Weekly Forex Forecast (17/01/22) EurUsd / XauUsd + Forex Trading Plan! [HD]

Weekly Forex Forecast (17/01/22) EurUsd / XauUsd + Forex Trading Plan! [HD]

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hey traders it's john fortune here with this  week's weekly forex forecast i hope you're having   a fantastic weekend we're going to have a quick  review of the key events heading into next week   and something we need to pay attention to is we  do have fomc coming up not this coming week but   the following week and this is having an effect on  the markets and will likely have an effect on the   markets until this event takes place we're then  going to look at the scorecards going into next   week before moving on to the individual currencies  as we always do to assess the technicals of the   currencies themselves and then we're going to  look at the best currency pairs heading into   next week before finishing with stocks gold silver  and bitcoin so if we start just quickly by looking   at the economic calendar for the coming week  we can see there's not too much we need to pay   attention to next week in terms of economic data  we have a u.s bank holiday on the monday and in a   normal trading week the market tends to position  itself or the market's position on the monday and   then they move tuesday wednesday thursday into  friday you get some profit taking on the friday   and when you have a bank holiday on the monday  for example out of the us the markets tend to   do nothing and then on the tuesday they start to  position and then wednesday thursday you can start   to get the move so nothing really major we need  to pay attention to but just something to consider   going into next week i wouldn't get into too many  positions on the monday because the markets aren't   likely to go anywhere on the tuesday we have an  interest rate decision out of japan not something   we need to worry about too much though as it  stands because as we've discussed many times   before in the videos the boj policy is very  rigid and not much ever comes out of these as   it currently stands we do have some inflation data  out of the uk and canada on wednesday so perhaps   we see the markets getting a bit volatile around  there but nothing we need to pay attention to in   terms of planning around or expecting major trend  changes due to those pieces of inflation data   and then on the thursday we have some employment  data out of australia so again very much like the   cpi data we might see some volatility but  it's not something we need to plan around   so apart from the bank holiday on monday where the  markets are unlikely to move there's not too much   to pay attention to heading into next week the  big thing is the following week and you can see   in the following week as already highlighted we  do have an interest rate decision out of canada   and also the us and it's the u.s interest rate  decision which is likely to cause the markets to   be neutral heading into that week and we may also  find the markets don't move too much this week   because of that so with the interest rate decision  out of the us coming out on wednesday of not this   coming week but next week it is likely to make the  next week or two fairly tricky to navigate and i   would certainly be looking to trade less or take  less risk over the next week or two and then once   the fomc interest rate decision comes out start to  look to allocate more capital as fomc on the 26th   is likely to start to provide the next directional  move in the dollar and of course when the dollar   starts to move in one direction or another  you get all currencies across the board and   other assets as well such as even equities and  commodities moving as well so to summarize if the   next week or two heading into fomc are going  to be kind of sideways or lacking direction   i still want to be trading but i'm going to be  very specific with my trades i'm going to only try   and take the best trades heading into fmc and then  i'll look to start to increase risk or increase   capital if we get directional moves from fomc for  the following month or couple of months okay so   looking at the scorecards heading into this week  you can see something quite important here there's   some information which is being given to us and  that is that if we look at the dollar the dollar   has changed from bullish to neutral to neutral the  euro has gained from a minus two to a minus one   the pound has come off of the high of three down  to two the swiss franc has lost two of its rating   from last week back to neutral we have the  japanese yen which is game two conversely to   the swiss franc back to neutral the canadian  dollar hasn't changed it remains at plus two   the aussie hasn't changed at minus one  but the new zealand has come off the lows   from minus three to minus two so so what we're  seeing here is first and foremost look at these   three risk off currencies one two three right  in the middle completely neutral a score of zero   and with both the pound coming off the high of  three down to two and new zealand from minus three   to minus two what you're seeing here is you're  seeing the markets overall becoming more neutral   you're seeing the markets becoming more  corrective you're seeing opportunities drying up   and if you look at the markets