Weekly Forex Forecast (08/11/21) EurUsd / XauUsd + FULL PROCESS! [HD]

Hey traders it is john fortune here with this  week’s weekly foreign exchange forecast i hope you are all  . having a fantastic weekend we’re going to kick  off as we always do with a quick review of the  . key occasions heading into next week i am additionally going  to look at the occasions from last week as a end result of it  . was numerous information coming out final week it  was quite a busy week last week we’re then going  . to look at the relative forex evaluation we’re  going to take a look at the scorecards for the currencies  . heading into this week we’ll then do  the individual foreign money analysis we will  . have a glance at the currencies on their very own we’ll  match these two together and we want to actually see  . those two things confirm within the relative foreign money  evaluation and the individual foreign money analysis  . once that’s carried out we will go and have a look at  the currency pairs in order ranked best of first.

We’re going to look at one of the best markets heading  into next week as proven by the scorecard system  . and that actually obtained us in entrance of some good strikes  last week pound franc especially is a market that  . we famous in last week’s video the pound was  weakening the franc was strengthening within the  . scorecards and it was a market which had a very  good selloff to the draw back and a market which  . may have been traded final week regardless of the fomc  meeting we had on wednesday because it’s not going  . to be as efficient as we discussed final week as  say pound aussie pound new zealand so pound frank  . to the draw back was an excellent commerce highlighted in  final week’s video and as quickly as we’ve appeared on the  . foreign money pairs going into this week we’re going  to finish as we all the time do by looking at stocks  . XAUUSD XAGUSD and bitcoin and both in stocks gold  and silver there are some very fascinating issues.

Happening we mentioned last week in shares that  it looks like we could be coming in the direction of a peak  . in shares and we’d see a nearterm correction  that’s still the case and we’re going to take a look at  . that once more however XAUUSD and XAGUSD are something  we actually want to concentrate to this week  . because it seems like we have a major potential  breakout in XAUUSD and we’ll discuss that  . in additional detail and if that’s the case it appears  like XAGUSD can additionally be going to observe so we additionally  . need to take that into account after we’re trying  at the currencies and in addition the dxy this week so  . quite a bit to unpack in today’s video and we’re  going to place all the pieces of the puzzle collectively  . to struggle gamer plan going into this week and  i’m going to share my plan with you guys  . so let’s begin by taking a look at the key  economic information from last week as a outcome of there.

Was a variety of key dates coming out last week we  firstly had the rate of interest determination  . out to australia there were no changes to  the rate of interest and the rba stated that  . uh inflation circumstances were likely to proceed  interest rates had been going to stay low  . until 2024 doubtlessly at the finish of 2023 they  would look at elevating charges but they highlighted  . 2024. so rba reiterating their persistence  in terms of raising rates we additionally had  . employment dates popping out of new zealand this  is essential to pay attention to as a result of we had beat  . on the employment change and the unemployment  fee and after we go over to the scoring system  . you will note the model new zealand dollar is holding up  higher than other currencies and it is one thing  . to pay attention to going into next week and new  zealand power performs are something i might be.

Keeping my eye on going into subsequent week we additionally  had fomc on wednesday was a bit of a nonevent  . fed chairpal got here out reiterated the need  to taper but additionally added in slightly bit of  . uncertainty by saying that if anything modified and  they wanted to deviate from their tapering plan  . they might accomplish that now that could imply they might  be more hawkish by method of tapering quicker or  . they could deviate in a extra dovish way and  actually scale back the rate of taper and and so on  . so it didn’t really imply something in particular  however the market took it extra as a type of dovish  . taper by including in that potential uncertainty or  that caveat when discussing tapering so the fed  . was being purposely vague as traditional and the market  took it as a kind of dovish taper and on thursday  . which is very important something we need to  take observe of is that the financial institution of england.

Kept charges on hold the market was taking a look at a  risk of a rate hike though as far as i’m  . conscious it wasn’t shown in the financial calendar  final week and there were only two out of nine  . financial institution of england officials who voted for a rate  hike so even the vote itself was not doubtlessly  . hawkish and the market is now pushing this back  and looking for the bank of england to begin to  . hike in december as an alternative now the explanation this is  important as a outcome of it triggered a giant selloff final  . week in the pound we were already looking at  pound shorts in final week’s video and it does  . make the pound very enticing going into this  week and when we take a look at the scoring system  . the scoring system is underlining the truth that  pound shorts are going to be something we really  . want to keep a watch on going into next week and  in reality pound shorts next week are my favourite.

Play out of all the markets and all of the  alternatives that we’re looking at in the forex  . markets gold and silver very attention-grabbing setups  we will look at as properly however currencies  . pound shorts are looking like a few of the  greatest plays going into next week i’m going  . to be preserving my eye on that and if we come  down lastly to the end of final week we had  . employment knowledge popping out a success and a miss  from canada so nothing actually directional right here  . and in phrases of nonfarm payrolls we had a beat  which did not really do a lot for the dxy itself  . we noticed the dxy rallying a little bit however we also  saw shares primarily spiking larger on this nfp  . print however as we’ll see when we come to the stock  market we have to be somewhat bit careful because  . it does look like we will get some  nearterm corrections doesn’t mean i’m brief.

On shares but as you will see it is really kind of  a revenue taking opportunity for my part start  . to take some earnings off the desk perhaps even  start to look at some of these brief positions  . for a protracted short portfolio should you’re working a  long brief portfolio but once more all that is come  . after we look via the charts and if we finish  off here simply by wanting at the upcoming knowledge for  . this week you can see we do have some speeches  coming out from bank governors these can transfer the  . markets they’ve the power to maneuver the markets  however these are not really something we plan round  . or plan for upfront when you see some volatility  coming in you will know why but again like an  . interest rate choice this is not one thing the place  i should say unlike an rate of interest choice this  . just isn’t one thing which i would be planning trades  around we do have some cpi knowledge popping out on.

