Forex Weekly Forecast | EURUSD, USDJPY, GBPUSD, EURGBP | 4 December 2023 - By Vladimir Ribakov

Hello traders, how are you? Vladimir here from Home Trader Club. Welcome to the weekly Forex forecast, the last month of 2023 and the first week of the last month of 2023. There are very interesting opportunities on our horizon, on our list. Let's begin. What do you say? Let's do it. Before we start, I would like to ask your help and your support. If you will find value in this video and you appreciate the opportunities and the trading ideas I share with you, please hit this like button. And if you are new to this channel, please consider to subscribe with the subscribe button below this video. Just remember to enable the notifications so you know when there is new content available for you. This is how all the YouTube algorithm works, so your help would be very much appreciated, and thank you very much in advance for your support and your help. So the one I want to start with would be the euro dollar. If you were following this channel for the last few weeks and the last days, I shared with you the trading opportunities and the follow-up on the euro dollar. I want quickly to repeat what do we have here. And why am I bearish? So first thing, we have a beautiful, absolutely beautiful supply area here. Lots of sellers on all these peaks. Every time buyers were trying to push the price, sellers took the control in every single opportunity. What happened here with the euro dollar is we reached to retest this zone. It was 110 Round psychological level. And take a look on this volume profile based level, how it's, it's classical balance zone. This is the place where the buyers and sellers on the most recent period of over more than 300 candles feel, uh, comfortable with. This is the biggest balance zone. So as soon as we enter this area and the buyers were under control sellers started to push back inside the balance zone. Besides that, on the daily chart, we have overriding more than 20 candles on the upper Bollinger Bands. The recent situations where same thing happened were in these 2 places, and then we saw significant pullbacks. And that's what I would expect to see from the Euro dollar, at least on the short term. So taking that and going to the daily chart, though going down to the four-hour chart, we have here a classical condition where the last three waves rally comes to the end with a bearish divergence: higher highs on the chart, lower highs on the moving average of the MACD, and the first wave of what is very likely to become a. Corrective structure just happened. So from this moment, there are usually two scenarios the price follows. Scenario number one is the classical, the ABCD correction. Scenario number two is some sort of a range correction before the market decides what's next. With both scenarios, the plan is sell the rallies. And going down to the one-hour chart, we can see here a clean structure of. Lower highs, lower lows, which bounces directly from this supportive area and a demand area where buyers proved their interest. We have a bullish divergence here and a pullback is very likely. Pullback up to where? So first of all, the most recent resistance and supply area we have in this zone, also big volume profile, approximately around 109. And potentially slightly higher than that towards this zone of highs. Peak, peak, peak, and we have a peak here. So pullback towards this zone, and from there further continuation down is very likely. Um, for me it's all about central banks. What do you think about the euro dollar? How far are we going down if My view and my analysis is correct. I would expect the euro to drop at least to retest this low and this high, which act as a beautiful broken resistance that now acts as a support. Maybe even more than that. Do you think we will see the 107? Maybe beyond 105 parity level. Let me know what do you think in the comment section below this video. Next one I want to talk about would be the dollar yen. So on the recent weeks and the recent weekly forecast, I shared with you that I expect to see some fake high here, right, with this bearish divergence, and then the dollar yen to flip the price and to enter its corrective moment. And what happened here is basically this very thing. So what I expect to see on the dollar yen is to these two waves to complete its correction, ideally towards the 50% Fibonacci, maybe even beyond that place here towards the 140 huge major I would say demand area and. Dynamic support line. If we connect the lows, this could be the our two target levels. And what happens right now with the dollar yen on the four-hour chart? We have take a look here. I want to show you something very very classical. If we plot Fibonacci expansion, okay on the ongoing corrective move. Let me take a take here go. Just want to measure it for you so you can see that. Take a look how amazingly the 50% Fibonacci we saw from the daily cycle fits with the 100% expansion here of these ongoing waves. And that's what I believe is going to stop it, at least on the short term. So with that in mind, the current price structure suggests the sellers, uh, in play. We might see some bullish divergences and some pullbacks here, but these pullbacks is exactly what I want to see to sell the pullbacks and sell these rallies towards the mentioned target zone. For me, dollar-yen is yet under bearish pressure, and sell the rallies is my trading Plan. What is your trading plan? What would you expect to see from this beautiful pair? Will we get the 145 and then to 140, or will we stop somewhere around this zone, rally back again towards the 150? Let me know your views in the comment section below this video. Before I continue, I would like to thank Eightcap Broker for supporting me, my community, and my channel. Enjoy