from last week  they didn't really go anywhere it was kind   of a sideways week out of the seven markets  which i highlighted the best last week we had   six currency pairs and also gold to the upside  five out of those seven closed in the direction so   five out of seven if you just bought on the open  or sold on the open in the direction you had over   70 chance of making money out of those seven  pairs last week but if you look at the distance   they moved there were no big moves to the upside  and there were no big moves to the downside so we   didn't really see any of those explosive moves  as you would be looking for with the strongest   versus weakest currencies and again if you put  all of this together it shows opportunities drying   up in the markets as of last week and why is that  well we know we have fomc on the 26th and it looks   like the markets are already starting to correct  and turn neutral heading into fomc on the 26th   so the reason this is very important is because  if we go out in markets which are becoming neutral   and we allocate lots of capital and the markets  just chop around we can end up taking more losses   so when the markets here turn neutral yes i will  still be looking for opportunities and we'll look   in a minute at the best pairs heading into next  week but this is what i was talking about when i   said i want to be very specific with my trades and  only take the best trades heading into the next   week or so even if i just took one or two trades  per week over the next two weeks heading into fomc   i would have no problem with that personally  so aside from the very important fact that   the markets are already starting to turn  neutral heading into fomc on the 26th   the standout currency to the upside here going  into next week is the canadian dollar it's held   its rating of plus two and when we go and look at  the markets and the charts themselves you'll see   crude oil is rallying to new highs it's a market  that i like going into next week and the canadian   dollar is really benefiting from this rally in  crude oil we took out the targets to the upside in   crude oil last week my second favorite long is the  pound and the reason this is my second favorite   although we have a score of plus two we are coming  down from a score of three so we're seeing some   downwards momentum in the strength of the pound  it's gone from being very strong to just strong   so because of that i prefer canadian  dollar at long positions next week and   when you look at the rest of the currency pairs  and you see zero zero zero there's nothing really   else to the long side so what this tells me is the  best chance of making money heading into next week   is likely going to be to focus on those canadian  dollar long positions yes we'll look at some   pound longs but the cad long positions are  more than likely going to be the easiest or   the best place to try and make money next week  so i'm absolutely going to be focused on cad   strength next week as a priority and to the  downside the slight problem we have here is   the yen the frank and the us dollar all neutral  so there is no real clear direction in these   and the new zealand dollar although it's the  weakest it is coming from a low of -3 so we're   seeing some bullish momentum coming into the new  zealand even though it's the weakest so conversely   to what we looked at in the pound we really don't  want to see that what we want to see is if the   market is going from a minus one to a minus two  that shows some momentum to the downside but if   we go from minus three to minus two it increases  the risk associated with those currencies somewhat   and again this is just because of the markets  becoming more neutral heading into fomc   so to the downside i do still like the new  zealand dollar simply because it's the weakest   currency although it does have that strengthening  from minus three to minus two and i do like the   australian dollar maybe even slightly more or at  least the same as new zealand because although it   scored less it hasn't moved from last week there  is no strengthening of the australian dollar it   remains weak still so i like the aussie i like the  new zealand the best to the short side next week   and the euro we will look at some euro short  setups heading into next week vis-a-vis the cad   and also the pound but you can see it also has  a bit of bullish momentum going from -2 to -1   so because of that i favor both the australian  dollar and the new zealand dollar to the short   side next week so we will be going and looking  at the markets i would like to look primarily at   uh aussie cad to the downside new zealand cat to  the downside i would also be interested in pound   aussie to the upside pound new zealand to the  upside we will also look at euro pound euro cad   and the interesting setup as well going into this  week is also the us dollar does look like although   it's neutral we could see further weakening and if  you look at this score of zero it actually comes   from a score of one so we're seeing some momentum  to the downside in the us dollar which increases   the risk of that continuing into next week so we  will also be looking at some dollar short setups   pound dollar to the upside and us dollar cad to  the downside which i like next week when we go   through