what's going on traders welcome to this week's forex forecast if you're new to my
channel hit that subscribe button and don't forget to check out the patreon
or the youtube membership for my daily chart analysis i hope to see you there
all right first looking at the us dollar car reports for the dxy the past week the banks
added 2 000 longs and they added 1251 shorts as we are contacting this daily area of supply
if you remember last week i talked about how you should be very careful buying at this supply zone
uh looking considering the dxy and clearly you should have been based on the move as we've seen
move down so now it's all a matter of is this zone going to break which it's very possible it
could then we will have a daily uptrend on the dollar and i'll be much more bullish than i am
right now so waiting for that to happen and if it doesn't it's probably going to push lower here to
this daily demand which could hold price for a bit too so keep an eye out for those two zones
the first indication that price is going to drop lower in the dollar
is their removal of this demand zone here a good indication that that daily supply zone
is going to break is if this makes a new high and the zone reacts perfectly so definitely
keep an eye out for that four hour zone as that is what's going to be trying to hold up price
all right on to euro usd the past week the banks added 2 800 longs and 18 000 short positions which
is leaving them basically 52 percent long and 48 short on the euro we're basically in
between supply and demand right now if this daily zone gets broken on the euro i'll be interested
in trading the daily four hour one hour time frame i will be looking for one hour pullbacks
and if you want to get my zones make sure to check out my patreon you can get those zones
because if that happens you know price can break lower then you can hop over to the one
hour chart and find the nearest zone and that's most likely what i'll be taking other than that
on the euro we still have this beautiful four hour downtrend so i'm not really bullish until that
zone is removed and that trend line then i will start to look for longs on the four hour chart
and that will be basically confirmation in that daily demand and monthly demand
it's a pretty aggressive setup but i think it could work so like i said just waiting
for this momentum shift to happen and if it doesn't like i said we're gonna wait for this
low to be removed here on the euro and then i'll switch over to trading the daily
four hour one hour time frame so those that is what i'm watching on the euro usd right now
all right on to the aussie dollar the past week the banks added 11 000 longs and they
actually added 13 000 short positions which leaves them 82 percent short on this pair
uh so it's pretty telling i guess for what the banks are trying to do with the us
dollar pairs here so same thing as the euro we're basically in between supply and demand right now
actually now the euro is in demand but we're basically in the middle so i basically am not
trading the daily four hour one hour time frame at all right now if you come to the four hour chart
in the live stream you're talking about this with some of the people in the stream
we had that confirmation move up but i don't like this demand though i don't like this demand zone
that price is in right now i think that there are a bunch of stop losses under here so i would
not really be interested in going long in this area just yet because i think we could see some
manipulation to the downside to stop everybody out that's just what i could see happening
so i'm much more interested in buying the aussie as it breaks that supply zone up there
and when i'll switch to short bias is when a new low is formed here and then i'll start to look for
four hour one hour 15 minute setups on the aussie but for right now i'm not really seeing anything
that's tradable in this pair for all you day traders out there there's a one-hour supply zone
we're reacting off of right now and then there's some one-hour demand zones below you could look
for confirmation in as you can see it's my zones work pretty well so you could always look for a
confirmation in these zones here so just wanted to show you the one hour if you're a day trader
alright on to the british pound gbp usd the past week the banks added thousand seven hundred longs
and they added twelve thousand seven hundred short positions so now they are fifty fifty
fifty percent short fifty percent long on this pair if you look here we're in a daily demand zone
right there um it's kind of similar to the euro i don't really like a zone like that when it's at
the low that's just my personal opinion uh because i do think there could be some stop losses under
here kind of just like the aussie um with that being said i'm not really interested in going long
or short right now for me to go short i'm gonna have to basically see a new low formed which would
create a beautiful daily downtrend then i'll be trading the daily four hour one hour time frame
if you look at the four hour chart we did have some decent confirmation but i do believe it's my
personal opinion that this zone is going to break and we're going to see a push lower that's just my
bias for this week but you could technically be looking for 15 minute confirmation coming out of
this four hour zone if you're a day trader just be very careful if you do maybe just look for a one
to one or two to one one hour chart there's really no not a lot of clear zones at all either so
right now i am just sitting on my toes waiting to see this daily chart to see you know is price
gonna break the zone are we gonna start going higher if it starts to go higher we'll have a
four hour and one hour trend which then i'll trade the four hour one hour fifteen minute time frame
all right on to usd jpy the past week the banks got rid of 3 000 longs and they added 1100 short
positions which leaves them at 78 long we are reacting off of this very very tested daily
area of supply i believe there's a lot of stop losses up here that are going to be triggered
but looking at this daily charts very weak so i'm actually over on the four hour
one hour time frame right now i am looking for 15 minute pullbacks in this market right now so far
i do not see anything of quality that i would have taken so now what i'm waiting is for a new high to
be formed looking for a continuity continuation pattern and looking for a pullback to get long
on the 15-minute chart so that is really the only time frame sequence i would be trading right now
because that daily is very choppy right now we are in a one-hour area of demand that's
not the best area of demand but it could be what fuels price to the upside which will give