Wednesday cpi data connects to the catalyst don’t  be shocked see it get risky on wednesday and  . we’ve some employment information popping out thursday  from australia again can act as a catalyst but  . it’s not something we want to plan prematurely  for and plan trades round does not fairly have the  . significance of say an rate of interest choice so  not too much we have to plan forward for this week  . we do have a us financial institution holiday on thursday so if  the market simply goes nowhere on thursday it is very  . very boring then do not be stunned and you’ll  know why it is because it is a us bank holiday  . so not an excessive quantity of occurring this week but definitely  issues we can take from the economic events final  . week to offer us points as indications  of plays and setups going into this week  . so trying on the scores on the doors for this  week what’s fascinating to note is that first.

And foremost you’ll find a way to see the us greenback only really  appreciated by one level from completely flat final  . week this was not the significant transfer within the u.s  dollar and actually as a outcome of we’re scoring this one  . to 4 anything you see between one and minus one  you should really be taking as a impartial market so  . what this is telling us is the dollar is barely  bullish to impartial in the same way that the yen  . and the pound are barely bearish to impartial the  aussie is totally neutral it is completely flat  . and the only real currencies showing potential  for opportunity this week are the swiss franc  . and the model new zealand that is to the upside two  out of four and once more if we’re two out of 4  . or three out of four that is sort of the  candy spot the place we want to see currencies  . so as to start out on the lookout for positions or buying and selling  opportunities in these markets and to the downside.

Which is in my view the most fascinating facet  of the scorecards this week we had the pound  . weakening from 2 which it was final week which  was signifying this was an excellent quick final week  . and we’re now down to minus three so with the  failure to hike and that solely two dissenting  . voices in the bank of england voting for fee  hikes this has most likely set the stage now for  . the pound main into december and it seems  like we will see a continued weakening  . of the pound going into subsequent week so you realize  what’s the level of looking at these scorecards  . properly it’s to try to find the place the alternatives  are going to be can we keep away from the markets which is  . going to move sideways or be choppy and might  we become involved within the markets most likely  . to move so in my opinion based mostly on this it does  counsel pound shorts should be a major factor.

To search for next week and definitely as my plan is  once more you guys are free to commerce just as you want  . but for my plan i will be focused totally on  pound week setups subsequent week if i can get one or  . two trades in pound pairs even only one good trade  and the pound gross sales off and we can bank a profit  . there isn’t any need to begin attempting to trade multiple  markets it’s actually just about making money and  . generally one of the only ways to generate income is just to  find the best trade the best market and be quick  . alongside that market going into the next week  so definitely primarily based on this i will be very  . excited about pound frank as soon as once more this week  this was a market spotlight in last week’s video  . because we noticed the pound weakening at the  similar time the swiss franc strengthened  . and i’m also going to be thinking about pound new  zealand to the downside we are in a position to take a look at a number of the.

Other pairs like pound cad pound greenback to the  downside however just bear in mind you are trading a  . weak currency versus type of neutral currencies  so you should still anticipate the pound to continue  . to depreciate in opposition to these currencies however you are  more than likely to get one of the best strikes out of say pound  . franc pound new zealand i’m additionally going  to have an interest going into subsequent week in  . frankien to the upside be taking a look at eurofrank  to the downside euroframe draw back was another  . market highlighted final week and it was another  market which bought off very nicely to the downside  . taking out the goal set and so i am going to be  excited about euroframe to the downside once once more  . i am interested also in new zealand yen  and likewise euro new zealand to the draw back  . we are able to also look towards cad yen eurocad to the  downside and doubtlessly us dollar yen to the.

Upside euro dollar to the downside but again as  i say you are actually looking at type of bullish  . to neutral currencies versus bearish to neutral  so as quickly as we get into that type of mode you’ve a  . larger threat of reversal of course anytime you are  taking a glance at markets you’ve a risk of a reversal  . nevertheless it’s greatest when you could have neutral  currencies so in brief pound shorts looking  . like the best performed going into this week the us  dollar is extra or less neutral after last week’s  . fomc and the swiss franc and the new zealand  in my opinion based mostly on the method that we use  . listed here are going to be the better currencies to  search for long positions in going into subsequent week  . so let’s take a look on the particular person currency  starting with the dxy now there’s something we  . really want to pay attention to this week in the  dxy we had that continued rise to the upside took.

Out the previous highs this uptrend continued  in the dxy last week this is a very weak shut  . the way in which this has come up taking out previous  highs and it is simply sort of sat again inside right here  . and we did not take out the goal just by a  handful of points once we take a look at the dxy going  . into next week it is only bullish to neutral it is  principally neutral and that is really mirrored in  . what we’re looking at within the technicals here you  can see we now have this correction and we are again  . inside this i mean if we have been to only put a line  via the center of this as a spread you possibly can see  . we’re coming again down in direction of the middle of  this sort of correction this type of vary this  . contraction so this is not a very bullish  forex but the bullish uptrend remains to be intact  . so what does that imply why is that this important nicely  the difficulty here is that this we can’t look at the greenback.

This week with out taking a look at gold as a result of at  the end of final week gold did something very  . very fascinating we started to break what seems  like a significant reversal to the upside in gold now  . the explanation we’re taking a glance at gold here is as a end result of  we’re placing this together with what we just  . checked out in the dollar that failure actually to  break the earlier highs within the dxy with momentum  . and the very fact we’re sort of neutral and we’re  taking a look at that at the similar time we’re trying  . right here at gold and it appears like we’ve a one a two  wave and this seems like a 3rd wave why do i say  . that well first and foremost we’re coming up from  a low so everytime you come up from a low like this  . and also you see and you get a one wave what  you are actually looking at is you have one  . two three four 5 followed by an a b  and a c and then you get the third wave.

Now that is on the backside of a possible right  shoulder which in and of itself is an inverse head  . and shoulders and a reversal sample to the upside  bullish reversal pattern and one of the confirming  . factors you look for when you’ve these potential  5 waves to the upside or you’re on the lookout for  . a one wave a two wave and a 3rd wave to return in  is momentum momentum is key whenever you’re looking  . firstly of a development other to the upside  the downside as a end result of what’s happening is  . all the merchants who are shorting this wanting  at this as just a basically sell the rip sort  . of mentality value comes up they quick it price  comes up they quick it nicely what occurs is when  . the second wave fails to come down and make a  new low all of these shorts cowl their positions  . summer time to loss and any cease losses up on this area  get taken out and consequently you see the market.