the charts so let's have a look at the  individual currencies heading into next week   and you can see the us dollar is structured to the  downside having broken out of this range over here   and what's interesting about the us dollar is i  discussed in the scoring system that it is neutral   has a score of zero but when you come and look  at the individual currency itself or you look at   the index here this is clearly telling you if you  are going to choose one direction or the other for   the dollar it shouldn't be to the upside so if  you're going to go and trade a neutral currency   or the dollar in this case we would really want  to look for that us dollar cad to the downside   perhaps pound dollar to the upside as opposed to  let's say us dollar or new zealand dollar so new   zealand dollar versus us dollar to the downside  which would be dollar bullish so the individual   assessment here is showing us that if you want to  trade dollars next week the best direction would   be to the downside not to the upside and what  we could be seeing here is we could be seeing   one more down next week into the target the 9462  the market gets corrective and then if we get a   hawkish fed the following week we find a low down  in this area and then rally because i do think the   dollar actually comes up and takes out this high  at some point so my base case here is for one more   down in the dxy next week we then move sideways  and start to bottom perhaps with a double bottom   and then we get a hawkish fed and we see a rally  from fomc on the 26th so i don't usually like to   go too far ahead because i like to trade what's in  front of me however that's what i think we could   be seeing in the dollar over the next two weeks  next is the euro the euro opposite to the dxy   we have broken out of this what actually  looks like an ascending triangle pattern here   and we've broken out with momentum and it  looks like we're now forming a ball flag so   again conversely to what we just said in the dxy i  wouldn't be surprised to see this making one more   up forming a double top here and then in fomc week  we start to see this continue down because just   like i expect new highs in the dollar i think  there's a very good chance we come down and   we make new lows and this is just a big kind of  bear flag as it stands and you can see this rally   this breakout to the upside is what has caused  that strengthening of the euro from -1 to -2   so the individual currency assessment yes  the euro is minus one heading into next week   but i'm not a huge fan of euro shorts because i do  think we could see one more up before a sell-off   heading into fmc next is the pound the pound is  structured to the upside it was rated as the best   long last week and we did take out both targets  to the upside there is some momentum in the pound   here and especially if we're going to get one more  down in the dollar heading into fomc i think we   also see another rally in the pound could very  well come up to the target at the 1.3829 so i am   still bullish on the pound even though it has lost  a little bit of its strength compared to last week   next is the swiss franc the swiss franc actually  got kind of choppy last week we came down we   bounced and then we came up and took out the  target almost to the pip in fact i think this was   pretty much to the pip here so heading into this  week i am on balance looking further advances   in the swiss franc but because we have two things  we have a neutral rating in the swiss franc first   and foremost of zero and we're sitting right at  the previous high over here we may just kind of   move sideways so again i think there are better  currencies to trade next week than the swiss franc   and if you look at the scoring system we actually  have some weakness in the swiss franc from two   to zero and at the same time it structures to  the upside so the swiss franc to me is fairly   neutral and i'm not sure i want to get tied up in  the swiss franc heading into next week too much   next is the japanese yen now the japanese yen has  a neutral rating however you can see overall this   is still structured to the downside and because  of this on balance i would prefer to look for yen   short positions if i were going to trade this as  a neutral currency i'd be looking for a breakdown   and for this to head down to new lows so again  i think there are better markets to trade   than the yen pairs however because this is  still technically structured to the short side   you can see cad yen and also pound gen are two  currencies which i will be keeping an eye on next   week next is the cad now the canadian dollar  took out both targets to the upside last week   and it pulled back from the second target it  is now forming what looks to be a ball flag   and i would be looking for any pullback in  this area as an opportunity to look for further   advances in the next rally into the 0.8040 and  if this rally takes place next week this is the   move i think has the best chance of paying us  in what could be a tricky week to navigate with   fomc looming on the 26th so this move to the  upside in the canadian dollar is something   i'm going to be keeping a very close eye on next  week next is the aussie the aussie took out bow   targets to the upside last week and having done  that it sold