Vladimir Ribakov analyzes GBP/CAD, AUD/JPY, and EUR/USD for the week of March 6-10, 2023. He sees GBP/CAD bullish with resistance at 170-172, AUD/JPY bearish with a demand zone setup, and EUR/USD continuing lower toward the 200-day moving average. Each pair includes specific entry zones and risk management levels.
Chapters
Hello traders, how are you? Vladimir here from Home Trader Club. Welcome to my weekly Forex forecast. Today we are preparing for the trading week starting of 6th to 10th of March 2023. In this video, I would like to share with you 3 very interesting instruments and my analysis and trading plan on them. That would be the euro dollar, pound CAD, Aussie yen. So the first one would be the pound Canadian, which I find very interesting. Actually, this pair we already traded. Let me show you here. The last week on Home Trader Club. So here is a trade we took. This was our first trade we spotted here right on the aggressive. Trigger zone for us, with expectations to go and make the rally. Okay, so our first trade delivered. We did initial management here when the divergence was completed, which I'll show you right now. Here we are. So this was the first management, and now I believe that this pair is preparing itself for the next rally, and I would like to explain. So what do we have here technically speaking? Let's start with the higher time frame. And as you can see on a higher time frame, at the end of a massive bearish move to the downside, the pair bounces up dramatically, making it in two waves up, which by itself finished with two waves down. Usually this is a sign for a potential continuation upside. Examining the broken levels and everything in that field, if we connect the following resistance line, you will see it goes directly to this massive volume profile, uh, based level, as you can see here, around the 170 up to 172. This is a massive zone, and I believe for the longer run there is a great chance the pair will try to reach this area. And besides that, the latest— if we take, if we take a look on the move down, the latest highs on the way that were not retested yet are these highs right here. And on the move up, it's even slightly higher. So for the longer run, it brings the pressure on the bullish direction. Taking it to the next time frame, in our case it would be the daily chart, we can see that the 2 corrective waves we've had here at a move down, uh, bounce beautifully after a bullish divergence. You can see here on my MACD indicator a bullish divergence on the histogram, flipping it from negative to positive to higher negative. Okay, so this is another beautiful technical sign. For a long run, a break above these triangles should do the job and open the doors for further bullish continuation. Taking it to the next time frame, which will be the 4-hour chart, here is where the shorter-term fun begins. As we can see, the pair managed to complete 3 higher highs, higher lows with a fantastic pullback to the downside. The pair completed bullish hidden divergence that lines up with the higher time frames and the expectation to continue and rally. While the market makes higher lows, the price makes higher lows, the indicator makes lower lows and completes a beautiful hidden divergence. This is usually a sign that the buyers are ready to trade, to take further control. So one of the possible scenarios after such case is the mark— the price might go and try to complete ABCD or 2 waves correction before the continuation, or any sort of a range before the continuation. This or other way around, I believe that this leg and then pullbacks should provide a great opportunity to try and to join on the shorter term, uh, to the higher time frames expectations. For me, as long as the zone of this low and the next low here, as long as this zone holds, the— my bullish view would remain on. If this area would not hold, then I will have to reanalyze and reconsider my bullish view. So this is my expectations for the pound CAD. Let me know what do you think about this one. In the comments section below. The next pair is going to be the Aussie yen, another one which I really think developing a great opportunity for the longer run. After the bullish massive wave we got here on the weekly chart, the stop happened to be with fake highs. As you can see, false breakout, false breakout. And again, you can you can see it spots directly here. As you can see, FB false breakout. With my false break convergence indicator. The part I do love here is that while the market making the false breakout, we do have divergence on the moving average of the MACD. Higher highs on the chart, fake higher highs in the chart versus lower highs on the moving average of the MACD. Absolutely fantastic technical signs. Moreover, we did have here lower lows on the chart and lower lows on the indicator to complete a convergence. With that being said, we go to the lower time frame and we can see that the first weekly wave down or leg down was broken into 2 waves on the daily chart, completing a potential zigzag setup. And right now we are building here a corrective structure like a range. So I believe that there are 2 scenarios here. Scenario 1, break the classical break below the range, pull back to retest it, and it should open the doors for further long-term sell opportunity. The other option here, one of I would say my favorite, is final high towards this massive demand zone we have. And you can see volume area here completing moving average bearish divergence. So again, fake high on the chart, lower highs on the indicator, and I'll be looking to try the sells right from the very top, potentially riding all the way down. So if we connect the highs of this channel, the demand zone, and the volume area, we can see that this area is absolutely strong zone. If the price managed to reach this area, the sell here could be a Absolutely powerful with huge potential and risk reward. Okay, on the other hand, the market could start the move down before, and if it does, no problem. The classical setup: break below the range, pull back and retest it, and then looking for the opportunities after, after the retest. Again, it could provide an absolutely great risk reward. So this is why I am bearish on the Aussie yen. Looking for my sell setups. Let me know what do you think about the Aussie yen. Share your thoughts in the comment section below this video. And my final one, the euro dollar, the one and only for many, which also I think is creating a great opportunity. How great! So we enjoyed the sell opportunity that the market gave us, and I shared this one in my Instagram. Let me show you in case you didn't see that. So here we are. This is the original post. As you can see, as the market was bouncing off 50%. Fibonacci on the weekly time frame and created this beautiful inverted pattern on the weekly chart. It was a great, great, great sell. The daily chart— let me just erase that— the daily chart gave us here a reversal pattern of the 2 lower highs, lower lows. So we enjoyed here a beautiful sell that took us directly to the volume zone, and here we are. Directly on the volume zone and the previous lows. So the question is, what's coming next for the euro dollar? I personally think that the bearish move is not yet over, and I think that as soon as the correction takes place, one more leg down is ideal. Ideal towards where? Ideal towards the previous lows. A 200 moving average would be a classical retest. And of course the rising supportive line that will meet us approximately there. So on the shorter term, I, I believe that these pullbacks should provide sell opportunity. Here is the first great supply zone with all these swing highs and the volume zone, and the next one is slightly higher. It's right at that point. I believe as soon as this corrective structure takes place These are the levels to look for sell evidences and possible bearish continuation on the euro dollar to complete the corrective structure. If it will manage to go and hold above these areas, I will have to stop and reanalyze my bearish view. Until then, I would expect the euro dollar to stay under the bearish pressure. What do you think about this one? Let me know, I'm very curious. How do you see the euro dollar? Because I had this discussion with my members, uh, this week. Many believe the euro dollar is going all the way to 115, maybe even 120 from here. Many other believe that it's great chance the euro dollar would go all the way to like 103, 102 before. What are your thoughts? Share with me in the comment section below this video. So that's it for this video. Thank you very much for your time watching it. I hope you find these trading opportunities and the analysis interesting. I would like to take the opportunity and to invite you to our trading family, the Home Trader Club, where you will get your access, as you can see on this very image here, to our full trading courses, our real-time trading education. Every single trading opportunity that I share comes with detailed video explaining all the trading techniques behind it so you can implement it in your own trading. Real-time trading opportunities, our amazing trading community where myself and my team are there to assist you, and of course much, much more is waiting you inside. So join us in our trading family, the Home Trader Club, with the link below this video. Okay, and I hope to see you with us. Thank you once again for your time. I wish you and yours all the very best. I'll see you soon with more. Bye for now.