Moving with momentum and that’s precisely what we’re  seeing in gold i mean have a look at the shut on friday  . this is right near the high it’s not precisely the  high which might be a little bit of a misery shut however  . it’s proper close to the highest and this is exhibiting  real energy on this breakout on this flip  . now why this is important when wanting  on the individual currencies is as a end result of  . gold does tend on the turn to  lead the dollar index so we have to have a look at  . these two issues collectively as a end result of what we’re  seeing is an actual lack of momentum in the dxy  . on the identical time that gold is starting a potential  massive breakout to the upside that signifies we may  . be near a high within the greenback index now for those  of you who follow the video you’ll know i don’t  . like to choose tops and bottoms i am not going to  be short on the dxy except we come down and break.

This low right here because that is when the reversal  is confirmed as a end result of this may be a double prime  . reversal this as it stands it is only a developing  double top these i’ve seen many many occasions just  . proceed upwards this is a developing double  high over here comes down and also you make a new excessive  . this can be a growing double top comes down makes a  new high so you’ll be able to see this isn’t yet a reversal  . the reversal will come if this comes down and  breaks the low over right here so what i am saying to  . you guys is due to what we’re seeing in gold  we may be and the reality that the currency rating  . playing cards are exhibiting the dollar as being type of  flat we may be seeing a high here within the dxy now  . why is that this essential and the way can we use this  info nicely it means going into subsequent week  . if i am taking a glance at any dollar positions visa-vis  other currencies i might want to keep greenback lengthy.

Positions to a minimum i mean actually you would be  taking a look at just perhaps one dollar strength trade  . and we may also be sort of clever about it if  we’re worried that this can be a high but we’re not  . going to leap in right near the top and attempt to  short this thing there are a few intelligent ways  . we can play this certainly one of course shall be in gold and  we’ll come and have a glance at this later when we do gold  . but the different would be one thing like us dollar  japanese yen which i would be thinking about why  . because us dollar japanese yen to the upside in  and of itself is definitely a reflationary commerce  . when the dollar weakens you presumably can still see the us  greenback rising in opposition to the yen as a end result of the yen is  . more of a secure haven currency than the dollar  so when you might have a danger on mentality you see  . the greenback weaken and you see the yen weaken so  you see cash coming out of the safe haven belongings.

It goes into the commodity currencies like new  zealand like just like the canadian dollar like the  . australian dollar but as a end result of the japanese yen  is extra of a secure haven asset than the us dollar  . you probably can actually see the greenback falling and on the  similar time see us greenback yen rising to the upside  . so us dollar yen could be an excellent market so as  to replicate any bullish outlook on the dollar going  . into next week because if the dollar does reverse  you would nonetheless see us greenback yen rising to the  . upside and the second market i might be interested  within the dollar is pound dollar to the downside why  . as a end result of if the dollar does reverse and also you’re  buying and selling it towards the pound nicely because the  . pound is so weak you could fairly easily see the  us dollar coming down and the pound may simply  . either transfer sideways during which case if you’re  incorrect and this reverses you are not going to.

Lose an excessive amount of money as a outcome of it is not going to go  wherever because you’ve got two weak currencies  . in opposition to one another so all that happens is the  market goes nowhere or in some circumstances like we’ve  . seen beforehand with euro new zealand and euro  greenback you would really see the dollar coming  . down and because the pound is way weaker than the  dollar it can nonetheless come down and make new lows  . so you’ll find a way to even have pound dollar coming down  because the dx y reverses simply on the basis of the  . pound being so weak so to summarize what i’ve just  said the greenback continues to be buying and selling to the upside  . and we are nonetheless in an uptrend it has not but  reversed primarily based on what we’re seeing in gold this  . will be the top for the dollar and if that is the  case i’d primarily solely actually need to look  . for us dollar yen to the upside since you may  nonetheless revenue from that in a reversal of the dollar.

And i’d only actually have an interest possibly pound  greenback to the downside because you may see  . this staying choppy or coming down a bit and  you can nonetheless see pound dollar coming down  . anything exterior of us dollar yen and pound dollar  in the dollar pairs next week in my opinion might  . be a bit dangerous as a result of if it is a high you’ll  see the dollar weakening and should you’re trading  . one thing like us dollar swiss franc to the upside  because you wish to be bullish to impartial on the  . greenback you realize you could truly see that coming  down fairly onerous if the greenback begins to weaken  . so that is what i see within the dxy going into subsequent  week and because of the risk of a potential top  . indicated by the gold breakout these are the  two markets i choose to trade if i’m trading  . the dollar pairs next week so a little bit  of patience required on the dollar pairs.

Next is the euro the euro is still trending to  the downside and we’re transferring in direction of the 1.14680  . you probably can see reflecting just the inverse of the  dollar index we came down took out the low so  . we’re nonetheless coaching to the downside but we have  no momentum here it is it is showing neutrality in  . the euro and that is precisely what we see in  the scorecards with a minus one studying it is  . bearish to neutral it is impartial however it’s bearish  to impartial next is the pound now the pound is the  . market which i highlighted last week as good short  as a end result of we began to weaken and we got here down very  . onerous we took out both targets in the pound and we  finished the week right at the second goal here  . going into this week it does look like we’re going  to come down and make new lows which implies we’re.

Going to no much less than take out this low by the looks  of it and i might say come all the way down to 1.3401 so what  . i would be in search of going into next week is any  continued pullback within the pound on this course  . is going to be viewed as the opportunity to look  for short positions down to the 1.3401 and as  . i stated earlier than this to me represents one of the  greatest alternatives for my part to generate income  . next week based mostly on how the currencies are setting  up so as i all the time say there isn’t any ensures in  . forex however this appears like top-of-the-line highest  probability moves going into next week next is the  . swiss franc the swiss franc continues to be trending to  the upside and we’re approaching the 1.1024 goal  . after this inverse head and shoulders break no  reason to be bearish on this in my opinion it.