off and it kind of fell back into   this correction and you can see the reason this is  struggling to find any real momentum to the upside   is because overall this is a corrective move this  is a counter trend move so yes the trend near term   is to the upside however when you have counter  trend moves they are tend to be choppy so they do   this and then when you have moves in the direction  of the trend they're explosive and that's why we   always want to be looking for moves in the  direction of the trend because by their   very nature by their construct they are better  opportunities and more explosive opportunities   especially if you can find these what you might  refer to as impulse waves in the direction of   the trend but also between the strongest and  the weakest currency because not only are they   explosive they're the most explosive because  you have a strong and weak currency and that's   what always trying to identify here so the aussie  is still technically slightly bullish but it's in   a correction and when we look at the rating it's  minus one so again this is showing you the markets   are kind of neutral there's no real easy pickings  here where we would come into the markets and say   yes the canadian dollar for example is a  plus three and the aussie is a minus three so   aussie cat to the downside is a great  short so just underscores the need   to find the real best opportunities over the  next week or so and not to take too much risk   in my opinion next is new zealand dollar we  took out the target in the new zealand dollar   and we sold off very similar to what we saw in  the aussie and again this is just for the same   reasons is that this is overall a corrective  move so any rallies to the upside lack momentum   because it's counter trend and at some point we  should be expecting this to break down to new lows   but again you can see corrective currently  structured to the upside technically speaking but   a rating of minus two okay so let's have a look  at the charts then heading into next week and   see if we can identify the best opportunities in  the markets themselves we're going to start with   your dollar because we always do euro dollar every  single week because so many of you request it and   so many of you want analysis on it however i don't  think it's one of the best opportunities this week   and this really mirrors what was discussed  in the dollar in the euro which is that we   do have a rally with momentum and it does look  like we're set for further advances but overall   this looks to be a correction and i wouldn't be  surprised to see as i said EurUsd pulling back   rallying into the 1.1513 to a new high and then  that being the end of this correction essentially   heading into fmc where we get this double top  and we start to come down for this low over here   that's what i'm looking at in EurUsd but again i  don't think it's the best opportunity next week   but that's what i'd be looking for next is crude  oil now crude oil is very important because you   can see we took out the target to the upside last  week and it does look like we're coming up to the   8575 in crude oil i have this highlighted in gold  because as a commodity trade this actually looks   like one of the better opportunities especially  if we're going to see one more down in the dxy   next week if that's going to happen it does  look like we're going to rally to new hires   taking out the 85-75 so i like crude oil to the  long side next week and this also underscores   the position of having the canadian dollar as  the favorite pair going into next week as well   because any rally in crude oil should help  support canadian dollar to the upside too   so the first currency pair here is new zealand  cad of course this is the weakest currency the new   zealand versus the strongest currency which is the  canadian dollar we've already started to pull back   so any continued correction in this market would  be viewed as an opportunity to just view this as   a correction of this move this bare leg maybe we  can pull back probably don't pull back to here   that would be a pretty steep move but any pullback  in this area is viewed as an opportunity to look   for bearish reversals down to the next key of  support 0.8460 australian dollar is next on  

the list here and you can see we've already  pulled back and we've started to sell off   in aussie cad so any continued pullback in  this market next week i would be looking at   this as a potential opportunity to go short down  to the next year of supporting the target at the   zero point eight nine seventy next is eurocad now  this is not highlighted in gold because as i said   if we get one more down in the dollar next week  and we get one more rally to the upside in euro   this might be a little bit choppy so i favor new  zealand cad and i favor aussie cad however based   on the scoring system any pullback in this market  would still be viewed as an opportunity to look   for shorts into the 1.4170 next is us dollar cad  now i've highlighted this as gold because although   the dollar actually scores as being zero which  is stronger than the euro at -1 we did discuss   that potential fomc set up whereby we get one more  down in the dollar and if we are going to get that   certainly us dollar cad to the downside would be  a good