Vladimir Ribakov analyzes EUR/USD, USD/JPY, EUR/CAD, and Gold for the week ahead. EUR/USD shows bearish MACD divergence and broken support now acting as resistance. Gold is overbought across all timeframes with a double-top on the 4-hour chart and bearish divergence.
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What's up guys, Vladimir here from Home Trader Club. Welcome to another weekly forecast. Before the chart, as always, big thanks, thumbs up to 8K Broker for their support in our community, and you can continue and enjoy all the special offers we have with them, including the access to all the trading systems to Home Trader Club up to one Full year private mentoring sessions and much more. Follow the link below this video in the description. So what do we have for this week? First one is the euro dollar on a daily chart. Bearish divergence: higher highs on the price versus lower highs on the moving average of the MACD. On the day on the four hour chart, three lower highs, lower lows. We gain a bearish momentum. Pay attention: there is nothing here ending this momentum. Lower lows on the chart, lower lows on the MACD, full synchronization. Usually that's what follows next: either two waves to the upside and then continuation down, or we form a range here and then another push to the downside. For me, sell the rallies. Some levels to pay attention to here: broken support here became a resistance, could be the level where this range holds before the push down. Of course, the previous high that acts as supply and also based on this volume profile balance zone. Next one, USDJPY moving in a range on the weekly chart and we are now right next to the peak of the range. There are 2 scenarios to follow in that case: break above that, come to retest and we can expect continuation up. Second scenario, as it comes to retest the weekly zone, it completes bearish divergence on a daily chart and pushes down from there. My trading plan here is the dollar-yen completes these waves, forms a daily and 4-hour chart divergence, and then looking for the sells. EUR/CAD also very interesting opportunity, overriding on the upper Bollinger Band for more than 20 candles, forming bearish divergenceā higher highs on the chart versus lower highs on the MACD. Daily chart wedge is coming to the break. False break above the peak followed by bearish divergenceā higher highs on the chart, lower highs on the MACD. A 4-hour chart gets a great momentum to the downside, making lower highs, lower lows. 2 scenarios the, the way I see that. First, we complete the break below the recent low, gets the rally for a Pullback and then continuation down. Alternatively, two waves down followed by two waves up or the range and then followed by the breakout should be another good sell opportunity. Gold is our next one. But before that, quick reminder: follow us during the week in the blog Vladimir Ribakov dot com where you also are able to enjoy all of our in-house indicator strategies courses. And of course, our free tools, free ebooks, and complete guides for beginners and advanced. Follow us, VladimirBakov.com. Gold completes overbought conditions on all the timeframes: monthly, weekly with crazy peak and RSI above 80, and strong, strong, strong, strong, strong spikes on 2 following candles, and as well daily. Beautiful overbought conditions with RSI above 80. 4-hour chart completed double top, completed the break, lower lows on the chart, lower lows on the MACD. 2 ideal cases scenario here. Scenario 1, we follow as ABCD or the range as long as the resistanceā was support, now resistanceā holds and looking for the sell. Scenario 2, it pushes down to clean the previous low or this mini range, and from there Looking for the buys. For the buys, if happens, we would want to see lower lows on the chart, higher lows with the bullish divergence to give us the indication that we are ready for retraces upside. That's it for this video, the best opportunities. If you enjoyed these trading opportunities, please don't forget to hit the like button and subscribe to our channel if you are new to our channel. And I want to invite you once again to our trading family, Home Trader Club. Get your access to all our courses, real-time education Real-time opportunities and so much more. Follow us with the link below this video in the description. Thanks for watching. Best to you and yours. I'll see you soon with more. Good trading. Bye for now.