Does appear to be we’ll come up and begin  taking out these targets and move even greater so  . reflecting what we noticed in the scorecards as well  subsequent is a japanese yen the japanese yen is bearish  . but we have been very impartial why as a end result of after we  noticed on the scorecards we received down into this area  . the japanese yen scored minus four what did i say  on the time i said this was one thing which is  . telling us it’s overextended we’re prone to see  profit taking coming in and correction and it is  . been doing that now for about three weeks it does  appear to be we’re in a fourth wave here and since. in wave counts you may have the law of alternation  fairly often deep wave 2 equals a shallow a4 or  . a shallow wave 2 equals a deep wave 4 like this  and you can see here we’ve this what looks like  . 1 and then we have a very shallow pullback so i  wouldn’t be stunned to see this correcting more.

The yen is still rated as minus once it is kind  of neutral bearish to impartial however hold a watch  . out within the coming weeks for a reversal in the end  because it does look like we’ll come down  . for this fifth wave so this fifth wave remains to be  on the cards it’s something we discussed in last  . week’s video but it’s simply ready having the  persistence to wait for this to begin to roll over  . however this fifth wave to the draw back is something  i am maintaining my eye on whether it happens next  . week or the following weeks is one thing i’d  look to position into on the lower time frames  . so how exactly would that appear to be well we’ll go  and have a look at that within the yen pairs when we  . come to the markets but what you’re on the lookout for  actually is momentum to the downside so if we go  . to the fourhour chart here on the japanese yen  you probably can see we’re simply kind of correcting here.

What i wish to see is something like this  the market continues to appropriate and you then’re  . going to see it doing this and then you definitely see an enormous  momentum transfer in this course like this that is  . what you need to see and the market begins to do  this and that is your alternative to start to look  . for shorts that’s if you’ll know the market is  starting to roll over since you’ll see momentum  . coming into the draw back which we’ve not got but  both to the upside down so you see this is simply  . correcting so patients are fairly on the japanese  yen i’m still overall bearish but we could have a  . little bit extra correction to the upside subsequent  week if we go and take a look on the canadian  . greenback the canadian dollar is a market which very  very like the yen i noted in earlier videos when.

We took out this target that it was essentially  overextended to the upside and we should expect  . profit taking to come in that’s precisely what we  saw after the scorecard confirmed us this in advance  . it showed us be wary of cad long positions as a outcome of  we’re likely to profit taken and we got that  . we received that also precisely from the inverse head and  shoulders target which i highlighted previously  . so this is not bearish this is setting up for a  ball flag i’m on the lookout for an advance in the cad  . because it at present stands it is bullish to impartial  because it is bullish but it’s correcting so we’re  . in a secondary trend in reality that’s a corrective  wave or or a correction so i am on the lookout for excessive  . highs coming to this market and i am looking  for the reversal but as you’ll have the ability to see hasn’t  . taken place just yet subsequent is aussie aussie has  began to break to the draw back and in reality.

Quite attention-grabbing final week we had this  double prime arrange which is a bearish reversal  . and we had it right on the main inverse head and  shoulders breakout so what’s fascinating about  . this is if we are going to see a high in the dxy  you then would must see this breaking greater  . and the fact that this has damaged down right at  the previous breakout degree which is essentially  . greenback bullish at the identical time we now have gold  breaking out to the upside well one thing has  . got to give it is not going to proceed like that  as a end result of if the us greenback weakens you’re going to  . see the aussie appreciating more than some of the  different currencies because of its commodity foreign money  . standing so technically speaking the aussie is  bearish after this double prime reversal that’s  . actually very technically bearish nonetheless once we  examine them to different currencies it’s sort of flat.

It’s neither bullish nor bearish relative to different  currencies and at last we take a look at new zealand new  . zealand benefited from the unemployment beats  last week and we also famous this major inverse  . head and shoulders breakout to the upside and we  have now this bull flag organising so i am bullish  . on the new zealand looking further advances and  in comparability with other currencies going into next week  . this market can be wanting fairly good however  as quickly as once more what we’re looking at in gold in  . the dollar index and in addition in these commodity  currencies with the currencies sitting right  . at these main breakout levels is telling you that  a giant transfer is more doubtless to come one way or the other  . whether the dollar goes to high and you’re  going to see it come down and start to see  . the commodity currencies rallying from here  with main trend reversals or if the markets are.

Going to fail here and the greenback rallies higher  you’re going to see the beginning of massive moves to the  . draw back in these commodity currencies so we’re  proper to the place the place we might go either  . means however gold based on what it is doing last week  is indicating we ought to always most likely be on the lookout for  . the next bigger transfer to come back dollar down gold to  the upside and i think about the commodity currencies  . will follow gold to the upside as well if that  breakout in gold materializes continues subsequent week  . so let’s take a look at the best forex pairs  going into next week the best scoring strongest  . versus weakest currency pairs first i want to just  take a glance at crude oil as we usually do and you may see  . crude oil is structured to the draw back going into  this week that is going to have a little bit of a gentle.

Negative impact on the canadian dollar we saw the  canadian greenback was simply scoring one out of four  . so it’s type of bullish to neutral and that is  type of reflective of the revenue taking coming in  . in fact to the canadian greenback we checked out from  that inverse head and shoulders goal last week  . i did state that though crude oil was trending  to the upside i wasn’t significantly eager on it why  . as a result of the greenback was still bullish and every time  you have a stronger dollar it is going to weigh  . barely on crude oil you can nonetheless see the greenback  rising and crude oil rising at the identical time but  . the most effective most explosive strikes in crude oil have a tendency  to come to the upside when you may have a weak dollar  . and to the downside when you have a strong greenback  and as we received a new high within the dxy final week we.

Saw crude oil coming down now it does look to me  as if this is only a corrective wave so going into  . subsequent week sure it does seem like we may come down  to the 78.eighty five i do have a bearish bias on crude oil  . however you don’t have to commerce corrective waves if  you’ve a ball flag like this and the market’s  . doing this the reward on brief positions tends to  be capped why as a outcome of corrective waves are choppy  . so any strikes to the downside you are probably to catch a  bid and it starts to go back up then it comes down  . goes back up etc so simply because i have a bearish  buy some crude oil doesn’t mean i have to go out  . and brief it if you are trying to trade it i  would like shorts however what i would really choose  . is for this to proceed down and then await a  new reversal with momentum to interrupt to the upside.

