issue we have here is that although  it's structured to the upside we are seeing the   technology sector actually breaking down somewhat  and this is causing because it makes up such a big   component of the SPX this is causing the drag on  the SPX we also have volatility at higher levels   and this is also keeping a drag on the SPX so i  am bullish overall on the SPX however for reasons   i just discussed i wouldn't want to be naked long  on the SPX or on stocks in the SPX i'd rather have   long short at least until we start to see some  breaks to the upside volatility coming down   and even what would be great is the  tech sector picking up for the SPX bulls   so technically speaking i am looking for higher  highs in this market we are starting to sell off   i wouldn't be surprised to see us coming down a  bit further for reasons just discussed however   at some point i would be looking  for this to reverse and break higher   i would be looking overall back up to the 4815.04  next is the nasdaq now the nasdaq is breaking down  

towards the previous low over here and again  this is just reflective of what i said about   the technology sector and tech stocks in general  we are coming very very close to the low down here   and the problem i have here in the nasdaq is if  we are to break the one five five one three eighty   this is going to at the very least be indicative  of a bigger correction here in the nasdaq   so in order to be bullish on the nasdaq  what we'd really have to see first is that   have to see this failing to make a low very  similar to what we looked at the beginning oil   and then reversing to the upside and that  would be the opportunity to start to get   bullish on this once again for the time being  i think what this is showing you is as i said   tech is really underperforming and for those  of you who like to trade the indices themselves   i would prefer the s p 500 over the nasdaq so i am  bullish but i absolutely wouldn't just be stepping   in to try and buy the low here i would like to  see this reverse higher to confirm a bullish   bias and a trend reversal to the upside in this  market so patience required here on the nasdaq   next is the dow jones now the dow jones is  actually making new highs and it's just pulled   back slightly i actually prefer this compared  to what we looked at just now in the nasdaq   and in terms of being long or bullish next week  i like the dow jones alongside the s p 500 better   than the nasdaq so any continued pullback in this  market is simply viewed as a near-term correction   for a breakout to the upside and further  advances into the 36 986.88 next is the russell   now the russell of course is showing us or  it's indicative of the small cap stocks or   the small businesses in the us and we did  come down and we tested the low down here   around the 2107. if the russell comes down and  breaks this low once again this is going to be   a major reversal in the russell and since the  russell is more sensitive to the business cycle   this would be a significant serious warning  for the rest of the stock market as it stands   this is not the case it has not come  down and broken this low with momentum   and if anything it's actually forming a developing  inverse head and shoulders so i would be looking   for the russell to come down in this area and then  start to break higher if it starts to break higher   it would need to break the previous high over  here to confirm a new trend to the upside so   it's currently neutral i would be neutral on the  russell and i would certainly turn bullish on the   russell if it were to break this high so patience  required on the russell and certainly if we come   down and break this low and we start breaking this  low with momentum that is going to be a serious   warning for the rest of the stock market so the  russell going into next week really is a wait and   see and finally here we have the nifty now the  nifty is structured to the upside and it looks   like we've just finished a large correction  in the nifty and we started to break higher   so any pullback in the nifty is viewed simply as  an opportunity to look for bullish setups into the   next target at the 18012.04 so wrapping up with  XAUUSD, XAGUSD and bitcoin and the first market   we're looking at here is XAUUSD now XAUUSD is an  extremely interesting market going into next week   i tweeted yesterday when i was looking through  the markets it looks like it's set to explode   and i wasn't kidding when i said that there's a  reason for that that very often when we get into   a situation we're currently in now with gold the  market tends to explode one way or the other we're   going to look and see if we can work out which way  this is going to go now let's zoom out here first   just to get a picture of what's going on here in  gold we've been in a major correction for quite a   while stretching all the way back here to august  2020 and the bottom of this correction came over   here we then rallied higher and we came down we  failed as far as i'm aware to take out this bottom   and on the failure to take out this bottom we  formed a major inverse head and shoulders in gold   that major inverse head and shoulders which is a  bullish reversal pattern or a bottom in the market   came right near the low of the correction and it  was confirmed on a break above this high over here   we broke above this high and we pulled back and  what we did was when we pulled back we broke   the previous low over here so we broke this  high confirming the head and shoulders to the   upside and by breaking this low and pulling back  into this area we actually set up a developing   head and shoulders to the downside so we have a  major inverse head and shoulders to the upside   and now we also have a major head and shoulders to  the downside we have a one up one down situation   and what this means is it means one of these  patterns is going to go and when it breaks   after the correction we've had more than likely  we're going to see this market explode one   way or the other now going into next week the  position i'm taking here is a bullish position   i would like to have seen the dollar weakening  that would have helped with this however the   dollar is kind of neutral so it doesn't tell us or  it's not extremely helpful in telling us which way   the gold breakout is going to come because we have  this big correction in an overwatch trend i would   in the longer term favor this to break to the  upside anyway and what we also have here is we   have a confirmed inverse head and shoulders when  we broke this level and we do not yet have a   confirmed head and shoulders we have a developing  head and shoulders so we have to as it stands   give preference to the confirmed pattern which is  the inverse head and shoulders over in this area   if this fails though if this fails and we start to  break down below this low so the 176203 this could   trigger a major sell-off in gold because not only  would we break and confirm this head and shoulders   pattern here but we would more likely come down  we would break the right shoulder of the previous   pattern and we would come down take out this low  and if we took out this low all of these traders   are going to pull their positions and that would  likely start a major sell-off in gold we could   even be coming down to the 1575. so as it stands  going into next week if this market is likely  