me that 15 minute entry opportunity but it is possible that we do see a nice push lower here
i'm just going to have to be patient on this one but it is one
that is on my watch list for the four hour one hour fifteen minute time frame sequence
all right looking at usd cad the past week the banks added 871 longs and they got rid of a
big 17 700 short positions they are now 71 percent long on this pair and that's as we react right
off of this daily supply zone here that that i talked about in all of my weekly forex forecasts
so definitely go back and check those out and watch me talk about those uh for sure
so it's kind of a weird chart in the daily not really trading the daily four hour one hour
i am interested in getting in short possibly once this four hour supply is removed
because then we'll have a nice four hour downtrend and we'll have a one hour downtrend uh where i
will then look for i'll hop to a 15 minute chart and i will look for basically something like this
where we get a push down and then sells at the nearest 15 minute supply zone as long as a high
quality one according to my own rules so that's basically what i'm waiting for on usd cad right
now i don't really see any opportunities for swing trading right now it's a very
it's just very sideways right and if you're a day trader this is a tested four-hour zone so i don't
really want to be buying in here and just that's just my opinion there is a four-hour supply zone
above you could definitely look for a 15-minute confirmation in there i think that that would be
fine but like i said since the higher time frame charts aren't really showing much maybe just look
for a one to one or a two to one if you do decide to look for confirmation in in that zone if you
don't know what confirmation is check out my tips playlist link is in the description i have a video
on confirmation trading and exactly what i look for when doing that so definitely check that out
all right looking at the swiss franc the past week the banks added 400 for sorry 4 600 longs
and they added 1200 short positions which leaves them at 69 percent long and 31 short this pair we
do have a daily uptrend on this pair it's one of the only us dollar pairs that we do have a daily
uptrend so i'm currently waiting for the four hour to begin up trending if you come to the four
hour here prices sideways so what i'm waiting for is for this four hour to make a new high
then i'll be looking for one hour pullbacks to buy to continue trading with that trend
if you're a day trader this was a nice 15 minute confirmation zone to look for in
there one of the good reasons to be a patreon member for sure because you could have looked
at my zone and looked for confirmation in there so definitely check out that patreon for that
um but as far as the one hour and the four hour goes i don't see much right now
um you could look for confirmation in this daily area of demand i don't think
it's very high odds though i think it's better if price starts to go up for longs and if this
daily demand gets broken you know during the week then i think we're probably going to go much lower
but it's all going to depend on the dxy the dollar index to see really the direction of the us dollar
all right on to gold the past week the banks uh got rid of ten thousand longs and they added nine
ninety seven hundred short positions which is leaving them at seventy three percent long
uh on gold in the live streams we were talking about this daily demand zone here it didn't
really accomplish anything so it's not the best demand but we did see a nice reaction
off of that so if you did get in long and take profits on a lower time frame
good for you um there are some daily area supplies up here that could hold if price does decide to
push up on gold but right now i don't see really any trading opportunities considering that this
daily is kind of just going sideways right now it's not really trending so as far as the daily
four hour and one hour entry goes there's really not much i am interested in the four hour one
hour 15 minute time frame though because we have a beautiful four hour downtrend right now very clear
uh we also have a one hour downtrend right now as well right so what i'm waiting for i have an
alert set right here is i'm waiting for a new low to be formed and then i'm waiting for 15 minute
pullbacks to take uh in that downtrend on the four hour one hour 15 minute time frame and i will be
looking for that during the live stream next week so definitely check that out i will be going live
during the new york session and this will be uh gold will definitely be on my watch list to get
in short if price pushes lower so that is what i'm waiting for on gold just kind of sitting
on my toes for now and not trying to hop in early or anything i am just waiting for a nice push low
all right last but not least oil the past week the banks got rid of 6 000 longs and they got
rid of 7 000 shorts which still leaves them at about 77 percent long we are coming up to tested
weekly supply but the daily has showed a shift in momentum now we have a very clear shift in
momentum i wouldn't call this an uptrend yet um but i'm actually very interested in buying oil on
a 15-minute chart just like a lot of the other pairs right now you're seeing a theme because
we have a four-hour uptrend we have a one hour uptrend so i'm on the 15 minute chart looking for
pullbacks i haven't seen anything yet i had a i had a basically a buy signal right here
but price never really filled me up filled me in so i couldn't really get filled on that but
it's all good so now what i'm waiting for is a new high to be formed and then like i said the theme
of this video is 15 minute time frame entries i'm waiting for a 15 minute entry but right now i know
that it's best for me and my strategy to you know continue to wait uh for a new high to be formed
so i can get a very clean entry on the 15 minute time frame um i would just be careful of all this
overhead supply but my ultimate target for oil is at least eighty dollars a barrel i think we're
going to get there uh probably within the next couple months that's just my opinion probably even
quicker so that's basically the time frames i'm trading uh the four hour one hour fifteen minutes
all right everyone thanks again for watching this week's forex forecast if you enjoyed this video
don't forget to hit that like button and hit that subscribe button as well if you don't mind
i really appreciate all the support let me know in the comments down below what
pairs you're looking at this week and you know maybe we can get in touch and you can
send me a chart and let me know what you're looking at i always like looking at charts
so with that being said let's have a great trading week and let's make some money cheers