Vladimir Ribakov forecasts EUR/USD bottoming between 1.14 and 1.11 before a potential bounce to 1.15-1.16, GBP/USD targeting 1.33-1.35 on a reversal, and Gold continuing to sell rallies in its higher-high structure. USD/JPY shows buyer dominance but emerging MACD divergences signal a future bearish turn.
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Hey guys, Vladimir here from Home Trader Club. Welcome to our weekly forex forecast. Before the trading opportunities and all the amazing charts we have for this week, I want to remind you that we teamed up with one of the top brokers in the world. For our community with AvaTrade. What does it mean to you if you trade with Ava or if you want to trade with Ava? You can have unlimited access, unlimited access to Home Trader Club as long as you are active, to our trading courses, our real-time trading education, real-time trading opportunities, both the short-term and the longer-term, the swing trading opportunities, and also the access to our new project, the Home Trader Club trade copier where our traders trade and you can copy. All you have to do is just sign up with Ava. If you already have account with them, still follow the link below this video to open separate account with separate email. Once you did that, contact me with the Telegram below this video in the description. I will leave my Telegram for you and we will give you the access. So it's as simple as that. Follow the link below this video in the description. Euro dollar. Last week our plan was to get this sort of ABCD or the range before the continuation down. My plan did not change and I believe the euro dollar should create this bottom ideally by cleaning this low, maybe even as low to the weekly low. So we have the levels of 114 down to 111-ish. But the most important thing, once we get this drop, start to pay attention to where these bullish divergence form— lower lows on the chart, higher lows on the MACD. That would be our sign that we are very likely going to see the retraces back to 115, 116 area. So, and as long as the current price structure holds— we have the broken support that now acts as the resistance, high as a supply, and the volume profile area— as long as all these hold My view is still bearish on the euro dollar. Next one, the pound dollar. Last week we discussed about sell these rallies, and even though the price starts to create a bullish divergence and also gave two bullish candles, the bears still managed to maintain the control. In that case, usually that's a sign that the market will try to get as close as possible to the previous low, maybe even clean that. So the closer we get, start to look for the price rejection and for the next low to form. Bullish divergence around these levels should provide another beautiful sign and buy opportunity towards back to $133, $135 area. So As for now, the pressure is still bearish, but the closer we get to the lows and where this divergence becomes relevant again, that would be the sign to look for the buys. Also very strong sign we have on the weekly chart. This is a broken resistance that acts as support and is about to be retested, actually very close to be retested. But also pay attention to this— oops, pardon me— to this beautiful rising support supportive line. So we get there, that should be a beautiful zone for the bounce. Meanwhile, the pressure remains bearish and there is a great chance we're gonna see the GBP/USD making this low around the levels we saw on the daily chart and from there form a bottom and start the retraces to the upside. What happens with the gold? So a quick follow-up on our last week discussion. You can find all the videos, of course, in the YouTube channel. The sentiment on gold looked like it's changing during the week. However, price structure did not change yet, and I think the gold still should be able to deliver something like that. So for me, This is still sell the rallies. In terms of the price that on the 4-hour chart we start to see some higher highs, higher lows. So there are 2 scenarios usually the price follows from that final peak and we have some little supply here and of course the major supply zone here. If we get close to that zone, that could be the beautiful area to start looking for the sell. On the other hand, if the price first of all does that, then during the week we can see the price trying to reject the supply we saw before here, and from there starts to make the sell. So for me, the bottom line is I'm still after sell the rallies in one of these price structures. What do you think about the gold? Where is it going from here? Let us know in the comments. Final one for today. I was asked a lot about the dollar yen. Let me go to blank screen. It will be easier to draw here. I was asked a lot about the dollar yen. What do I think that gonna happen here? So the way I see dollar yen, by ideal, what should happen with this one is final peak and this condition to complete higher highs on the chart versus lower highs on the MACD. From there to form this bearish divergence and to start a big turnaround. That means if the analysis is relevant, of course, that means we would want to see the gold— the dollar-yen, sorry— climbing here, completing this divergence, or maybe with the next peak, right? But completing the 3 waves and the divergence, and from there look for the reversal signs. Okay, now this would be the ideal scenario. However, we already see the weekly divergence developing, we already see the daily divergence developing. So if USDJPY starts to create a structure of lower highs, lower lows, we could be looking for sell opportunities by breaking the low. Um, but the— technically speaking, the ideal scenario is that it manages to clean this peak, restructure the divergence on all the time frames, make this peak, and from there something major to build up. So for me, I believe the buyers are still at the moment are in control for USDJPY, but new peak divergence, get ready for the sell. That will be it for this video, and thank you very much for your time watching. 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