And then oil long positions as a outcome of i  do suppose we’re going to come back up  . to new highs within the coming weeks that would be  my most popular play on crude oil so for me endurance  . required when you really wish to trade next week i  can be bearish on crude oil subsequent is pound frank  . now pound frank was a market i highlighted to the  draw back final week and we took out each of these  . targets and we took out both of those targets with  momentum i imply look how nice a selloff this was  . final week and actually in last week’s video this  was exactly what i highlighted i stated to you guys  . if we take out these lows right here you’re going to see  all of the bullish traders trading this inverse  . head and shoulders cover their long positions  and we will see this break to the draw back  . in all possibilities with a momentum and we  could consequently begin to see this very very.

Choppy consolidation sample all the way back from  april may actually start to escape and it seems  . could be suggestive as a failure to the downside  with this inverse head shoulders failing so if we  . break the 1.2470 in this market we could actually  see some sturdy momentum coming in as all of these  . merchants who have been buying and selling this to the  upside trying to buy into this inverse head and  . shoulders they are going to have cease losses down  on this area some shall be extra aggressive down  . under the best shoulder so you could see some  momentum here and others will be extra conservative  . in their stoploss pro ought to be down below this  low here however either way if we break these levels  . we’re more likely to see some momentum coming in going  into this week take a glance at the momentum we have to the.

Downside after this earlier breakout that is  actually robust good momentum this is indicative  . of further lows why as a end result of momentum precedes  worth so any continued correction in this area  . will be considered next week as a possibility to  look for brief positions down to the subsequent care  . of help on the 1.2227 i do actually like pound  frank going into subsequent week as soon as once more subsequent is  . pound new zealand because this is the second pound  pair that i like after pound frank highlighted in  . final week’s video as a good brief to the downside  in final week’s video the scorecard confirmed new  . zealand as the strongest and the pound was one  of the weakest and what happened we had a very  . good pull back and this was your alternative to go  quick right into the target i mean we roughly  . picked the underside of the week last week with the  goal set so great transfer final week in pound new.

Zealand going into this week i’m on the lookout for any  pullbacks in this space similar to this move over  . right here will be considered as quickly as once more as an opportunity  to look for bearish setups down to the next kia  . supports the draw back the goal set the 1.8867  i do really like pound new zealand as well pound  . new zealand pound frank are my two favorite pairs  going into next week just bear in mind though they  . are both pound pairs so should you go brief on both  of them and the pound reverses for whatever purpose  . though it appears unlikely then you definitely can be  stopped out on both of them so simply bear that  . in mind if you’re looking to commerce those markets  next could be pound dollar now pound dollar you  . can see we now have very nice momentum we took out  each targets to the draw back in final week’s video.

Coming into this week i don’t like pound greenback  as much as pound frank and pound new zealand  . however we do have very very very robust momentum and  once more that is indicative of a potential correction  . after which further declines to the draw back and i  do assume there is a good likelihood we come and take  . out these lows over here and the 1.33 980. so  a method you would use pound dollar going into  . subsequent week is as an artificial hedge to gold you might  resolve to go low on gold to the upside which is a  . dollar every week set up and on the identical time you might  determine to go short pound greenback and if you have  . a two to 1 opportunity on one of many markets and  a two to at least one opportunity on the other markets and  . for instance the dollar rallies and also you make profit  on pound dollar of 2x and also you lose your cash on.

Gold of 1x you are still up 1x or if the reverse  happens and also you see the dollar selling off and  . the pound rallies higher and you lose your 1x on  the pound and also you make your 2x or extra on gold  . that is how you can construct a synthetic hedge so  something interesting going into next week however  . if you are wary about what gold is exhibiting and you  would quite keep away from dollar energy trades as a result of  . of it otherwise you would rather take a look at us dollar yen  then i would favor pound frank and pound who’s  . even going into subsequent week but it does seem like  we’re going to come down a minimal of for another  . low right here in pound greenback next is pound cad now  pound cad additionally took out the target set from final  . week’s video and again you see the momentum coming  into this market after this earlier breakout so  . any pullback in this market will be seen  as a chance to look for bearish setups.

Down to the subsequent kia supports the draw back and  goal set the 1.6692 with crude oil selling  . off and this weighing on the canadian dollar  barely pound cad isn’t as preferred subsequent  . week for me as pound frank pound new zealand  however it is actually a possibility and it does  . seem like we will get additional declines next  week and eventually pound aussie i am not an enormous fan  . of pound dolsy going into subsequent week i have added  it into the video purely because you’re looking at  . a very weak pound versus a impartial aussie however the  aussie pairs because they’re just completely flat  . i do not suppose they’re the best foreign money pairs to  be trading subsequent week nonetheless any pullback in pound  . aussie will simply be seen as a chance to  look for bearish setups all the method down to the next key of  . help to the draw back in the goal set at the  1.8062 so now we’ve seemed on the weakest forex.

Let’s go and take a glance at the strongest currency  going into subsequent week which is the swiss franc  . we’ve already checked out pound frank however the subsequent  market i like is frank yen if you look at all  . of the opposite yen pairs you will see that we’re  getting these sort of waveform corrections we  . checked out it final week and we’ll take a look at  it once more in a bit however frank yen is holding its own  . in its uptrend it hasn’t even began to right  so if we do begin to see new zealand yen rising  . caddium rising aussie am rising i’d expect  to see frankie rising a lot quicker the one thing  . to notice is i would not go too loopy on swiss franc  strong positions as a outcome of the swiss national bank  . needs to see the swiss franc devalued and you  at all times have that threat of them stepping in and  . saying something and reversing the swiss franc so  i do like swiss franc positions i might be taking.

Them to the lengthy facet but don’t take too much danger  on swiss franc lengthy trades simply in case the s b  . come out and begin to speak it down risk administration  helps you in those situations you understand when you’re  . going to be mistaken you are going to be incorrect small  or in just a couple of trades you’re going to be  . wrong on say six trades or eight trades so going  into next week i do like swiss franc japanese  . yen to the upside any continued pullback in this  market will be viewed as a chance to look  . for bullish reversals won’t see that momentum  coming into the upside first and then i’m going  . to be taking a glance at initiating longs up in course of  the next care resistance outdoors the goal set  . at the one hundred twenty five.89 subsequent is euro franc eurofranc was  a market i highlighted in last week’s video  . and you can see we began the week over in this  area and we came down and we took out the target.

