Vladimir Ribakov analyzes EUR/USD, GBP/USD, and GBP/JPY using technical levels and divergence signals. EUR/USD faces a bearish divergence with support around 1.09-1.10. GBP/JPY shows overbought conditions on daily RSI with two possible short-term paths: continuation down or a brief correction before resuming the downtrend.
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Hello traders, Vladimir here from Home Trader Club. Welcome to our weekly forex forecast. As always, before we begin, big thanks, thumbs up to 8K Broker for supporting our community. To enjoy all the amazing offers we have with 8K Broker, including the access to Home Trader Club, the live trading room, The products, the trading systems, the strategies, the indicators, private sessions, anything. You can find all the information with the link below this video in the description. The first pair for today, euro dollar. As you might remember, on the last week we were analyzing the euro dollar in a way that we expect to see final rally, and from around 109.50, 110, the closer we get there we should start to see a bearish move after the bearish divergence completes. The EUR/USD follows our plan pretty much ideally, I would say. And the biggest question is what is coming next. So while the long term now, I believe, should still establish its next move, on the short run I do expect the EUR/USD to flirt with this area. If it drops, to go rallies. If it rallies a bit, to go sells. Let's take a look how it looks like on the lower time frames. 4-hour chart completes bearish divergence after making higher highs on the chart, lower highs on the MACD. It did not go and make this low yet. It still could do it. However, as you can see right now, it is retesting the main trend line. And the last one was already broken. That's what makes me think on the coming period we should see the euro dollar flirting around the current zone. So here are the two plans. I the way I see that we have this inner zone, lots of volume consolidation here. You can see the volume profile based balance area here. We have the broken resistance that becomes support area if the euro dollar. Goes to that area, to that zone. I believe from here we should be looking for buys. Okay, and vice versa. If we break this low, completing the lower lows on the chart and lower lows on the indicator, I believe on the short term sell the rallies becomes the classical plan. Okay, so we go get we get there and then we have the broken resistance as we saw before that now will act as supply area. We have this volume profile zone, so any return there, as long as this peak holds, and I would be expecting the euro-dollar to continue lower back to the zones which I mentioned before. So this is my short-term trading plan on the euro-dollar, and I believe on the coming 1-2 weeks, it's very logical we would see, we would see the euro-dollar flirting with this zone unless something unexpected happens. And that could happen. It's market after all, right? Unless something happens, that would be my plan. Let me know what would be your expectations from the euro dollar. Share with us in the comment section. Next pair for today, the pound dollar. But before that, I would like to ask your support. If you find value in this video, please hit this like button. Feel free to share with anyone who you believe can enjoy and benefit watching this video and enjoy the. Education and the opportunities we share here, and a few words in the comment section would be fantastic help with all the way YouTube algorithm works. So thank you very much in advance for your help. Also, if you are new to our channel, please consider to subscribe with the subscribe button below this video. Let's continue. So the next one, GBP/USD last week, if you— as you remember, if you don't, you can always watch the video from last week. We were talking about this area, and as we create the peak here, we should be able to see the pound-dollar making the drop down. As we can see, this zone here, as you can see, daily and weekly chart, right? This is the key trading levels indicator, the indicator we use, KTLI. One of the most powerful things. The previous one was support here, and we saw the rally Now the resistance here, and we see the drop. Absolutely fantastic hold of a key level. What's next with the pound dollar? Don't let these short-term pullbacks confuse you. I still expect the pound dollar after some consolidation and correction here to go and continue higher. So for the long term, my plan is buy the pound dollar. Okay, we have massive area here. Based on the volume profile, we have broken resistance become support down to the demand levels and all these volume profile zones and the key trading level supportive area. Okay, when the pound dollar get there, it should be a fantastic buy. Meanwhile, on the short term, at the end of the 3 waves, the pound dollar creates bearish divergence— higher highs on the chart, lower Uh, highs on the indicator, now flips making lower lows on the chart and the indicator. Classical convergence. So on the short term, similar to the euro dollar, as long as this is on hold, I would expect the pound dollar to go and to create some short-term, uh, stoppage. It could move in 2 waves, it could move in a range here, but short-term sell the rallies as long as the peak holds could be a great trading plan. For the longer run, these dips should be considered as a beautiful opportunity for a buy. What do you think about the pound dollar? Let me know in the comments. The final one of today, the pound yen. On the last week, let's take a look on the follow-up. As a follow-up on the last week, what we saw is that after it flipped and made lower lows, our expectations were that at the end of this move we should Expect one more drop down, which happened during the week, and it was absolutely fantastic. The question is, what is coming next for the pound yen? So I am not yet confident to say that the drop is over. I still believe that there is more to come, and here are a few reasons why. On the weekly chart, we are riding with more than 20 candles on the Bollinger Band, on the upper Bollinger Band. Every single time it happened to do before, it dropped down to the opposite band. As you can see, we are still far from there. On the weekly chart, we also form a bearish divergence on the moving average of the MACD, which is another great sign. On the daily chart, we do not have moving average Divergence, but we do have the bounce of overbought conditions on the RSI. So the way I see that on a short term, it's not over yet, and there are two scenarios I would be looking to trade on the pound yen. Scenario one, it continues the final leg down, complete three waves move, one, two, three. Okay, goes and completes some bullish divergence here, and from this zone. I will be after buys. Shorter, yes, but buys. The second scenario is the GBPJPY completed 2 waves down, will go and attempt to complete 2 waves up or some sort of a range while it holds below the volume profile-based zone, and from there provide another move down, again on the short term, aiming to the same zone. we just saw here before where we'll be looking to buy. So this is my trading plan for the pound-yen, as clear as it gets for both the buys and the sells. Let me know, how do you see this one? What would you expect from the pound-yen? Share with us in the comment section below this video. That's it for this video. Thanks for watching. I want to invite you to our trading family, the Home Trader Club, where you get your access to full comprehensive trading courses Real-time trading education and trading opportunities, media zone, anything is available for you. Join us with the link below this video in the description. And don't forget, if you find value in this video and opportunities I share with you, like button below the video. Please subscribe to our channel if you also want to stay informed when we upload new content, new opportunities here for you. Thanks for your time watching. Best to you and yours. I'll see See you soon with more. Wish you good trading. Bye for now. Bye.