one for next week what i also really like   here is we have very strong momentum in us dollar  cad breaking below this kind of correction here   and this is really indicative of further decline  so any pullback in us dollar cad next week will   be viewed as an opportunity to go short into the  1.2432 and this is where we could actually start   to see our double bottom taking place before  fomc when we get hawkish fed and we start to   see a rally from this area so actually although  new zealand and aussie cad score better than us   dollar cad because of the way this is technically  structured in fomc i think us dollar cad may even   be my favorite opportunity or currency pair  heading into next week next is kadyan now kajan   is kind of corrective however i am still bullish  on this and the reason this is highlighted in gold   is because the japanese yen is still structured  overall to the downside in the bigger picture   so what i'd like to see is any continued  correction i'd be looking for potential reversals   to the upside in this market i'm going to be  looking up towards the 92.96 next is cad frank  

now although i am bullish on cad frank and  actually we have really nice momentum and ball   flag setting up the reason this is not listed over  here is because the frank doesn't score as well   as the new zealand and the aussie to the downside  and we also don't have the fact that the frank is   overall in a bear market like the yen and the us  dollar heading into f4mc with that fairly unique   potential setup so i am bullish on cad frank but  i prefer the highlighted cad pairs here in gold   any continued pullback is viewed as an opportunity  to look for bullish reversals into the 0.7364   next is pound new zealand now pound new zealand  was a market highlighted this last week to look   for potential bullish setups and you can see  here we did pull back and when we pulled back   this was an opportunity this was essentially  you could see this as a mispricing because   we already established the pound was strong and  the new zealand was weak and so when we had the   sell-off that was the opportunity and you're  never going to pick the bottom of course but   anywhere in this area you could have looked to  go long and we are now heading for the highs and   if the pound remains strong as it currently  is we should be heading on to the 2.02620   so any pullback in this market is once again  simply viewed as another opportunity to go long   into the kia resistance highlighted here next  is pound aussie pound aussie was also a market   highlighted to the upside last week and again  we had this sell-off and as we sold off this was   the opportunity again for a mispricing because we  knew this sell-off was against what we were seeing   in the currencies the pound was strong the aussie  was weak and of course rebounded and snapped back   now at the highest so any pullback for anybody  not involved from last week any pullback would   be another opportunity to look for bullish setups  into the next care resistance the upside at 1.9145   next is euro pound euro pound was a market  highlighted to the downside last week and we   did kind of drifted sideways in this market we did  pull back somewhat and started to sell off so if   anybody not involved from last week any pullback  once again would be viewed as an opportunity to   further declines into the 0.8 to 870 but this is  not a preferred pair next week why because if we   do get one more rally in the euro this is probably  just going to continue sideways so i prefer pound   new zealand and i prefer pound aussie and i also  prefer pound yen and pandola as we're going to see   over and above euro pound next week next is pound  yen this is highlighted in gold purely because   we have the second strongest currency versus  the japanese yen which is still in a downtrend   so at any point we could see that reversing lower  and if that's the case any continued pullback i   would be looking for a reversal in this market and  that would set up opportunities into the 158.20   so i don't like the pound pairs highlighted here  as much as i like the canadian pairs especially   us dollar cad to the downside and then new  zealand cad aussie cad but out of the pound pairs   next week pound gin is one of my favorites next  is pound frank i am bullish on this market however   as we saw the franc is really neutral and again  compared to the other markets i don't like this   as much but any pullback in this market is  still viewed as an opportunity to look for   longs into the 1.2588 but not highlighted as  one of my favorite opportunities this week  