Almost to the purpose that was the low of the week  going into this week what i wish to see is  . any pullback first i might like to see this correcting  up we’re starting to lack a little little bit of momentum  . but any pullback in this market would be seen  as a chance to begin to look for bearish  . reversals in this market i’ll be looking  if we start to get this momentum to the downside  . at initiating shorts all the means down to the 1.0507 and if  we break through right here because we’re fairly shut  . to it over here going to be trying down in path of  the following care supports the draw back the 1.0411 so  . i do favor pound weak setups but frank power  setups are my second favourite performs going into  . subsequent week subsequent is the euro pairs now the euro  is at minus one so it is bearish to neutral it’s  . not an excellent weak forex um so just bear that  in mind in case you are buying and selling euro pairs subsequent week.

Euro shorts are my third preferred setups after  pound shorts and swiss franc long positions  . EURUSD i put this market in each single week  as a end result of a lot of individuals like EURUSD they usually  . need me to place it into the forecast you can see we  have not actually gone anyplace in EURUSD we’re back  . inside this vary similar to what we seemed  at however conversely in the dxy now how i would  . favor to play this i’m personally sure EURUSD  i do issues it at present stands we might see euro  . dollar coming down why as a result of in the dxy itself  though XAUUSD is suggesting we might have a top  . i explained to you guys already we  haven’t topped that might come down below  . this level within the dxy giving us that double high  that is the confirmed reversal so i am bearish  . on euro dollar but what i’d prefer to see actually if  i was going to get involved to the brief aspect is.

I want to see patients first and i might  prefer to see the us greenback breaking greater  . so persevering with up failing to reverse decrease and  persevering with the pattern up and what’s going to occur is  . when the dollar does that you will notice euro  dollar will come down it’s going to take out this  . target and it will begin to break under this  consolidation and when it breaks beneath this  . consolidation begins to tug back that would be  my alternative my preferred shorting alternative  . so i’m bearish on euro dollar however because it’s  in this vary what i would like to see and since  . the greenback might be topping i’d prefer to see  no the dollar just isn’t going to high perhaps the  . gold breakout fails we see the dollar rally  greater and eurodollar breaks down below the  . bottom of this range and any pullback on this  space in my opinion can be the higher shorting.

Opportunity quite than attempting to brief it into  the bottom of this nearterm corrective pattern  . so i’m bearish on eurodollar because it currently  stands but i would personally prefer to see that  . break greater in dollar index and a breakdown below  the bottom of the vary before i appeared quick this  . next is euro new zealand euro new zealand is  pulling again and you’ll see this has simply  . been correcting we are seeing a little bit of energy  coming in nevertheless any pullback in this market  . is considered as a potential opportunity to search for  bearish reversals once more search for that momentum to  . the draw back and any bearish reversals we begin to  get this sort of bear flag sample can be seen  . as the opportunity to look for short positions  all the means down to the 1.6029 subsequent is eurocad we’re now  . transferring into the realm of a bullish to neutral  currency versus a bearish to neutral forex i’ve.

Put eurocad in right here to level out you something which is  that sure i am still looking for additional declines  . but look what happens when you may have two neutral  currencies the market doesn’t really go anywhere  . so i’m quite joyful for eurocad to return down possibly  from here and me not even be concerned in this if  . you probably can allocate capital say to pound franc or  you can allocate capital to pound new zealand or  . maybe even eurofranc or a market which is extra  likely to transfer so i’m not saying eurocad can’t  . come down what i am saying is predicated on the very fact we  have two impartial currencies i do not suppose it’s the  . best place to allocate capital personally right  now i might prefer to see this break out a method or the  . other before i began to get entangled in eurocad  as quickly as once more so i believe eurocad needs somewhat bit.

Of endurance and the same for euro aussie as  properly we’re seeing your aussie pulling back  . and what we now have here is a flat forex in  the australian dollar and a bearish to impartial  . forex within the australian greenback so you’re aussie  off the table for me for the time being it does  . look like we’ll come down and this would  more than likely happen if we get that dxy reversal  . as a end result of the australian dollar would probably  outperform the euro you would see a break lower  . and then perhaps coming into next week this would  be the opportunity to look for shorts so i am  . nonetheless bearish on this however i might like to see slightly  bit of strength coming into the aussie or a bit  . more weak point coming into the euro before i seemed  brief this and we’ll end off the currencies  . with the yen pairs again whenever you’re looking at  the tip you’re taking a look at a bearish to impartial.

Currency so it is not super bearish so that you simply  need to bear that in mind be somewhat bit careful  . the first one we will take a glance at is us  greenback yen i do fairly like us dollar yen  . and it is for reasons discussed initially of  the video which is that this market is structured  . to the upside it does look to me like we’re  going to return up and take out the 114.730  . and us dollar to the upside against the  yen is something that can take place  . with the us dollar selling off why as a result of  as i said initially of the video  . you’ll find a way to see safe haven money coming out of the  finish sooner than it comes out of the dollar which  . leads to the us greenback yen rising even if you  have reflationary scenarios going on like aussie  . new zealand cad to the upside dollar to the  outside and so on so if you are seeking to trade.

Dollar to the upside subsequent week however you are a  little bit cautious of that potential reversal  . us dollar yen is doubtlessly top-of-the-line  currencies you would take a look at reflecting that view  . so any continued pullback and a reversal i’m going  to see momentum to the upside if we begin to get  . this momentum upside any pullback will be considered  as a possibility to search for additional advances  . up in the direction of the 114.730 again you don’t have to  commerce any of the yen pairs or any of the dollar  . pairs if you do not need to subsequent week if you  think there are better alternatives elsewhere  . subsequent is new zealand yen now nothing has actually  changed within the new zealand yen or cadient aussie  . yen evaluation and this is that these markets are  all establishing for fourth waves and that is simply  . reflective or i ought to say they’re setting up for  fifth waves in fourth waves and that is reflective.