the special offers we have thanks to Adka Broker and get your access to any of my trading systems, my trading club, and private mentoring sessions with the offers. And the link to these offers you can find below this video in the description. The next one I want to talk about would be the pound-dollar. So with the way the pound-dollar acts, there is a very good probability we are about to create new highs. Until the market will get some convenient, comfortable divergence and start deeper retraces to the downside. Okay. However, on a short term, I believe the pound dollar is entering a zone where we should very likely would see some corrective movements. That zone is this classical. Supply area. Sellers, sellers, as you can see, it's all around. Sellers, sellers, sellers. The pound is entering this very area, and before further continuation upside, I would expect to see the pound-dollar first of all trying to make some corrective movement before the further rally. And with that in mind, going down to the 4-hour chart And very similar to the setup we've been following on the euro dollar on the last week, which delivered over 100 pips move down from the 110 level we were following. I believe the pound dollar is finalizing its rally here, as you can see, with this major rally here and right from the daily supply zones. As we saw before, the GBP/USD should go and complete a bearish divergence to make higher highs on the chart versus lower highs on the moving average of the MACD, very possibly RSI, and from there to make its corrective move. So with that in mind, I'll be looking exactly for this side fake highs where we should see like attempts to make highs which fail and the market to pull back. And that should be the signs to start looking for the sales opportunity. We also have some dynamic supportive line rising here. So as soon as we flip that and the market starts to make the lower highs, lower lows, sell the short term would be my trading plan. And what would be your view over the pound-dollar? Share with us in the comment section. Below this video, the next one I want to talk about would be the euro pound, the cross of the euro and the pound we saw in this video before. Ready? Let's see what does this pair offer. But before that, I would like to remind you that you can download and get your access to any of my trading tools, indicators, risk manager, and so many of the other tools directly. From my blog, so go to the blog, go to the strategies and courses, in-house indicator, download the indicators, tools, EAs of your choice. So the euro pound is in a very interesting condition because from one side it is under a major range. From other side, if we take a look on a Simple observation or simpler observation. The euro pound offered two waves to the upside on the monthly chart with a bearish divergence. Afterwards, we got the first corrective move correction, and very likely the second corrective move will go and try to fulfill itself. Going down to the weekly chart, this breakdown to the waves make total sense: three lower highs, lower lows. and a correction to the upside. This correction was broken and actually recently been retested, and not just retested, also respected. So with that in mind, are we in front of this move down to complete the monthly 2 waves? Very possible scenario, and that's exactly what I am looking to trade. Going down to the daily chart, Breaking it down to its waves, and these are the the daily waves. Let me just show it to you, right? With this range as a correction being broken, we start to see clean conditions of lower lows on the chart, lower lows on the indicators. There are no signs that it's over. The market is holding this major volume profile balance zone right now. We are on the next balance zone. So the way I see that, the market will try to complete that retest and go all the way further down. Going down to the 4-hour chart, we're trying to figure out the levels and the opportunities. We can see that we are on extreme conditions or overriding on the lower part of the Bollinger Bands with RSI reaching oversold conditions, which means we are very likely not far from From a short-term pullback, where from seller rallies would be deployed. The question is up to where are we going? So we have this major sell with buyers trying to reject. This would be the first area you can see this spike. The next one would be this inner zone, right, which is also directly on the next support that is now acting as a resistance. And the final zone is here, the range and the previously broken low, this area. So any pullback to one of these zones with bearish evidences, bearish candles, bearish divergences, or something like a trend line and a breakout should be a great opportunity to start looking for sell to join daily and the weekly So for me, the euro pound on a short term is very likely to find a convenient bottom, make the correction, and from there drop down. What do you think will the euro pound do? Share with us in the comment section below this video. That would be it for this weekly forecast. I hope you find value in it and you find the trading opportunities interesting. Please hit the like button if you do. Feel free to share this video. With anyone who you believe can benefit watching that. And I would like to invite you to our trading family, the Home Trader Club, where you will get your access to our full comprehensive trading courses for beginners, advanced, real-time trading opportunities, real-time education, live sessions on a weekly basis, access to the community, and so much more. Join our trading family with the link below this video. Meanwhile, best to you and yours. Thanks for your time once again watching this video. I'll see you soon with more. Good trading and good months ahead. Bye for now.