and finally we have pound dollar highlighted  in gold why because of that specific   one more down in the us dollar which it looks  like we could get next week that bear flag in   the dxy which is setting up and if we get one  more down in the dxy we are likely as well to   see one more up in the pound versus the dollar  first to the highs and then on to the 1.3827   so pound dollar highlighted as one of the better  opportunities next week us dollar cad i think is   my favorite probably then followed by pound dollar  then i like the new zealand and aussie cad setups   and then finally cad yen and  pound jeon if i had to order these   from best to worst okay so wrapping up the video  here with stocks gold silver and bitcoin starting   with the spx now what we've seen in the spx over  the last month or so is we saw towards the end of   november last year we saw tech stocks rallying and  tech stocks started to come down around the 22nd   of november last year the beginning of december  and as the tech sector has corrected this   has weighed on the s p 500 because the tech  sector is the largest weighting in the s p 500   and what we're starting to see is the tech stocks  look like they could be coming towards the bottom   and we could be starting to rally again in the  tech stocks over the next few weeks if that's the   case you will see this having a positive effect  on the spx and although not much happened last   week as it currently stands this should still only  be viewed as a correction so i am looking further   advances in the spx and going to be looking  up towards the target highlighted last week at   four eight one five point zero four in other words  looking to make new all-time highs here in the spx   so i am bullish on the spx however because it's  kind of correct in moving sideways and because   tech stocks haven't yet bottomed i would still  have some hedges in place i'd prefer to be long   in the form of a long short portfolio as opposed  to outright bullish on the spx next is the nasdaq   now the nasdaq actually broke lower and this is  just as i said because we have seen a decline   in tech stocks from the end of november last year  or the beginning of december through to today but   i would not be surprised to see the nasdaq  coming and breaking back above the 1610.20   so we're currently structured to the downside  i am somewhat bearish on tech but as i said we   could be coming in the bottom so i personally  wouldn't want to go out and just short this   i would be patient on tech stocks look for nasdaq  to break the 16010.20 and that would in fact be   the indication start to look long on not just the  nasdaq but tech stocks in general as well so yes   technically bearish here on the nasdaq but this is  telling me to be patient and wait for a reversal   higher to get long because i do not think as it  currently stands the indices are setting up to   crash so any break high in the nasdaq would set up  a reversal and i'd be looking for new highs once   this was broken and that would be the sign as well  that we could start see the tech sector picking up   and with that would come the spx next is the dow  jones not too much happened in the dow jones last   week we kind of just moved sideways so i am still  bullish on dow jones and any correction is viewed   as an opportunity to look further advances to new  all-time highs at 36 986.88 again i wouldn't want   to be naked long on this but i would want  to be net long in a long short portfolio   next is the russell and small caps the small cap  sector is forming an inverse head and shoulders   which of course is a bullish pattern but it's  developing it has not yet broken or confirmed this   and the russell is really in a position where  whichever way it breaks here it's likely to   break with strong momentum if it comes back up  and breaks and confirms its inverse head and   shoulders we're likely to see a strong rally  to the upside if it comes down and breaks the   head here or the low of the 21070 well there's  likely to be a number of stop losses here and we   could break in this direction with momentum so as  it currently stands i would personally be neutral   on the russell and i'd wait to see which way this  breaks in order to get a better understanding of   the next moves in small caps and since the  russell leads the other indices and since   small caps lead the business cycle if we do come  down and break the 2107 t and we do this with   momentum that actually would be a warning sign  and we would have to take note and reassess what's   going on here in stocks because that could well  be an indication that other indices are likely   to follow so very important keep an eye on the  russell seeing the next directional move and   as it stands i would rather be patient on small  caps and the last stock market here we're going to   look at as always is the nifty now the nifty has  taken both targets to the upside last week and the   interesting thing with the nifty is what did we  see last wednesday we saw indian cpi data coming   out higher than previous but less than expected  and this could be a sign that we're starting to   see inflation peaking in india well what does this  mean for equities well if we're going to start see   inflation peaking it's going to start to come down  this reduces the urgency of the indian central   bank to step in with hawkish measures and policies  which would be a headwind for indian equities in   in other words it would apply downward pressure to  the equity market and so if you remove the urgency   for hawkish policies this does become somewhat of  a tailwind this is supportive of equities so i do   think there's a very good chance we see indian  equities heading to new highs at the 18594.90 so  