Of what we checked out in the japanese yen and  of itself it’s in appears to be a fourth wave  . and it is going to be promoting off for a fifth wave  to the downside so no change within the evaluation on  . these gen pairs right here we’re just correcting for  this fourth wave fairly often fourth waves reversal  . they have an inclination to reverse shallow fourth waves  on the 0.382 fibonaccis which is right right here  . so we’re getting quite close to this particularly  if we’ll pull again a bit extra ultimately  . as i mentioned it is a market i’m looking for  further advances in but it might take a couple  . of weeks as we continue to correct if we come  right down to this space that is when you can begin  . to search for these momentum moves to the upside  and if you get that if you begin to appropriate into  . these levels and you then rally to the upside this  is your signal to start to look for bullish setups.

Up in direction of the subsequent care of resistance  the upside and goal set on the 82.sixty eight  . cad yen also in a fourth wave by the looks of  it and any pullback on this space you possibly can see  . we’re proper down near the lows so we’re still  correcting however any continued pullback is considered  . as a chance to begin to search for bullish  breakouts in some unspecified time within the future within the next week or two  . and if we start to break larger we’re going to be  wanting up in the direction of the next q resistance exterior  . the target set on the 93.21 and at last aussie yen  now the aussie is pretty flat going into this week  . but when no matter reason we catch a bid within the  aussie going into subsequent week once more this is going  . to be a setup the place i’ll start to look for  bullish reversals and again what i wish to see is  . really nice momentum breaks to the upside a nice  ball flag and i’ll be looking up in the course of.

The subsequent key resistance the upside the goal  units to start with the earlier high and then on  . to the 87.19 and finishing off with shares gold  silver and bitcoin for those of you who follow  . the weekly forecast you will know that after we  began to interrupt out this inverse and shoulders  . i even tweeted out that this was the underside of  shares and we have had a very nice rally this was  . the start of a new pattern to the upside and we  have seen very nice up strikes within the inventory market  . i did note last week that with the work that i  undergo and the things that i take a glance at it does  . as of final week i did see warning signs flashing  that we might be doing nearterm correction in the  . stock market and i said to you last week that we  may come up take out the targets and that may  . probably be the top of this recent rally we really  completed quite near the highs so we did not start.

To reverse last week but as soon as again guys going  into this week i am seeing warning indicators flashing  . and it is telling me nonetheless to deal with this as  a profittaking opportunity that we might get  . some more upside but upside is proscribed proper  now compared to the potential downside so what  . does this imply nicely we took out each targets last  week i am still bullish total on shares but what  . i would like to see first is i wish to see  the market starting to appropriate and once the market  . began to right then i will be fascinated  in wanting additional advances up to the 4749.90  . and this is not just on the spx that is on all of the  inventory indices that we’ll be taking a glance at  . so to summarize so that you can make it clear i  do imagine that these are levels at which we  . ought to be trying to e-book some earnings and  i’ve booked some income on stocks myself.

And additionally should you’re working an extended brief portfolio  this would be a super time to begin looking for  . a few of these short setups in shares not in  the indices i’m not saying quick the indices  . that is not what i am saying i am saying looking for  shares that are good brief alternatives inside  . the indices after which you can use these as a hedge  as a part of an extended quick portfolio so if the index  . does start to right and are available down say three four  % and you start to see your long positions  . handing over the wrong way you are going  to make money in your brief inventory positions  . within that index because you’ve hedged it out  when you’re not at that degree yet and you’re not  . hedging out or building portfolios you are quite  new to buying and selling i would counsel should you’re looking  . to trade the index or the indices themselves  not buying at this stage ready for the.

Correction as a end result of as i stated i think the upside  is proscribed here in comparison with the downside near term  . subsequent is the nasdaq you possibly can see the nasdaq additionally  took out the targets to the upside final week  . so a very nice rally in the nasdaq and this was  again when i highlighted for you this inverse head  . and shoulders reversal the start of a model new trend  to the upside i’m trying additional advanced in  . the nasdaq overall but again i view this as  being a potential profit taking area i believe  . the chance of a correction is larger so if you are  simply trading the indices on their very own i would not  . look to be shopping for it at this degree i would wait  for the pullback and then any pullback can be  . the opportunity to begin to as quickly as once more search for  bullish breakouts into the sixteen 711 seventy four. again if  . you’re extra advanced in your constructing portfolios  this is able to be profit taking and a chance to look.

For some of these brief positions to hedge out  any danger of a correction from this area subsequent is  . the dow jones ever since we began to reverse  down on this area within the dow jones and backside  . i have been bullish and this did kick begin a  nice transfer to the upside and we took out the target  . virtually to the pit last week at three 6 four 2 eight 4  4 and that was pretty much the excessive of the  . week in dow jones i’m nonetheless bullish on the  dow jones what i want to see although is  . a correction happen first as i said earlier than  with the previous indices any pullback might be  . seen as an opportunity to start to look for  bullish setups as quickly as again up to the 36 957.52  . subsequent is the russell now final week within the russell  we smashed by way of the target set to the upside  . and we started to interrupt out of this multimonth  correction and that i did notice in videos previous that.

If we began to interrupt up we may break with  momentum because of the length of this correction  . similar to what we checked out in pound franc  however simply in the incorrect way we now have had a  . really nice rally to the upside what i would really like  to see based on what’s already been discussed is i  . wish to see a pullback first it does look  like we might have a correction incoming within the  . inventory indices any pullback shall be viewed though  as a chance to search for bullish setups  . into the 2491.51 and final but not least we  have the nifty now the nifty is a market that  . previous videos we have been buying and selling to the upside  and ever since we broke this inverse head and  . shoulders it kickstarted a very nice trend and  a couple of weeks in the past i noted this was now bearish  . does not imply once more to go out short it simply  merely means should you’re lengthy in the nifty.