to end the correction it's likely to explode  one way or the other i really do want to pay   attention to this because it might take a little  bit of reactivity next week that means watching   the market seeing what's happening and seeing the  market as it develops i will keep you guys updated   on twitter about what i'm seeing in gold as the  market more information comes in and we start to   develop next week but if we zoom in a little bit  further here so we're looking now at the near term   we already know this is a potential developing  right shoulder you can see we also have a smaller   one up one down scenario we have this double  bottom which is a confirmed reversal to the upside   and at the same time last week we actually broke  down and confirmed a potential head and shoulders   here and if you look at where we close the week we  close the week between these two levels so i mean   this is right at the point where it's likely to go  either way so going into next week what i'm going   to be looking for is the following i would like  to see the price of gold breaking above the 1798   0.93 like this and if we start to break higher  and especially if we reverse to the upside like   this this is going to be a great opportunity to  look further advances in gold and we're going to   be looking up to the 1842.97 as a near-term target  but in truth if we break to the upside as i said   i think this market could be set for a bigger move  and i would probably almost certainly in fact want   to hold on to any long positions i got down in  this area because if we break this high that's   where we could see the big momentum coming in and  to the downside if we break this low that's where   we can start to see the initial momentum coming  in but a break of this low could trigger that much   bigger selloff to the downside so alongside the  currency pairs are highlighted in today's video   i am absolutely going to be keeping an eye on gold  because if this breaks i do want to be involved so   let me just summarize this for you to make this as  clear as possible where we're currently structured   and you can see we have this double bottom in  the four hours here with an engulfing candle in   the four hours where we're currently structured if  you want to be more conservative wait for a trend   reversal to the upside the major breakouts would  come above here or below here in all probabilities   and the initial because you'd be  looking at this as an almost a b and a c   the initial move higher is what i'm looking at so  more or less for us to move up from where we're at   but the first warning sign if that's  going to fail would be below here   okay so if we come down and we start to break like  this that is the warning sign that this pattern   has failed and we're going to continue down and  probably make a run for this over here so i favor   long positions in gold next week based on what i'm  seeing but in my opinion this is not a market you   want to be on the wrong side of for too long  because i think it's actually going to make a   break now one way or the other so this market is  structured for a major breakout to the upside but   when you get these setups if they fail you tend  to see a large amount of momentum in the opposite   direction that's the important takeaway for gold  going into next week next is XAGUSD now XAGUSD is actually this should be red this  is having broken to the downside this   inverse head and shoulders here you can see  silver is making its way towards 21.45 the   other thing with silver is though this  was an inverse head and shoulders break   to the upside and just like gold we've kind  of broken and now we're pulling back and   really where you could consider both of these  markets as being neutral but getting ready for   what's likely to be a big break one way or the  other so going into next week i wouldn't really   want to short silver i really would only like to  personally trade gold next week either to the long   side which i prefer but the very best traders  that's the situation where actually you'll find   they close in reverse positions because you get  momentum both ways so it's technically structured   to the downside i personally wouldn't want short  silver next week i'm going to leave silver next   week and i'm going to prefer to focus on gold you  can see as well if we come and have a look at the   gold silver ratio gold is actually breaking to the  upside with momentum against silver so i'd much   prefer to look to gold to break out to the upside  down silver and finally we're going to finish up   the video with bitcoin now bitcoin is trending to  the downside the next care of support is the 3963.  

so any pullback in bitcoin is going to be  viewed as an opportunity for further declines   down to that level and then if we break through  here the next gear of support to the downside   is a 35 452 so that is it for me for this week  guys really like pound longs like cad longs going   into next week specifically like new zealand  shorts and also japanese yen shorts next week   and i'm really keeping a close eye on gold  because it's as neutral as neutral can be   looking like it's about to explode one way  or the other as i said i favor long positions   i will keep you guys posted on twitter as gold  develops next week and hopefully we can get a   nice break out to the upside in gold so with  that said i hope you enjoyed this video and if   you did please let me know by liking sharing  and subscribing a big thanks to everybody who   does that on a regular basis and a big thank you  to everybody who has subscribed to the channel   so far i want to wish you a fantastic weekend  and i want to wish you all the best in your   trading next week and also for the rest of the  year i'll be back again next saturday with a   new video until then the only thing left to say  is take care and don't forget to trade safely

2022-01-09 16:02

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