i am bullish any pullback in this market would be  viewed as an opportunity to look further advances   into the 18 594.90 and i think on balance indian  equities are probably looking slightly better than   u.s equities as it currently stands and finally  we have gold silver and bitcoin now last week gold   was the market out of all the markets which i was  focused on the most and i spent six whole minutes   of the weekly forex forecast last week covering  gold so we're not going to go into it in detail   this week because if you want to see a more  detailed overview of gold you can look at last   week's assessment but in last week's video i did  highlight the fact we were right at a point where   we could explode in either direction and we have  this major double bottom which was retested and it   was retested with a head and shoulders so we had  this kind of one up pattern and one down pattern   and this still remains the case because last week  we actually had an inside week in gold and in last   week's video i highlighted there was a double  bottom down here and i was looking for gold as i   said last week to rally pretty much from where we  were we had this double bottom we rallied we have   not taken out the high over here and of course  this high and this low are the two key breakout   points to take note of in gold so going into this  week i am still bullish and in fact i'm long from   the double bottom highlighted down here and i've  moved my stop losses very close now so i have very   little risk on this what i'm looking for is i'm  looking for the break higher above this high this   week there is a near-term target of the 1842.97  however as i stated last week if we do break this   high up here what i'm really looking for is for  XauUsd to break with momentum and i'm unlikely   going to be taking profits at 1842.97 what i want  to see is this starts a new trend to the upside   and potentially even heading up to the 2000 level  and maybe higher because again as we discussed   last week the overall trend is to the upside and  we may be coming towards a much larger correction   in an uptrend so the gold analysis more or less  remains unchanged from last week i'm looking for   the break higher and as i said last week because  of the unique way this is structured if this fails   and we do not break this high but instead we come  all the way down from where we are failing to make   a new high and failing to break this and we break  here there will be lots of stop losses including   where my original was and they will be taken out  and that could actually cause a cascade to the   downside so again if you want a bit of a deep dive  on gold you can look at last week's video because   i spent six minutes looking at in more depth  and the same analysis applies going into this   week since last week we just essentially had an  inside week so if we are going to continue lower   in the dxy that does actually point towards a  breakout and it would be the first XauUsd breakout   as far as i can remember over the last three  including this so this one and the last two   that if we were to break higher the dollar would  actually be bearish as it currently stands as   opposed to previously bullish which actually  broke the back of the previous gold breakouts   so gold is still a very important market to  keep note of and pay attention to next week   next is silver now last week i highlighted the  fact that silver was actually structured to   the downside as you can see here but because the  dollar itself is quite bearish i personally would   not want to short silver so i would be looking for  one of two things in silver first of all i'd be   patient and if we break above the 2341 that would  be the sign to start to look for further advances   in silver and if the us dollar instead of being  bearish say reverses and we start to turn bullish   and silver comes down further like this and  breaks out that would be the opportunity if   the us dollar turned bullish to start to look  for this to the downside so as it stands we kind   of have the opportunity to trade this both ways  because gold is structured to the upside silver   structure to the downside however i prefer the  dollar weak setup which is XauUsd to the upside   again we covered these in a lot of detail in last  week's video so patience required on silver in   my opinion i wouldn't be surprised to see this  break higher and finally we have bitcoin now i   have been bearish in previous videos on bitcoin  and we came right down to the target of the 3963   because we missed this we actually came down  to the 39 650 instead of 630 i am leaving this   target on and looking for further declines any  pullback as it currently stands is still viewed as   an opportunity to look for short setups into the  3963 and then if we break through here down to the   35 452 so that is it for me for this week guys  the key takeaways here are that the markets in   general are starting to turn neutral opportunities  are drying up heading into fomc on the 26th so it   really is not a time to go gung-ho in the markets  and there's no real low-hanging fruit heading   into this week the best plan leading up to fomc  is going to be to be patient to be disciplined   and to pick only the best opportunities as you  see them in the markets so as always i hope you   enjoyed this video and if you did please let me  know by liking sharing and subscribing a big thank   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 the only thing left to  say is take care and don't forget to trade safely

2022-01-18 12:03

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