You can book some profits in case you are looking  to be lengthy only this is able to be a time to attend  . um and really look for a new reversal to the  upside simply as we reversed up right here simply as we  . reversed larger over right here i would like to  see the nifty breaking larger pulling again maybe  . we get an inverse head and shoulders like this  after which we begin to break for the following transfer up  . so as it at present stands you can see we went  nowhere final week and that tends to be the case  . whenever you’re in a correction so i would be patient  on the nifty and really i’d prefer to see this start  . to reverse greater before i am really involved  in the nifty as quickly as again when you like quick shares  . i do have a nearterm bearish outlook on the  nifty but i want to see it reverse higher  . personally first so we are ready to get back to being  long on the nifty and ending off with gold.

Silver and bitcoin and naturally these are things  we really wish to take a glance at going into next week  . i already touched on this initially of the  video and when you’ve skipped to the top simply have  . a have a look at gold it could be value going again to  the beginning of the individual currency analysis  . after we look at the dollar and i talk about this  breakout in gold and how this will actually  . impact the dxy going into subsequent week and should even  be signaling a top in the dxy but in gold itself  . as we mentioned it does look like we have  not just this inverse head and shoulders. however in the best shoulder from the bottom of  the right shoulder it looks like we have one two  . three four 5 choppy fifth wave adopted by a  failure to make a brand new low which is the second wave  . and then a break greater with momentum so not just  a break excessive however a break excessive with momentum and a.

Very very sturdy close tells me this could probably be  the start of a third wave simply as we checked out  . in a few of these different markets where we noticed  within the nifty for example we had that actually  . nice inverse head and shoulders and then that kick  began the main pattern to the upside in the nifty  . so this is very important because even when this  breakout to the upside fails and we begin to  . get the dollar index rally in i do assume these  type of buying and selling situations right here specifically the place you  . potentially have the beginning of a 3rd wave they  provide a variety of the best threat reward alternatives  . and even with the dxy as a plus one  score which is type of bullish to impartial  . i personally think and i have already got taken some  positions in XAUUSD and XAGUSD proper at the finish of  . final week i believe it is well price the threat of being  stopped out on a reversal to the draw back in.

XAUUSD for me personally to be concerned in this  to the upside if that is going to kickstart a giant  . third wave once more you guys are free to commerce as you  want i’m not telling you guys to trade XAUUSD i’m  . simply saying for me personally i really like this  set up and if that is going to be the start of a  . bigger trend to the upside i am personally ready  to threat some capital a sensible amount of capital  . for positions in XAUUSD and in addition XAGUSD  should also follow it so very merely put  . going into next week i am bullish on XAUUSD  i do think that this could nicely be the beginning  . of a 3rd wave we drop right down to the 4 hour  chart you probably can see this slightly bit more clearly  . one two three 4 five we even have the alternate  wave rely you can see one shallow two three  . deep 4 fifth and then you might have the correction  after which you must break with momentum have a glance at.

The momentum coming into right here so if you pull  again in XAUUSD subsequent week shall be seen as an  . opportunity to start to search for bullish setups  i’m going to be wanting up in direction of the next care  . resistance the upside the goal set the 1834.01  but just bear in mind this in and of itself might  . see momentum as we break the 183401 why as a end result of  this is the confirmation of the main inverse  . head and shoulders in gold so if this is the  begin of the minor trend right right here this is the  . begin of the most important trend and that i personally with  positions that i had from last week would really like  . to see this break the one eight three 4 zero  one to not e-book profits but as a substitute see this just  . because it’s breaking here with momentum see this  break in right here with momentum as well and that  . would truly be the sign that this actually is  the start of a significant development to the upside in gold.

So gold is absolutely a market i’m preserving my eye  on subsequent week next is silver now silver can additionally be  . starting to break to the upside you’ll be able to see  we’re forming this potential inverse head  . and shoulders some individuals name this a cup with  a handle even since you’ve received this kind of  . shallower correction right here rather than coming  all the way in which right down to the right shoulder or the  . left shoulder on this case but the proper shoulder  over here that may be more textbook both way  . it doesn’t really matter the entire level is the  psychology is right here you’ve got got individuals selling in  . from these levels over here and these shorts  are failing to drive value down and as patrons  . are obtainable in all these shorts are prone to cover  and that is going to drive value to new highs  . and if we break this excessive over right here this is the  start of a possible trend change to the upside.

And a third wave in silver and again you’ve got a  nearterm target here of the 25-31 but when this is  . a one and this really is a two and we break here  with momentum i might query why we would want to  . put revenue 25.31 that is the type of major trend  reversal the place you would need to maintain on to this  . for as long as attainable once more i am not telling you  guys tips on how to commerce it i am just telling you how i  . will be taking a look at taking part in this setup and the actual fact  that i’m seeing this extra as an even bigger elementary  . position trade if we begin to break higher  than a shortterm near-term trading opportunity  . so i do really like gold and silver coming  into subsequent week and once more i’ve highlighted  . the vital thing levels right here for you that if we start  to break this high for example with momentum  . that’s indicative of a major development change to the  upside and if we pair these with what we’re seeing.

In the dx y if we start to top out in the dxy that  is going to send gold and silver greater so these  . major breakouts in gold and silver to the upside  are in my view undoubtedly one thing we wish to  . be keeping a watch on subsequent week and final however not  least we’ve bitcoin bitcoin has been trending  . to the upside we pulled again i did highlight in  earlier videos the fifty seven 867 for you we bounced  . from this degree and it appears like we’re really  now forming this inverse head shoulders which we  . confirmed above this stage here the reality that we  have yet to come back and take out the best shoulder  . tells me this head and shoulders is  still intact and what’s taking place right here is  . we’re just coming back by the seems of it and  testing this sort of trend line i’m not big on  . pattern line so i’ll take this off as a outcome of i  was just putting this on right here to point out you as a end result of.

You can see already look you’re coming to break  down this development line some folks could even view  . that as a trendline breakout i would not personally  and i might still look to be bullish on this  . you’ll be able to see right here that is the inverse head and  shoulders break but again you do not actually need  . this on right here so i’m nonetheless bullish on bitcoin and  especially if we begin to see the dxy topping out  . and we are going to get major breaks to the upside  in gold and silver if we get these development reversals  . count on to see bitcoin coming up to the 67 516 and  doubtlessly even larger so i am still bullish on  . bitcoin although we have been correcting i view  this correction as probably now coming to an  . finish with this inverse head and shoulders confirmed  above here so that is it for me for this week guys.